An annual scholarship is named and valued by, as well as renewed for as long as desired, by the donor corporation or foundation. Typical annual scholarship gifts range from $1,000 to $5,000 each year, which is awarded entirely to one or more scholarship recipients. Donors may choose to make scholarships broadly available to students of any major at the university level; designate support for students from a particular geographic area; or support a particular college, school, as or degree program that aligns with the corporation or foundation’s particular focus. An example of this might be an insurance company providing $10,000 each year for annual scholarships awarded to students in the Raymond J. Harbert College of Business’ Risk Management and Insurance program.
An endowed scholarship is named by the donor corporation or foundation and lasts in perpetuity, since only the earnings are spent. This provides long-term stability and continuing visibility. The minimum endowment is $25,000, which provides approximately $1,000 in spendable funds annually based on current Auburn University Foundation endowment policies. Like annual scholarships, endowed scholarships can be awarded broadly at the university level or customized to recognize students based on residency, area of study, financial need, and/or academic performance.
Learn more about endowments