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| Friends of MCC Foundation Scholarships |
| For most students, cost is one of the most important issues considered as they select a college. MCC makes every possible effort to keep tuition and fees within reach for most students, but many still need financial assistance to realize their college dreams. The Foundation has an ongoing commitment to student scholarships. Each year the Foundation provides a scholarship to a graduating senior from each of the high schools in the McHenry County College district. In addition, many other scholarships are made available to students thanks to generous gifts to the Foundation made by individuals, families and corporations. Gifts to the College Opportunity Endowment are always welcome and are actively invested to benefit students. Donors may also wish to establish a new scholarship. |
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Establishing a Scholarship Establishing a named scholarship can be a meaningful way to recognize or pay tribute to someone who has made a special contribution in your life. Scholarship donors may tailor the criteria of the scholarship to reflect a special interest or geographic preference. (For example, a scholarship for a first-generation college student or a student from Woodstock.) Restrictions should not be so specifically written, however, that few students will be eligible to apply. Donors who wish to establish a scholarship that will be given to one or more students each year in perpetuity are encouraged to consider establishing an endowed scholarship. In this case, the full amount of the gift is invested and only a specified percentage of the market value of the investment is awarded each year to students for scholarships. The original gift, and a portion of the income, continues to be invested and grow to ensure that, as college costs increase, the same number of scholarships can be made available to assist students. In order to realize sufficient to provide at least $500 a year to student recipients of a scholarship, donors are encouraged to consider establishing an endowed scholarship with a gift of $10,000 or more. Donors are also invited to make gifts to the Foundation to establish named scholarships to be awarded to students until the fund is depleted. For example, a $1,500 gift may be made in memory of someone with the instruction to award $500 to a student each fall for the next three years. Income earned on these "consumable" scholarships is applied back to the general scholarship fund. The college financial aid office manages the advertisement and selection of recipients for Foundation scholarships. A donor who wishes to be involved in the selection may sit in with scholarship selection committee when applications are reviewed. Donors are always given the opportunity to meet and congratulate the student who receives their scholarship. Scholarship donors to the Friends of MCC Foundation provide opportunities for students to transform themselves, their families, their futures and their communities. We invite you to invest in the future of an MCC student. |
Applying for a Scholarship Information on Foundation scholarships and all other forms of student financial assistance can be obtained in the MCC Financial Aid Department |
8900 U.S. Highway 14•Crystal Lake, Illinois 60012-2761
Phone: (815) 455-8721 • FAX: (815) 479-7828• E-mail
Please remember the Friends of MCC Foundation in your will.