What is a current-use scholarship?
“Current use” means students receive the funds now. If you give $1000, students receive the $1000, and then it’s gone. (When you give to endowed scholarships, the money you give gets invested, and students receive a certain amount of the interest. This scholarship gets given over and over again in perpetuity. An endowed scholarship requires a gift of at least $25,000.)
PLEASE NOTE: To have your gift matched 1:1 through the Access Illinois Scholarship Initiative, you’ll need to give at least $2,500. This match opportunity will last through June 2014.
How do I create a current-use scholarship?
Contact one of our gift officers, who will walk you through the entire process to make sure that the scholarship ends up exactly the way that you want it.
What name do I put on the fund?
Many people put their own name on the fund. Others name the fund in honor of someone—a mother, a former teacher or mentor, a personal hero.
Do I have to commit to a certain number of years?
No. Some people keep the fund going year by year. Others commit to multiple years. We’ll work this out with you.
For the match opportunity, you can pledge to make a gift for up to five years and receive the match each year–even after June 2014 when the Access Illinois initiative officially ends.
May I set my own criteria for the scholarship?
We welcome your input. One of our gift officers will discuss options with you and explain all the details.
For Access Illinois, certain rules apply. We’ll be glad to explain them in more detail.
May I choose the actual student who receives the scholarship?
No. We have a committee that does that following the criteria you help establish.
What if I have more questions?
We welcome your inquiries. Use the information below to contact us.