Define the scholarship purpose and goals
Choose the target recipients and eligibility criteria
Decide the scholarship amount and number of awards
Select the funding source
Set up a dedicated bank account or fund
Create a scholarship name
Establish application requirements
Write selection criteria and review process
Determine the award timeline
Draft legal and tax documents
Create a budget and long-term funding plan
Build an application form
Form a review committee
Promote the scholarship
Collect and evaluate applications
Select recipients and notify them
Disburse funds to recipients or schools
Track records and maintain compliance
Review and update the scholarship annually