When successful individuals want to have a positive influence that reaches far into the future, they often think about starting a scholarship in their name. Starting a scholarship fund is an excellent way to promote higher education.
Scholarships help students afford higher education by defraying the student loans that they would otherwise have to take out. They also provide opportunities in particular fields, encouraging students to broaden their horizons.
Nancy Etz explores ten scholarships given out by generous individuals who are dedicated to advancing the cause of education.
1. Katie Couric
Couric has established the Dream Award by Scholarship America. The scholarship ranges from $5,000 to $15,000 depending on the student’s demonstrated financial need. The award increases by $1,000 each year to reflect the increased cost of college attendance.
To be eligible, students must be entering their second or higher year of post-secondary education. They must also have a minimum GPA of 3.0.
Shawn Carter, known as the recording artist Jay-Z, began the Shawn Carter Foundation Scholarship in hopes of supporting underserved and underprivileged students. The award is available for students who are pursuing their first undergraduate degree. High school seniors, GED diploma holders, students currently enrolled in 2- and 4-year undergraduate institutions, and students in vocational or trade schools may apply. The deadline is April 30th.
3. David Letterman
David Letterman endowed the Letterman Telecommunications Scholarship at Ball State University. There are three awards given out each year: first place is $10,000, second place is $5,000, and third place is $3,333.
Students must be enrolled at Ball State in the telecommunications program. They may major or minor in telecommunications. Students need to complete a creative project for consideration.
The well-known singer endowed the Clara Lionel Foundation Global Scholarship Program in honor of her grandparents. This generous award ranges from $5,000 to $50,000. Applicants must reside in one of the following countries: Jamaica, Guyana, Barbados, Cuba, Haiti, or Brazil. They must be accepted to a college in the United States.
5. Derek Jeter
Derek Jeter has been particularly generous and has funded a number of scholarships through the Turn 2 Foundation. His scholarships are intended for students with demonstrated financial need with talent in a variety of fields. He is particularly interested in supporting high-achieving minority students. The Jackie Robinson Foundation Scholarship is perhaps the best-known example.
The Jackie Robinson Foundation Scholarship is available for outstanding high school graduates who are pursuing four-year degrees at an accredited institution. The deadline is February 1, 2021.
6. Tina Fey
The Donald H. Fey Memorial Scholarship is available for students at Temple University. Endowed by the comedian in memory of her father, the scholarship focuses on students who have demonstrated financial need and are also military veterans. Students applying for the Donald H. Fey Memorial Scholarship are required to attend Temple University.
7. Nancy Etz
The Nancy Etz Scholarship is open to all students who are currently enrolled full-time at the graduate or undergraduate level. The scholarship is intended to recognize outstanding students, giving them the resources, they need to pursue an exciting career. This $1,000 scholarship is awarded through responding to the essay prompt “Discuss a special attribute or accomplishment that sets you apart”. The deadline is February 1, 2021.
8. Tiger Woods
The Earl Woods Scholar Program was begun by the famous golfer in May 2006. The program not only awards financial aid, but also provides mentoring support, internship opportunities, and career development workshops. Each winning student is paired with an experienced mentor.
9. Bill Gates
The Bill and Melinda Gates Foundation has sponsored a large number of scholarships since its inception. The Gates Scholarship is highly selective and intended for low-income minority students with outstanding academic records. While this year’s deadline has passed, the scholarship application cycle will begin in July 2021 for next year.
10. Bezos Scholars Program
The Bezos Scholars Program was established by Jeff Bezos, the CEO of Amazon and the owner of the Washington Post. The scholarship is highly selective. The students in question must attend a low-income school. The program is open to high school juniors. The deadline is January 11, 2021.
The Benefits of Scholarships
Endowing a scholarship benefits not only the recipient but also the donor. Companies or individuals establish scholarships in order to help the public. Students who receive college scholarships are less likely to take out large student loans to support their education, meaning that they can move forward with more financial freedom.
Students are encouraged to look into scholarship programs founded by celebrities and business leaders like these. There are hundreds of valid scholarship opportunities, but they may require some research on the student’s part.
When a student receives a scholarship, their academic achievements are recognized. Students should take pride in their accomplishments.