Frequently Asked Questions

Let us help you answer some of the most commonly asked questions.
How do I donate to the Vermont Scholarship Fund?

Donating to the Vermont Scholarship Fund is easy. Plus, it’s tax deductible for you—and your donation goes directly to scholarships for Vermont students. Learn more about donating to the Vermont Scholarship Fund >

 

How do I start my own scholarship fund?

Starting your own scholarship fund is simple thanks to our knowledgeable staff members. To get started, simply give us a call at 888-253-4819 or email us at scholarships@vsac.org to set up a meeting.

Our staff members will walk you through the process from start to finish, helping you tailor your scholarship to reflect your personal and philanthropic values as well as your financial goals. Then, your partners at VSAC are ready to take care of all the details of administering your scholarship. Learn more about starting your own scholarship fund >

 

What’s the difference between an annual scholarship and an endowed scholarship?

An annual scholarship is a fund in which the money you contribute is directly disbursed. You can contribute as much as you’d like—or are able—each year. Or, you can contribute a lump sum to be disbursed for a set number of years or until the fund balance is zero. You can set up an annual named scholarship with as little as a $1,000 annual donation.

An endowed scholarship is a permanent fund in which you make a substantial contribution of funds that VSAC invests as a managed fund. The goal is for your principal (the amount you contribute at the start) to remain intact, while an agreed-upon annual “spend rate” (typically 4%-5%) is used to award the scholarship each year. An endowed scholarship is designed to last forever). To set up an endowed scholarship, you’ll need a contribution of at least $25,000.

Our staff can help you decide which type of scholarship fund may be right for you. Learn more about starting your own scholarship fund >

 

Is my donation tax deductible?

Yes. Contributions are tax-deductible to the extent allowed by the law.
 

What’s the Vermont Scholarship Foundation Tax ID?

If you’re a donor and you need the VSF federal tax identification number, please call us at 888-253-4819 or email us at scholarships@vsac.org.

 

What’s the relationship between VSAC and the Vermont Scholarship Fund?

The Vermont Scholarship Fund is a 501(c)(3) affiliate of VSAC. VSAC is a nonprofit established in 1965 by the Vermont legislature.

The Vermont Scholarship Fund acts as a charity to receive donor gifts. VSAC then administers the scholarships set up by Scholarship Fund donors.

The VSAC Board of Directors also serves as the board of directors for the Vermont Scholarship Fund.

 

What does VSAC do in administering my scholarship?

Let VSAC do the work of administering your scholarship!  Learn more about the services we provide when you establish your named scholarship with the Vermont Scholarship Fund.  Learn More >

 

Is it better to establish a scholarship fund with my local high school or with VSAC?

It depends on your goals.

If you want your scholarship to benefit only currently graduating high school seniors from your local high school, then you likely should set the scholarship up directly with that school.

If you’d like to help students from more than one town or high school, from a particular region or county in Vermont, or from anywhere in the state, then you’ll want to consider setting up your scholarship through the Vermont Scholarship fund.

Contact us to get started!

By phone: 888-253-4819

By email: scholarships@vsac.org

 

How long will the Vermont Scholarship Fund last?

We have built a scholarship endowment that is designed to exist in perpetuity (meaning forever). Our annual distribution rates are determined on an annual basis and are meant to ensure that the principal of the funds will gradually increase over the long haul.

 

Does the Vermont Scholarship Fund accept matching gifts?

Yes. Many companies have matching fund programs through which they match some portion of your gift to the scholarship fund. This is an easy and effective way to increase the amount of your donation.

 

How much money is in the Vermont Scholarship Fund?

The balance of the Vermont Scholarship Fund endowment is about $5 million. Each year, we receive more than $3.6 million dollars from private philanthropic sources and distribute this money for annual scholarships. In addition, approximately $2.5 million flows into—and out of— VSAC annually for the scholarships funded through state and federal programs.

 

Are scholarships awarded in cash?

No. Most scholarships are awarded to pay for tuition, fees, and other costs of attendance. Checks are made payable to the institution the student is attending.

 

When will my scholarship be awarded?

VSAC scholarships are awarded in April, and we begin disbursing (giving out) funds in August. Once a student’s attendance is verified, we disburse scholarship funds by term to the college the student is attending.

 

I’d like to establish an endowed scholarship. How much time do I have to meet my $25,000 commitment?

The pledge period for an endowed scholarship fund is 3 years from receipt of your first contribution. Generally, no scholarships are awarded until the $25,000 level is reached.

 

How do I apply for a Vermont Scholarship Fund scholarship?

You’ll need to apply through VSAC. All scholarships established through the Vermont Scholarship Fund are administered by VSAC. Learn more about applying for VSAC-assisted scholarships >

 

How can I learn more?

Call us at 888-253-4819 or email us at scholarships@vsac.org.