“ I look forward to the day when I can give back financially to Biola and be an answer to prayer just as others were for me.”
Every year, hundreds of students dream of completing a degree at Biola. But for many, the financial struggle to pay for tuition makes that dream difficult, if not impossible. By establishing a scholarship, you have the opportunity to partner with our students and invest in their life-changing education.
Currently, over 200 students each year are blessed through receiving additional financial aid made available through designated scholarships.
By establishing a designated scholarship you can provide direct aid to students within a given area of study or interest based on criteria set by the scholarship originator. The criteria* can be based on need, academic discipline or merit.
Initial gift of $10,000 is required to establish a new expendable scholarship.
An expendable scholarship will begin being awarded to a student meeting the established criteria within the first year. Funds will continue to be awarded for a minimum of 5 years (based on a $2,000 average award), or until the fund is fully expended.
On a yearly basis, the originator of the scholarship will receive a financial fund report and profiles of the students being helped.
$50,000 is the minimum required to establish a new endowed scholarship, and this can be paid over 5 years.
Upon receiving the minimum, the endowment is established, and based on the income generated through the investment, funds will be made available to begin awarding the scholarship. Due to market fluctuation, first awards could be made within three to four years.
On a yearly basis, the originator of the scholarship will receive a financial fund report, and once awarding begins, profiles of the students being helped.
The impact this endowed scholarship will be felt for decades to come.
$55,000 is the minimum required to establish a new hybrid endowed scholarship. $5,000 initial gift with remaining $50,000 over five years.
This hybrid endowed scholarship allows for awards to begin within the first year using the initial funds. Upon receiving the full balance, the endowment is established, and based on the income generated through the investment, funds will be added to the expendable fund so awarding can continue. Due to market fluctuation, it could be three to four years until regular yearly awards are made.
On a yearly basis, the originator of the scholarship will receive a report of financial fund progress and students being helped.
This scholarship model has immediate impact to students, and once endowment is fully established, will have benefits for decades to come.
*As part of the scholarship creation process, preferences for scholarship criteria suggested by the the originator are reviewed and approved by Financial Aid, Finance and Legal departments to ensure that they meet legal guidelines and ongoing awarding feasibility.
Though your generosity in establishing a new scholarship you will join a special group of more than 1,500 supporters who are committed to helping Biola provide a world-class biblically centered education for all students. Join the President’s Circle.
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