Now foundations can be considered as a broad term, this includes high brand companies likes Coca Cola, or smaller traditional foundations that center around non-profit.
Big fast-food companies like Taco Bell, McDonalds, Burger King, Wendy’s, Pizza Hut, Chick-a-fil, White Castle, and Papa John’s. These companies have scholarship rewards available up to $1,000, $2,500, to $5,000 dollars.
Then foundations that are actual store brands, big tech companies, and design brands like Nike, Target, Adidas, Wal-Mart, Coca Cola, Dunkin Donuts, Google, Intel, Microsoft, 3M, Geico, Neiman Marcus, State Farm, Dollar General, and Home Depot. As of today, the biggest scholarship to win is the Coca Cola Scholars Foundation which has a reward of up to $20,000 per winner. This scholarship is awarded with 150 students receiving $20,000 each.
Why do foundations give out high dollar scholarships? What is a foundation scholarship?
This is the technical answer “Like all community foundation grants, scholarship grants must be made for charitable purposes.” Andfunding help for a higher education is a charitable purpose. Now, what exactly is a foundation scholarship and what can you expect? Well, imagine a loan that is directly awarded to you without you needing to pay back anything. That’s right! A foundation scholarship is just like a government grant. This is not a student loan from a bank, this is a certain amount of money dedicated to cover certain expenses.
Why you should look at big foundations for a scholarship possibility?
The bigger the foundation like Microsoft or Coca Cola, 5 percent of a company’s yearly earnings has to be used as charitable funding. Meaning a $10,000 or $15,000 scholarship could be given out to 150 applicants or more.
Also, private foundations often focus their grantmaking programs on making grants to other charitable organizations. However, beyond grants for scholarships and travel, foundations can provide direct assistance to individuals in need of assistance
Finding the Foundation for Your Application
That’s right! You need to search for the foundation that will fit your needs and your field study. Some foundation scholarships simply ask an essay comparative question like “How will this scholarship improve your higher learning education?” Or “Why do you think this scholarship is for you?” In these instances, you should answer honestly and focus on key points that reflect you on weaknesses, vulnerable but strong over coming situations throughout your life.
Private Foundation Rules
If you’re applying for a scholarship and a relative of yours works for that foundation, you will not be considered as an applicant. With private foundations there can be no connection between you and a blood relative that works at that foundation. You can apply however, to a different private foundation.
Receiving the Scholarship for a Foundation
Now, some foundations will simply send a check of the entire amount that the scholarship presents. However, some scholarships will be divided into quarterly or semester payments, so the applicant will not receive the entirety of the scholarship funding. Once you understand the difference between a private or public foundation, you’ll be able to idenitify the advantages to applying to both.