Endowed Scholarships
You will change the lives of students, many of whom could not afford to attend Hastings College without your support.
By establishing an endowed scholarship, you help a student pursue a dream of a college education, when financial obstacles would otherwise keep that dream out of reach. Your gift secures a source of financial aid in perpetuity while recognizing the legacy of a loved one, a favorite professor, or your own through the naming of the scholarship.
A note from HC Student Isaiah Strachan, expected HC Class of 2025 –
“I want to express my gratitude for giving me the opportunity to make further advancements in my academic career. This scholarship meant so much to me because just receiving it made me feel like I was smart and dedicated enough to actually pursue a career in the medical field and make a difference in the world. In addition, it relieved my parents of a significant portion of my tuition and for that I am extremely grateful. At times I tend to feel that I am not cut out to chase this little dream of mine, but it’s moments like this – when all of your hard work is rewarded, that allows a person to keep going and stick with it. So, thank you so much for supporting me in my ambitions and I hope that this step that you have given me, can become the staircase to my bright and beautiful future.”
Process for Creating a Scholarship
It’s easy to start your scholarship! All we need from you are three things:
- Awarding criteria – what type of student do you want to receive your scholarship (a major, from a specific part of town, etc)?
- Name of scholarship – is it in honor of someone?
- Funding plan – if you are unable to fully fund your scholarship at $25,000 right away, you have up to three years to build the fund.
Once we have the information above, our staff will draft an agreement based upon your wishes. The stipulations of the agreement will be vetted for legality and feasibility prior to signatures from you and the Foundation Executive Director. After a signed agreement is received, you will be recognized as a Ringland Society Member.
Your scholarship will be awarded the fall following the next June 30. Scholarships may be awarded sooner with an additional gift to offset the loss in interest accrual. You will receive a scholarship report sometime in October-November of each year with the fund balance, the previous year’s draw, and the name of the student recipient. Be on the look out for additional communications and opportunities for you as a Ringland Member!
Join hundreds of others who have left a legacy at Hastings College by establishing an Endowed Scholarship. Contact Claire Bostelman at 402.461.7786 or claire.bostelman@hastings.edu.
FAQs
Draws are calculated based upon the average fund balance over the prior three years. If the fund is less than three years, it will be the average of the years since it was created, until it is three years old (year one would be the balance with no average, year two would average the prior two years, year three would average the prior three years). Usually, the draw is around 5%, with each fund rounded to the whole dollar.
Gifts are welcome at any time. However, June 30 marks the end of our fiscal year and serves as the cutoff date for funds to accumulate and be ready for distribution the following fall. Gifts made after June 30 will be included in the next cycle. For example, gifts made before June 30, 2024 will be dispersed by the fall of 2025. Gifts made after June 30, 2024 will be dispersed by the fall of 2026.
Our current investment strategy and policy is conservative to protect your investment through volatile times. Our equity exposure is 63.1%, fixed income is 31.5 % and Money Market is 5.4%. Our investment committee is focused on investment strategies for long term success. If you are interested in additional details regarding our investment strategy, we welcome your call.
Once the fund has hit the $20,000, it is considered operational and will be drawn upon every year, regardless of if the balance drops below $20,000 due to market performance or other factors. This means that the Office of Financial Aid will have less money to award to students. You may contribute additional funds to your scholarship to help keep the balance above $25,000.
Yes! Please be sure to speak with a Foundation staff member to ensure we know how to best fulfill your legacy. If you already have included the College in your estate, we will regularly send materials to confirm our records and notes are accurate.
Yes! Visit Endowed Opportunities to learn more about chairs, professorships, naming opportunities and more!