The Hazelwood PTA Council Scholarship Foundation was formed in 1959 for the purpose of providing scholarships to graduation seniors of the Hazelwood School District. Two scholarships of $400 each were awarded in 1959. The two recipients were to become teachers in the Hazelwood School District.
Various fund raising efforts by the Hazelwood PTA Council provided more scholarships. In 1976 the PTA Council started a new fund raising effort in the form of the Hazelwood Picnic Day at Six Flags over Mid-America. In 1976 25 scholarships were awarded for a total of $15,000. In 1982 the PTA Council started the Annual Fun Run/Walk. This activity made more scholarships available. In 1982 there were 42 scholarships awarded for a total of $42,294. In 1992 the total amount of scholarship awards was over $1,000,000. Then in 2002 the total amount awarded exceeded $2,000,000. As of June 2010, the total number of scholarships awarded stands at 2,343 for a total of $2,805,370.
The scholarships are funded by the Hazelwood PTA Council for the Fun Run/Walk. Donations from all the PTA units in the Hazelwood School District, employee groups, and donations from the community and corporate sponsors.