Three Ways Philanthropists Channel Money into Education

Three Ways Philanthropists Channel Money into Education

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One of the favorite areas of a philanthropist to donate money to is to the cause of education, but there are many ways that a man or woman can do this. In some cases, they will create a foundation, so the areas of education that are most dear to them can be funded for many years after they have died. The following are three ways that a philanthropist will support the cause of education.

The funding and awarding of college scholarships

One obvious area is the awarding of full or partial scholarships to qualified students. These scholarships are sometimes designed to help those with limited means to attend college, but who have earned good grades in school. It is often the case that a scholarship will be awarded to attend the alma mater of the philanthropist, or a scholarship to study in a particular subject that is close to the heart of the philanthropist. Another example is special funding for women to encourage them to study subjects that have a low female representation such as math and science. A philanthropist may also focus on the need for graduate degrees in certain subjects, especially those subjects that lack women candidates.

Funding for educational campaigns

There are many things that are not taught in schools are at least not taught well enough. A philanthropist may give money so that private groups can educate the public about a particular subject. Perhaps there is a disease that can be prevented or cured when detected early. An education campaign such as this is designed to develop awareness of the problem in the general population.

The funding of libraries

It has been said that libraries are the real universities of our country. There is no greater continuing education than reading, and it is the local libraries that provide the educational materials for people at the local level. Philanthropists who appreciate the role that libraries play in our society’s education will support libraries in various ways. They may donate money directly to a library, or they may help fund the expansion of the library’s building. A philanthropist may also donate money to acquire a specific collection of materials, or he may donate materials from his own collection to the library.

Philanthropists will support education in many other ways, and they will often channel their money through a foundation that they have created. When this foundation is large enough and people become aware of it, they will apply for grants from the foundation. These foundations exist throughout the United States. Some of them fully support education, while others do so partially. One example is the Rosenkranz foundation. Created by Robert Rosenkranz in the year 1985, most of the funding is dedicated to education.

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