Otsego graduates get $2m endowment

OTSEGO, Mich. (WOOD) - A $2 million scholarship fund was set up by a man whose sons attended Otsego High School and will be used to help Otsego graduates planning to go to college.

Emil Popke died in June 2012 and provided the gift to the Allegan County Community Foundation, Superintendent Dennis Patzer said in a release.

The Popke Family Scholarship Fund will initially have $200,000 for the next three years, including this one. The fund is set up as an endowment and is projected to generate between $60,000 and $75,000 each year. Scholarships awarded on an annual basis will depend on how much the endowment grows, and is designed to be in existence in perpetuity.

The scholarships will be a mix of one-time awards and renewable scholarships. Each scholarship will be worth no less than $1,500.

Any Otsego student with a grade point average of at least 2.75 can apply.

The money from Popke -- known as "Bud" -- came from an inheritance he and his sister received from their mother. His sister died several years ago, and they agreed to set up this endowment for the students of Otsego.

"What a gift," Patzer said in a statement. "This has the capability to not only make a difference now, but a lasting impact."

To help families apply, there will be a financial aid information night on Feb. 5 at the Otsego High School auditorium. Members of the Allegan County Community Foundation will also be there to answer questions.