The Higher Education Endowment Fund – HEEF / Waqf
وقف التعليم العالى للمنح الدراسية
لطلبة الثانوية العامة المتفوقين
The Higher Education Endowment Fund – HEEF / Waqf
Concept Note
Introduction
Education is not just a fundamental pillar of national development but an urgent need. It is crucial to economic growth, social progress, and overall national stability. Higher education, in particular, is a key driver for innovation and competitiveness in the global economy.
The Egyptian government is encouraging the establishment of private and chartered universities with the impetus of improving education quality. Since these universities charge fees, they advance on education quality but not on inclusivity.
Therefore, many talented students in Egypt face financial constraints that limit their ability to pursue private higher education to achieve better employment potential and break the poverty cycle.
Recognizing the challenges, Waqfeyet Misr is taking the lead to establish the Higher Education Endowment Fund (HEEF), a sustainable financial mechanism based on Egyptian funds to provide long-term financial support to university students.
The HEEF will be launched with an initial capital fund. Selecting WPartner as the pioneer funder of this initiative draws upon its pivotal role in national development through successful philanthropic engagement. It is also fortunate that both organizations carry the name of Egypt: WPartner and Waqfeyet Masr.
Hence emphasizing the nationalistic narrative and paving the way for more patriotic entities to join the initiative. Through securing current and endowed grants, Egyptian youth will be immediately receiving opportunities for equitable access to quality higher education. Moreover, by investing the endowed grants wisely, the fund will generate steady returns, ensuring that financial support is sustained for future generations of achieving students.
To maximize the impact of this initiative, we need active engagement from many sectors. We will solicit funding from the banking sector, private corporations, and philanthropic organizations to contribute to the endowment fund. With stakeholders’ participation, this collaborative approach will significantly expand the fund’s capacity, enabling it to reach more students and cover a broader range of educational needs. Furthermore, this initiative aims to foster a culture of social responsibility, and stakeholders’ involvement is crucial in encouraging businesses and individuals to invest in the future of Egypt’s youth.
By alleviating financial barriers to higher education, the HEEF will not only empower students to achieve their academic and career aspirations, but also unleash their potential to contribute to a stronger, more skilled workforce that will drive Egypt’s economic growth and global competitiveness.
The successful implementation of this initiative will set a precedent for sustainable educational support, ensuring that financial constraints are no longer a barrier to accessing quality higher education in Egypt.
Objectives of the Fund
- Provide equitable access to quality higher education through financial assistance to underprivileged, academically promising students to join private, national or chartered universities.
- Ensure gender equity by providing equal number to male and fenale students with scholarships.
- Ensure sustainability through an endowment model (waqf) where funds generate long-term returns.
- Provide a sustainable stream of Egyptian funding that is not impacted by international development organizations.
- Engage corporate and financial institutions to contribute and match the initial capital.
- Support students in diverse fields, with a special focus on critical areas such as AI, engineering, science, technology, mathematics and medicine.
- Foster a culture of philanthropy and social responsibility among businesses and institutions.
- Offer scholars hands-on experience through providing local and local and international internships and employment opportunities during their undergraduate journey and upon graduation.
Fund Structure and Management
- The HEEF is a perpetual endowment waqf fund, where only a percentage of the annual returns will be utilized to support students while maintaining the principal. It also empowers donors to offer current grants that support students at the time of donation.
- Waqfyet Misr Foundation is a registered non-profit organization with a track record in empowering communities through modernizing and innovating sustainable waqf models. With a topnotch, professional Board of Trustees, who will oversee fund investment and management, transparency, effective governance, and compliance with financial regulations will be guaranteed. Thus, giving donors confidence that their contributions will be utilized effectively (Waqfeyet Misr BoT includes Dr. Hossam Badrawy, Professor, Faculty of Medicine, Mr. Hossam Saleh, Executive Director, United Company, and other prominent figures from the banking sector).
- Financial experts will professionally manage the fund, ensuring optimal investment and returns.
- The fund’s strategic direction will be steered by the investment committee within the board of Trustees, which is a diverse group comprising distinguished representatives from the foundation, academia, the banking sector, and corporate sponsors. This ensures the fund’s decisions are well-informed and aligned with the students’ needs and the donors’ expectations.
- An advisor with a long experience in international higher education with a focus on grants and non-profit organizations will formulate the program recruitment, selection and grant administration plans.
