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  • Starting Scholarship

    Hello all,

    I was curious if anyone had any experience or advice for starting a scholarship beyond what google is telling me.

    Brief background: My mentor is sick. He is literally the reason why I am in a good position in life. When I was kicked out of my house living in a place with my grandpa without internet or a lot of resources he allowed me to shadow him, became my mentor, gave me a paid position, paid for my MCAT prep course, paid for my med school applications and supported me in ways that my parents were not equipped, financially or logistically, to help me to get into medical school. I owe my life to him. I shutter at what could have happened if he had not taken me under his wing. Given the severity and nature of his illness, I am not able to connect with him to see him personally and make sure he knows how grateful I am. I have to respect his privacy. I would like to establish a scholarship to honor him to help out kids like me. He saw a lost kid who had a ton of potential and made sure I was on the right path. I just want to pay tribute to him and "pay it forward." I feel it is the least I could do to honor him.

    Thank you,

    Chris

  • #2
    Depends on how involved you want to be choosing the winner. I think it'd be easiest to donate to a school's endowment in his name. Maybe you can add people from disadvantaged background as a stipulation.

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    • #3
      we did one at local community college.  it was not hard, called up the office and described what we want.  it depends on how much time and money you personally want to commit.

      my experience has been mixed.  it has not been nearly as personally rewarding as i thought.   these days, when we see a needy kid who we like, we try to personally mentor them and give them money and stuff they need.  we follow with them on our own.  we don't derive any gain from having a scholarship named for us or see the need for formality.  you may consider just following in your mentor's footsteps and just helping when you see a need.  you can of course let him know how much he impacted your life and that you are paying it forward.  if not him, then his family.

      it's great that you have a generous heart.  he must have seen something in you early on and we are all glad to see it nurtured successfully.

      good luck!

       

       

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      • #4
        Chris,
        The mechanics are relatively simple.
        Contact the university’s development office.
        Minimum’s are usually $25k (small annual award) and up the the sky if you like .

        Your story and intent is wonderful. Is your target HS, College, or MS? Defining the criteria is up to you. Too tight leaves it unused, just need isn’t your intent.

        Did you know you can do it at a high school?
        At a university for only hs graduates from a county.
        Is it an endowment or funds to be awarded for a period of time?
        Just decide the criteria and the amounts desired and the institution will take care of the rest.

        Regarding the privacy issue, you are not a “stranger “. I would encourage you to reach out. You may find going out of your way just to express your gratitude is of great value to your mentor and the family. I made a trip in July for the purpose, the sparkle in a 92 year old’s eyes. Memories come back, priceless. There is a bond, take the chance.

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        • #5
          You can consider giving a scholarship to a student abroad in a developing country, where school is cheaper but opportunities limited. I am sponsoring a med student in Uganda for $1500 a semester and two nursing students in Nepal. Nursing school for each will only cost about $6000 total.

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          • #6
            All great ideas and insight. THank you all so much as always.

             

            Sorry for the delay in response, been on call for past 8 days and was stuck at hospital until 10 last night.

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            • #7




              You can consider giving a scholarship to a student abroad in a developing country, where school is cheaper but opportunities limited. I am sponsoring a med student in Uganda for $1500 a semester and two nursing students in Nepal. Nursing school for each will only cost about $6000 total.
              Click to expand...


              This is an interesting idea. Do you do this through an organization? How are you ensured that the money gets where it needs to?

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              • #8
                This mentor of your sounds pretty amazing.  Hope you're able to accomplish what you set out to do..

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