There are a number of ways to establish and/or support scholarships at Virginia Highlands Community College! We offer two main types of scholarships: Endowed and Annual. We use an annual scholarship award process and eligibility criteria to guide the provision of financial support for students. Scholarships can be for tuition/fees, books, supplies, uniforms, and living expenses – at the discretion of the donor. Check out the information below for an overview and contact us if you’d like to learn more.
Endowed Scholarships: A minimum contribution of $25,000 establishes an endowment. If it is not possible to provide the total $25,000 initially, arrangements can be made for the donor to contribute an amount toward the endowment over a period of years. The money contributed is not used directly to pay for scholarships but rather is invested, and the annual interest earned from the investment of the funds provides income for scholarships to be awarded.
- The advantage to this type of scholarship is that the initial gift remains as a principal balance and continues earning interest and, therefore, can provide scholarships for many future students.
- The disadvantage is that it can sometimes take a few years to build the endowment to a point where scholarships start to be awarded.
Annual Scholarships: Contributions to annual restricted scholarship funds are not invested. Monies contributed are dispensed directly for scholarships; therefore, annual (or periodic) contributions are required to continue awarding scholarships.
- The advantage to this type of scholarship is that the scholarship can be awarded during the scholarship awarding period immediately following receipt of the contribution.
- The disadvantage is that additional contributions are necessary to continue the awards.
Scholarship Award Process: Each academic year, the VHCC Educational Foundation announces the availability of scholarship funds along with eligibility criteria for each award. Interested VHCC students and prospective students must complete a “Scholarship Application Form,” as well as complete any necessary financial aid forms.
Shortly after the application deadline, the members of the VHCC Scholarship Selection Committee (which consists of academic counselors, administrators, and staff) review the applications and eligibility requirements for each scholarship. This committee is responsible for the selection of recipients.
The VHCC Educational Foundation notifies scholarship recipients and also sends information regarding the scholarship award to the individual or organization that established the endowment or restricted fund.
Scholarship Eligibility Criteria: Some examples of scholarship eligibility criteria include financial need, geographic area of residence, degree program/curriculum, non-traditional student status (over/under age 25), and/or minimum grade point average. Other criteria may be set by the donor. The VHCC Educational Foundation utilizes a scholarship questionnaire to guide and document the establishment of a named scholarship.
For More Information: Contact the VHCC Foundation Office at 276-739-2449 or via email at email@example.com.