Named scholarships require a minimum pledge of $500 for three-years resulting in an annual scholarship in the name of a family, a graduate, a class, or a company.  Another benefit to a contributor in selecting the named scholarship is the ability for them to provide direction in how those dollars are awarded.  For example, one could identify a specific area of study or industrial trade for eligible students pursuing that particular area.  The contributor can outline specific criteria to be met for earning that scholarship such as class rank, participation in certain activities (sports, music, art, etc.).  This scholarship option gives the contributor a lot of latitude in directing its end use.