I started a small yearly scholarship at my old university 10 years ago and have seen some wonderful students graduating. It isn't much but pays for some supplies and gives them a sense of reality that someone in their field believes in them. I love the conversations we have, I make it a condition of the scholarship that we talk for a while and I hear their stories.

Note - I did this because I also received such a scholarship and it was critical in building my sense of belonging.