A question:

[NYC_SKP]

1. This is quite a challenge, but I have some ideas.

I don't know your kids but I've created scholarships before with sponsor funds.

First, what qualifies as "education" in my mind is more broad than what most others might feel; different experiences outside of formal post-secondary educational programs can be very educational.

I would consider supporting experiences abroad, service learning projects, Peace Corp tours, Habitat for Humanity, etc.

I might also entertain funding a business plan if the grandchild wrote a convincing proposal, and make part-time enrollment in courses a condition of this.

Not all learners are ready for college at the same time, and some are more well suited to other pursuits.

I would try to find a way to include different possibilities.