With state funding declining over the years, students rely more and more on privately-funded scholarships and fellowships to be able to afford higher education. When donors create a scholarship for undergraduates or a fellowship for graduate students with the Michigan Tech Fund, they know that they have made it possible for another student to pursue a higher education at Michigan Tech. These students could not be more grateful to those who provide them with this great opportunity.
Types of Student-Support Funds
The Michigan Tech Fund offers two main types of scholarship and fellowship funds based on the method chosen to support the scholarship awards:
1. Annual Scholarship/Fellowship Fund
This type is funded by annual contributions based on the number and amount of awards the donor wants to provide. The contribution dollars are immediately available for award to students.
2. Endowed Scholarship/Fellowship Fund
Unlike the total payout policy used for annual funds, endowed funds limit spending to a portion of the investment return. Therefore, the principal (your gifts) can be invested in longer-term, higher-yielding assets with the objective of providing growth and a hedge against inflation.