What is an annual scholarship?
Annual scholarships are an opportunity to give a yearly gift to Tiffin University and sustain our scholarship program. Annually funded scholarships are those that are funded each year by friends and alumni. The impact of the annual scholarship is immediate, meaning the funds are disbursed to the student recipient in the fiscal year they are received. Gifts made to annual scholarships are not invested, and do not earn additional income. An annual gift of at least $1,000 with a five-year commitment may be used to provide a scholarship for deserving students. As an annual scholarship donor, you can specify the scholarship name and criteria. Annual scholarships give you the flexibility in cost and commitment.
These scholarships provide the financial resources that help to fund the difference between the university’s true cost of educating a student, and what a student actually pays in tuition. Annual scholarship funds help Tiffin University attract the kind of student who can best benefit from a Tiffin University education, but who might not have the personal funds to cover all of his or her tuition costs.
Donors are given information annually about the students who receive their award. Donors will be invited to the Donor Recognition Luncheon where they have the opportunity to meet the awarded students during the spring semester. We strive annually to provide an opportunity for donors to meet the students who will directly benefit from their commitment.
Why is your participation important?
Alumni and donor support for annual scholarships is critical. Not only does the fund provide much-needed assistance to deserving students, but the higher the participation by our alumni, the greater chance Tiffin University has of receiving major grants from regional and national foundations which consider alumni participation an important part of their grant-making criteria.
What is an endowed scholarship?
The gift of an endowed scholarship provides Tiffin University with a permanent asset from which students can receive support. Just like a savings account, endowment funds generate income from the principal investment. Endowments create the foundation upon which universities build lasting financial strength and ensure academic quality. Once in place, endowments provide permanent support for the students of TU.
The minimum principal balance required to establish an endowed scholarship is $25,000. Initial contributions may be made in lesser amounts with no awards made to students until the minimum of $25,000 is reached. A donor may be allowed up to five years to complete the $25,000 gift. Subsequent additions may be contributed at any time in any amount.
How does it work?
Awards are made annually to deserving students according to the donor wishes and current financial aid policies of the university. While it is preferred that scholarships be unrestricted, occasionally it can be appropriate to specify that the scholarship be awarded to students from a specific academic focus or geographic area. Donors are given information annually about the students who receive their award. Donors will be invited to the Donor Recognition Luncheon where they have the opportunity to meet the awarded students during the spring semester. We strive annually to provide an opportunity for donors to meet the students who will directly benefit from their commitment.
Why give an endowed scholarship?
Naming the endowed scholarship is an opportunity to perpetuate your own interest in Tiffin University or to recognize or memorialize a loved one, friend, classmate, or business. All students who receive a named scholarship are made aware that others share a commitment to their education.
As higher education costs continue to climb, today’s students have a greater need for financial assistance. Nationally, more than 60 percent of all public and private college students receive financial aid. More than 90 percent of Tiffin University students receive some type of financial aid.
For more information, please contact
Vice President for Institutional Advancement & Public Affairs/Chief Advancement Officer