How to create a scholarship?

Question

Well, I'm just a high school senior now, but how would I embark upon this process in the future?

In other words, what processes would it involve?

Answer 1

Earn s**z loads of money, then go to the school/university you want to set it up with and create one.

Answer 2

Earn lots of money so you can fund it, then determine your criteria (minimum GPA or Admission test scores, Academic vs need based, requirements for applying... essay, forms, lots to consider) and have your scholarship listed on fastweb.com so you can give it to someone else.