Please see below for frequently asked questions about supporting scholarships at Luther.
Scholarships may be funded with cash, gifts of stock, or other appreciated property, or through planned gifts. If funding a scholarship through a planned gift, more than the minimum commitment may be required, and the amount will depend on the donor's age. Endowment gifts to the Legacy Trust are administered according to the endowment policies established by the Luther College Board of Regents. Additional contributions may be made to a fund at any time, thus augmenting financial assistance for students.
If you wish to establish a named scholarship endowment fund but cannot give the full amount initially, the college will establish the fund on an inactive basis. You may continue to contribute to it, and the earnings on all gifts to the fund will be reinvested fully each year, adding to the fund. No scholarships will be awarded while the fund is inactive. Upon reaching the minimum commitment balance for the appropriate fund type, the fund will become active, and the first awards distributed in the fall of the following academic year. The college respectfully requests that endowed scholarships achieve the minimum commitment level within five years of establishment.