Michigan Engineering Named Scholarships
For many students, scholarship support from Michigan Engineering makes a critical difference in their decision to attend the University of Michigan. Scholarships provide a ringing endorsement of Michigan Engineering’s confidence in an applicant — often times making the pursuit of a Michigan Engineering degree financially possible.
Potential scholars come to Michigan for its outstanding academic reputation, legacy of impact, and enormous breadth of learning opportunities. By helping them with their educational expenses, scholarships allow students to take advantage of these benefits without accumulating large debt burdens. Freed from financial distractions, students are able to focus on their education with all the energy and attention this life-shaping endeavor deserves.
At the same time, scholarships play an important role in emphasizing a sense of public duty that is integral to the field of engineering. In conversations with Michigan alumni, scholarship recipients overwhelmingly cite the impact of having an early benefactor in their education and career as a reason for later wanting to multiply the benefit.
Endowing A Legacy
A named scholarship can be established with a minimum gift of $300,000, payable over one to five years. This gift generates distributions of approximately 4.5 percent annually that provide expendable funds for scholarship awards.
The scholarship may be named as the donor appropriately desires, and recipients will carry that name for the duration of their award.
To establish a named scholarship, the donor, the Michigan Engineering, and the University sign an agreement specifying the donor’s intent, the gift payment schedule and acceptable criteria for selecting scholarship recipients. While unrestricted scholarships are preferred and offer the greatest flexibility to Michigan Engineering, a donor may specify certain preferences for award criteria.
University Scholarship Matches
The Michigan Matching Initiative for Student Support offers an extra incentive for donors to establish or support endowed scholarship funds. The Initiative provides a $25 million matching pool to encourage new gifts of $100,000 to $1 million that support scholarships for Michigan students.
For further information, call the Office of Advancement at (734) 647-7042.