At Bold.org, donors have the flexibility to make a meaningful impact on students’ lives through scholarships and scholarship funds. While these terms are often used interchangeably, they serve distinct purposes within our platform. Understanding the difference between scholarships and funds—and how they work together—can help you decide the best approach for supporting students.

A scholarship is a financial award gifted to a student to help cover educational expenses, such as tuition, fees, or textbooks. Scholarships are typically based on criteria set by the donor, which can include academic achievement, financial need, personal background, or career aspirations. By tailoring these criteria, donors can ensure their scholarship aligns with their values and supports students who meet specific qualifications.

Each scholarship on Bold.org is unique, giving donors the freedom to design awards that reflect their goals and priorities. Scholarships are awarded through a competitive process, where students submit applications, essays, or other materials, and donors (with the help of Bold.org’s Donor Team) review candidates to identify finalists and winners.

A fund is a pool of money set aside specifically to support scholarships. Donors can create a fund to facilitate the collection of contributions from their network, family, friends, or colleagues, leveraging their community to increase the impact of their scholarship. Funds are especially useful when donors want to engage others in their mission to support students.

On Bold.org, funds enable donors to crowdfund scholarships, allowing anyone to contribute to the cause through tax-deductible donations. This makes it easier for donors to rally additional support and grow their scholarship's financial base over time. Funds can be open for ongoing contributions, allowing donors to continuously build up the resources needed to offer scholarships in future cycles.

On Bold.org, scholarships and funds are distinct but often work hand in hand. A fund acts as the financial foundation for a scholarship. Once a fund reaches the minimum threshold of $500, it can be used to create or support a scholarship.

A fund allows donors to raise money before a scholarship is formally launched and helps sustain it for years to come. By combining crowdfunding through a fund with the direct impact of awarding scholarships, donors can scale their efforts to support more students over time. This flexible approach enables the creation of sustainable scholarship programs that grow as more contributions are made.

Whether you’re looking to create a one-time scholarship or establish a long-term fund that continuously supports students, Bold.org offers the tools and flexibility to meet your philanthropic goals. Some donors prefer to fully fund a scholarship themselves, while others opt to start with a fund and invite their community to contribute. Both approaches enable you to make a lasting impact on students’ futures.

Sign up for a donor account today and start creating your personalized scholarship or fund. Together, we can help reduce the burden of student debt and empower the next generation of leaders.