On March 18, 2010, the Jeffrey Cheah Foundation was officially launched by the Honourable Prime Minister of Malaysia Dato' Sri Haji Mohammad Najib bin Tun Haji Abdul Razak in the presence of the Royal Patron H.R.H the Sultan of Selangor. This self-perpetuating entity, established by the Founder and Trustee of Jeffrey Cheah Foundation, Tan Sri Dr. Jeffrey Cheah, AO replaces the Sunway Education Trust Fund set up in 1997 which formalised the status of Sunway College as a not-for-profit educational institution. All surplus funds from the institution are reinvested for scholarships and research as well as upgrading of campus facilities.
As of 2021, the Jeffrey Cheah Foundation has awarded more than RM570 million in Scholarships to thousands of deserving students in various fields of study.
At Sunway College@ Velocity, the following Scholarships are available to prospective and current students:
| Prospective Students | ||
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| Academic Excellence Scholarship | Need Based Scholarship | External Scholarship |
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| Current Students | |
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| Sunway Awards | External Scholarship |
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