There’s multiple ways to create a scholarship. Pretty much if you would like to create a scholarship, you can first approach a university to actually create the scholarship with you. You can do it on your own which can be very time consuming. You can also try nonprofit organizations as well.
Now, when you’re thinking about creating a scholarship, there’s a couple of things you need to determine. The first is how long you want the scholarship to be running.
It is whether you want it to be a one year scholarship, you want to keep adding to it every year, what types of criteria you want to set forth, you want it to be GPA or you want to be based on what major a student is pursuing.
As well as, that you will definitely want to consider whether the student needs to turn in an essay or if you even want to be part of the process of determining who qualifies for the scholarship.