How do you start a scholarship fund?

I have questions on setting up a scholarship relating to chronic pain..?

• My husband and I would like to create a small scholarship fund (around $1,000, possibly more, we haven't settled on a for-sure number yet.) My husband struggles with chronic pain daily and was lucky to finish his Master's degree just as his pain was getting unbearable. What is the best way to start a small scholarship fund? We aren't set on a specific school, and we're trying to decide which option to go with: one for a high school student with CP but who shows great possibility; or one to a medical student who is making pain his or her specialty. Our only concern with the first one is how many students would apply. Please give us your thoughts on this. I realize the amount isn't great, but if it could cover books rather than just tuition, it might be more helpful.

• Answer:

  1. Talk with an attorney about this. 2. There may be a collection of scholarships and other types of grants in your area that are overseen/managed by just one authority or organization. To find that out, if you do not know, ask at your local public library. They may either have info on file or one of the librarians can research it for you. If there is an organization, then contact that overseeing organization about setting up a scholarship fund through their auspices. 3. You could also just set up a scholarship through just one institution of higher education in your area, if you wish. If you choose that option, the school's development office can probably assist you with that. 4. Or you could find out if one of the national organizations that deals with chronic pain issues offers scholarships and if you could add your funds to that organizations' funding. If there is a local "cap organization" in your area for scholarships, that is probably the line I would investigate first. The "cap organization" then would be the body through which applicants would apply, relieving you and your husband of a lot of time consuming sorting and decision making. If the scholarship does not have strict requirements, including a limitation regarding residence of the applicants - like a county or a specific region of a state - there will be many, many applicants - many who may not really meet the application criteria. The thought of even providing funds to help cover a students book expenses is great! Best wishes in your endeavors