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Foundation
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Scholarship Guidelines
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The College of the Canyons Foundation Scholarship Program
exists to encourage academic excellence, recognize outstanding
achievement and provide students with an additional resource
for their educational costs. The Foundation also strives to
meet the needs of our donors in their desire to recognize
students with exceptional ability and promise. |
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Endowed Scholarships
Scholarship donors are invited to establish Endowed
Scholarships in the name of special people, events or
organizations to honor them in perpetuity. An endowed
scholarship is established with a principle gift of $1000 or
more. The original gift and additional installments to the
scholarship are invested and the interest income is allowed to
build. As a guideline, the Foundation has established a target
principle of $10,000 before the award can be given to a
recipient. The first scholarship will be awarded 1 year after
the scholarship reaches the target level with the amount of
the award based upon the interest earned. Funds that do not
build to the $10,000 level within five (5) years of the date
the scholarship was established will become a General
Scholarship and awards will be made out of the principle
balance.
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General Scholarships
General Scholarships are temporary scholarships that make
awards out of the principle amount of the gift. Because these
scholarship funds are by nature expendable and must be liquid,
they are generally not invested in higher yield or long-term
accounts.
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To Create a Scholarship
- Contact
Michele Edmonson at the Foundation office to
notify them or your intent to establish a scholarship.
- The Foundation office will provide the scholarship
guidelines and criteria forms.
- Donors return the completed forms to the the Foundation
after making decisions regarding the parameters of the
scholarship. Donors are encouraged to be as non-specific as
possible on the criteria for selection, in order to attract
a significant pool of student applicants.
- The Scholarship fund is established upon receipt of the
first gift. Checks should be made payable to the COC
Foundation. Donors who wish to make a gift by credit card
can contact the Foundation office at 661-362-3493.
- The Foundation office acknowledges all gifts that are
received.
- Changes or revisions may be made to the scholarship
criteria at the discretion of the donor; however, changes
will not take effect until after an award cycle has been
complete.
- An update on the progress of the scholarship is provided
to the donor upon request.
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