This article aims at explaining the modern means of investing the endowment fund and the use of profits realized from it for the educational projects. As the endowment fund is purposely established in Shariʻah to serve as a source of revenue and a means of bettering the lots of the people, especially the less privileged and poor ones, which include students, investment of the fund will therefore preserve the endowment institution. Besides, the rewards of the philanthropists still continue. Also, the spending of the endowment funds on the educational projects is of paramount importance. This is because the benefits and merits of knowledge are innumerable. It is impossible to carry out religious obligations without education and knowledge. Education enhances the welfares of the people in any society. Hence, this study focuses on what is connected with endowment funds. And to be precise, it is made of three basic headings: first is endowment fund and its importance in the religion, second is the investment of the endowment funds, while the third is the expenditure of the endowment funds on the educational projects. In order to have a tangible and useful result from this work, there is need to construe everything by examining the views of the jurisprudent scholars, from the pages of literatures and research works, in respect of the concept of endowment fund and issues associated with it like its investment, means of its investment and its beneficiaries such as students