A scholarship offers financial support for students to cover tuition, books, fees, and other attendance-related expenses. Establishing a scholarship grants students peace of mind, enhancing their academic performance. Additionally, naming a scholarship can serve as a meaningful tribute to a loved one or serve as a vehicle to promote an organization’s brand.

Types of Scholarship Funds

  • Invested: Invested scholarships require an initial donation of at least $12,500 and serve as enduring sources of financial aid. The principal gift is endowed indefinitely, benefiting the maximum number of students over time, while the earnings provide consistent support for student aid.
  • Direct: Direct scholarship funds are established with an initial gift of at least $2,500 and are used to help students immediately. Unlike endowments, they are not permanent and exist only as long as donors contribute to them.

Many donors opt to establish both types of funds to enhance their impact. By creating both an invested and direct scholarship fund, donors enable the endowment to grow, thus increasing its potential for charitable giving, while simultaneously addressing students’ immediate needs. The Foundation actively encourages donors to invest in our students’ future by establishing an invested scholarship, commonly known as an “endowment,” while also committing to single or annual direct contributions that provide immediate support to students without diminishing the long-term impact of the invested fund. *Minimum gift amounts indicated are required to establish a new scholarship fund at OTC. Gifts of any amount can be contributed to existing scholarship funds.


Donors have the privilege of naming any scholarship they establish and determining the criteria for eligibility. Naming scholarships after loved ones is a wonderful way to honor their memory and perpetuate their legacy of assisting others. Similarly, naming a scholarship after an organization is an effective means of showcasing its values and establishing its brand as a socially responsible entity within the community.

Scholarships can be tailored to support students based on various criteria, including financial need, academic achievement, or field of study. The OTC Foundation team is available to assist in determining the most suitable criteria and guiding donors through the implementation process. Common criteria may include specific GPA requirements, preferred areas of study, or demonstrated financial need.

Alternatively, donors may opt to contribute to an existing scholarship dedicated to a particular department or division. For more information on available scholarships, please refer to the Foundation Scholarship Index.

It is important to note that while donors establish the criteria for scholarships, a selection committee comprising faculty and staff is responsible for choosing the recipients.

To explore opportunities for establishing or contributing to a scholarship, we invite you to contact us.

Have any questions? Email us now!