Establishing a Scholarship at Virginia Western Community College
How much does it cost to attend Virginia Western Community College?
Please reference our Tuition & Fees page for current tuition and fee rates.
How much does it cost to establish a scholarship?
There are two types of scholarships:
Annual Scholarships
You may fund a named scholarship on an annual basis that awards the entire amount during the year in which you give it. This requires a minimum contribution of $1,000 per year.
Endowed Scholarships
You may fund a named scholarship that will continue to help students and leave a legacy for your family or organization. An endowed scholarship, which may be funded over a maximum of five years, provides funds for tuition, books and/or other related expenses for qualifying Virginia Western students. The Educational Foundation has established the following targeted goals for scholarship endowment levels: $60,000 Endowed Scholarship Goal (to provide impact for a full-time student) and $30,000 Endowed Scholarship Goal (for a part-time student).
How will the Foundation administer my endowed scholarship?
The Foundation recognizes that the intention of the donor is that their endowed scholarship remains in perpetuity. In order to protect the donor’s initial investment, the Foundation established the endowed spending rate as a maximum of 5% (the Internal Revenue Service’s recommendation) of a three-year moving average of the market value of the Foundation’s endowment assets on March 31. This enables the value of the fund to grow over the long-term. The Foundation will not administer scholarship funds until the percentage of a three-year moving average can be established allowing the fund to grow.
How can I designate the type of student who receives my scholarship?
There are many ways to tailor your scholarship to reach the students you most want to help. The Foundation staff will consult with you regarding the criteria you wish to establish.
Will I meet my scholarship recipient?
Yes, the Foundation will notify you of your scholarship recipient as soon as he or she is selected, and you will have an opportunity to meet the student at the annual Scholarship Awards Ceremony held during the spring semester. We can also arrange individual meetings with donors and their recipients.
Is there a fee to administer my scholarship?
Yes, administrative fees are assessed on all restricted contributions to assist in facilitating the scholarship process. Endowed donations are annually assessed a 1.5% fee on the market value as of March 31. Non-Endowed donations are assessed a 5.0% fee upon the receipt of the gift. Donations to the Community College Access Program are assessed an 8% fee upon the receipt of the gift.
Who do I contact to receive more information?
Amanda Mansfield
Philanthropy Director
540-857-6962
amansfield@virginiawestern.edu
Virginia Western Community College Educational Foundation, Inc.
Fishburn Hall, Room 214 C
3093 Colonial Ave., SW
Roanoke, VA 24015
Fax: (540) 857-6370
www.virginiawestern.edu/foundation
Contact Us
Fishburn Hall – F214
540-857-7312
Fax: 540-857-6370
TTY: 800-855-2880 All users: 711
Mailing Address:
3093 Colonial Ave. SW
Roanoke, VA 24015
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