A non-profit organization managed by volunteers, the Korean American Scholarship Foundation (KASF), has been offering Korean American scholarships to Korean students in America, since it was founded in 1969 by a small group of individuals in Washington, D.C. With the dramatic increase in Korean immigrant communities in the US, KASF has expanded from Washington, D.C. to many other regions in the US. Its funding base has also widened as a result.
The Korean American Scholarship Foundation has three goals: to assist students pursuing academic and personal achievement, encourage community and civic service as a vital and integral part of developing leadership, and to foster pride and confidence in Korean cultural heritage and tradition.
The Korean American Scholarship Foundation has separate regions in Washington, D.C., Los Angeles, Atlanta, and Chicago. The KASF established a national executive board of representatives from each of the regions in 1989 to serve the financial needs of the rapidly increasing number of Korean-American students in the United States. The board of directors and officers of each of the regions take charge of fund raising, scholarship selection, membership, and other such committee activities.
A student who is enrolled in an undergraduate or graduate full-time program can apply for a Korean American scholarship from The Korean American Scholarship Foundation. The recipient of the scholarship is selected on the basis of financial need, academic achievement, and excellence in extra-curricular activities in school and community services. The applicant for the Korean American Scholarship program must submit his application to his KASF region, which is the state where his school is located. Each of the regions conducts its own fund raising events. They include an annual Korean American Scholarship award ceremony dinner, sports and cultural programs and other special activities. Donations are welcomed throughout the year from individuals, corporations, and communities. The following are the four kinds of Korean American scholarships offered by the Korean American Scholarship Foundation:
The Chair Scholarships are established when individuals or corporations donate $20,000 or more for a lifetime scholarship. The donor can request a specific academic major or a school for a scholarship. Each student receives $1000.
Designated Scholarships award students in specific fields. The contributions to this Korean American scholarship are either one-time or on a continuous basis. A student here receives $1000 or more.
General Scholarships serve the needs of students engaged in various academic fields and backgrounds. These scholarships are sustained by the funds generated from different fund-raising activities or other donations. Each student receives from $1000 to $2000.
The High School Achievement Awards are offered to High School juniors. They are selected on the basis of academic achievement including PSAT, community service, talent, and leadership. Each High School junior receives $200 or more.
KASF has catered to the growing needs of the Korean American community by increasing its scholarship awards annually, reaching out to other minority groups through scholarship awards and by collaborating with community organizations. The Korean American scholarship foundation is run and governed by volunteers. More than 95 per cent of contributions received by the Foundation are allocated to scholarships.
The Korean American Scholarship Foundation, through its proper management of investment strategy, has become the driving force behind the success of Korean students for more than 30 years.
