Types of Scholarships

General or Dean’s Scholarship Funds

• You are not required to make a minimum contribution
• Funds are available for awards immediately after receiving your gift

Named Annual Scholarship Funds

• Commitment of $7,500, which may be paid over three years, with a minimum annual gift of $2,500. (may continue beyond 3 years with continued annual gifts)
• Funds are available for awards immediately after receiving your gift
• You may name the fund in honor of or in memory of a loved one, or yourself
• Scholarship awards will be given in your name
• You may specify certain selection criteria

Named Endowed Scholarship Funds

• Minimum commitment of $25,000, which may be paid over 5 years
• Account remains intact in perpetuity, awards are made from endowment earnings only. For example:
  • If the endowment has a balance of $25,000, the estimated annual spendable income is $1,125 (based on a 4.5% annual distribution rate). Quarterly spendable distributions will begin once the endowment is fully funded.
• You may name the fund in honor of or in memory of a loved one, or yourself
• Scholarships will be given in your name
• Creates your lasting legacy to Wayne State University
• You may specify certain selection criteria
• You will receive annual stewardship reports of all activity in the fund, including recipients’ names and their award amounts