Student Scholarships and Fellowships
With the continued decline in state appropriations for higher education, students are relying more and more on privately funded scholarships and fellowships.
When donors create a scholarship or a fellowship through the Michigan Tech Fund, they make it possible for another student to pursue an education at Michigan Tech. The beneficiary students could not be more grateful to those who provide them with this life-changing 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 of award 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
In contrast to the total payout policy used for annual funds, endowed funds limit spending to a portion of the investment return. Therefore, the principal (your gift) can be invested in longer-term, higher-yielding assets with the objective of providing growth and a hedge against inflation.