- Upon completing the target endowment fund, language training and accommodation will be added to the benefits to ensure access of underprivileged students both geographically and economically.
- Current grants: Donors can also contribute directly to the HEEF objectives through funding current grants that go immediately into named scholarships under the donor’s name.
Fundraising and Expansion Strategy
- Matching Contributions: Approach leading banks, private corporations, and philanthropic entities to match or contribute additional funds, thereby doubling or tripling the initial capital.
- Corporate Social Responsibility (CSR) Engagement: Encourage companies to invest in education through their CSR programs, offering tax incentives, positive branding opportunities, and a skilled workforce for the future.
- Public-Private Partnerships (PPP): Collaborate with the government and educational institutions to ensure policy alignment and maximize impact.
- Individual Donor Programs: Establish a system where alumni and individuals can contribute to the fund through structured donations or scholarships.
Implementation Plan
Phase 1: Fund Establishment (First three years)
Secure the initial fund commitment of 5 million EGP from MM over three years:
- FY25: 500,000
- The whole amount will represent a direct grant targeted at funding two scholarships for one male and one female student with financial hardship. They will join STEM majors at national chartered or private universities. The cost of disbursed fees is estimated at 250,000 EGP for the first year: Academic Year 2025/2026.
- FY26: 2,500,000
- The amount will be invested to yield the highest interest rate. Received in January, 2026, it will yield interest every three months, allowing disbursement of scholarship funds to the two students for the second year. The whole interest will be disbursed but the initial funding will remain unspent. This will cover Academic Year: 2026/2027.
- FY27: 2,000,000
- Receiving the fund in January, 2027 will enable the program to award a third scholarship as of Academic Year 2027/2028. Both funds (approximately 4.5 million EGP) will yield interest. Hence, allowing for the third scholarship.
The interest will allow for the first two students to finish their studies in AY 2030/2031 if they enroll in an engineering program (five-year program). The third scholar will still have two years to finish her/his studies. The program can take in two new students in 2031/2032. The process will continue to take place given the constant interest rate with full spending of the yield.
Scholarship Management:
- Direct recruitment and selection for students who can start their undergraduate journey in academic year 25/26
- Fund students in select majors with preference given to those who have secured admission at selected universities
- Draw grant agreements with legal guardians and secure the written endorsement of the Minister of Higher Education and Scientific Research to conduct monitoring of grantees’ performance. The agreements will include minimum GPA to sustain the funding.
- Disburse tuition fees directly to the universities and pocket money to students on a monthly basis.
- Ensure scholars obtain the required educational materials including laptops and/or other necessary objects needed to successfully complete their studies.
- Coordinate summer internships for grantees and support in identifying employment opportunities to make up for their lack of social capital.
Marketing Campaign:
Expected Impact
Expected Scholarship Cost
- WPartner will be the pioneer funder. The company name will be represented in all current and future HEEF narrative.
- The scholarships will be named under “WPartner Scholarships”
- Social media presence of the name and logo of MM
- Inviting the company representative to speak about the initiative in conferences, workshops, social media and traditional media outlets.
Conclusion
- The Higher Education Endowment Fund is a pioneering initiative to empower young Egyptians through higher education. By leveraging the initial capital and encouraging institutional support, we can create a lasting impact on education and national development. Through strategic management by the Waqfeyat Misr Foundation and strong partnerships with other foundations, banks and corporations, this fund will serve as a beacon of hope for thousands of students across Egypt.
- Beyond financial support, the HEEF aims to cultivate a culture of academic excellence and innovation, enabling students to reach their full potential. By investing in human capital, we are investing in Egypt’s future using Egyptian funds directed through CSR programs of corporations and banks operating in Egypt—creating a generation of skilled professionals, entrepreneurs, and leaders who will contribute to national and global progress. The success of this initiative will serve as a model for sustainable
- educational funding, demonstrating the power of collaboration between the private sector, civil society, and philanthropic organizations.
- We invite all stakeholders—Foundations, banks, businesses, academic institutions, and individuals—to join this transformative journey. Together, we can make higher education accessible to all and ensure that financial limitations no longer hinder the aspirations of Egypt’s brightest minds. The HEEF is more than just a financial instrument; it is a commitment to nurturing the next generation of change-makers and driving sustainable development for the country.