Establish, as a scholarship (5)

I believe the answer is:

endow

(Other definitions for endow that I've seen before include "Enrich with a gift or faculty" , "Enrich (with a facility or gift)" , "Attribute abilities to" , "Furnish, award" , "Pay to found" .)

I've seen this clue in the Newsday and the Newsday.com.

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