Thanks to everybody for your responses.
We ended up deciding to use the ACA's scholarship program for campership. We haven't used the ACA program yet, because we're working on our accreditation this year, but I like it for a couple of reasons. A big one is that we're for-profit, and we wanted to avoid the legal and financial hassle of taking donations directly and/or setting up a non-profit partner foundation (either our own non-profit or with a fiscal sponsor) if we could. Through the ACA, they serve as a fiscal sponsor of sorts but it's already set up and the application and all are fairly easy. A lot of that was because we assumed that our people and alumnae base woudl give larger donations if they're tax-deductible, too. I also like it because we can still have full control over the scholarship process - fundraising, applications, awards, etc. And, the one-time 7% fee seems really reasonable, in comparison to a lot of the other options I looked into.
I hope this helps anybody who has look in here with questions. Feel free to private message me or let me know if you have specific questions in your process. I'm happy to discuss further.