Nelson Mandela as President of South Africa. After attaining his freedom, Nelson Mandela led the ANC in its negotiations with the governing National Party and various other South African political organizations for an end to apartheid and the establishment of a multiracial government.
Merit Scholarships. Merit scholarships, on the other hand, are not dependent upon a familyâs financial need. Merit scholarships are most commonly awarded one of two ways: a studentâs connection with an affinity group or for a studentâs academic, athletic, or artistic ability. The most common type of merit scholarship is one that is given for a studentâs academic, athletic, or artistic ability. The scholarship amounts vary by school but can range from $500 to full tuition.
Determine the duration of the award. Some scholarships make a one-time award to one or more students, while others offer them support for multiple years. In addition, scholarships may be awarded only during one year, or they may become an ongoing program with application cycles each year, or on some other set cycle. As a reference point, a scholarship awarding $1000 per year may need an endowment fund of $20,000-$25,000. 2  If you choose to create an endowed scholarship, you should talk to a trusted investment broker about creating a sustainable plan for the scholarship.