Named Scholarship & Bursaries
As long as there are students, there will be a need for scholarships and bursaries. Methodist Ladies' College's Scholarship program has a powerful goal - to allow access to an MLC education for girls and families requiring financial assistance to pay School fees. Scholarship and bursary donors take great satisfaction in knowing they are helping worthy students, as well as the College.
What is a scholarship?
At its most basic meaning a scholarship is financial aid. This may be used to cover the costs for student tuition and in some cases, boarding accommodation. Named scholarships are often designated for students who fit a particular profile and criteria; which usually reflect the values of the donor.
What is a bursary?
A bursary is an award or a grant that may be awarded to a student, sometimes as part of a financial assistance package such as a scholarship. Bursaries are often awarded to complement school fees and are often directed towards study expenses such as textbooks, equipment and uniforms.
Endowment of your gift
The perpetual existence of a scholarship endowment, and the opportunity for existing and future family members to contribute to it at any time, will be a powerful means of encouraging fundraising efforts in future generations. At the same time, it will benefit untold numbers of future MLC students who would have been unable to attend the College without the financial assistance which scholarships provide.
Gifts made to the scholarship endowment are invested in perpetuity to generate earnings to support the purposes of the endowment. The gifts form the corpus of the endowment. The corpus is never spent; the scholarships are provided by the earnings from the corpus. Scholarships may also be endowed by planned gifts/bequests.
All contributions in support of the MLC Scholarship Program are tax deductible.