Founded by entrepreneur Michael Bogdan, the scholarship aims to alleviate the rising costs of higher education for those committed to clinical roles. Applicants must be currently enrolled at an accredited U.S. college or university, pursuing a degree that leads directly to a healthcare-related career. Selection is based on the strength of a submitted essay, academic performance, and evidence of a sustained commitment to patient outcomes.

"Healthcare continues to evolve through innovation, research, technology, and compassionate patient care," Bogdan stated, noting that the program is designed to support students who show potential to improve the communities they will eventually serve. Bogdan, who also manages medical office properties, established the fund to bridge the gap between academic potential and professional practice. Interested candidates have until April 15, 2027, to submit their applications, with the final recipient scheduled for announcement on May 15, 2027.