Considering that the average OU student debt is currently $21,517, it is difficult for students to choose Education (average starting salary $31,000) over more lucrative fields. Scholarship funding for Rainbolt College students is on the rise, especially with the establishment of the $1 million Jeannine Rainbolt endowment.
In the 2014 fiscal year, the College awarded just over $101,000 in undergraduate scholarships, with the average award $1,000. Another $60,000 in graduate scholarships were awarded, with an average award of $800. With 700 undergraduate students and an additional 700 graduate students, this funding falls far short of meeting the need for scholarships or the goal of recruiting top students with attractive scholarship offers.
Among our goals:
- More graduate scholarship endowments
More graduate scholarship endowments will help OU compete nationally for top graduate students in Education. These scholarships would focus on full-time graduate students who support teaching and research in the College because those students have such a broad impact on the quality of education offered to all Education students.
Ideally, these endowments will generate stipends of $5,000 to $10,000 a year, which would be added to the University’s typical graduate student package of $15,000.
- More endowed scholarship funds for undergraduate students
More endowed scholarship funds for undergraduate students. Ideally, these endowments will generate enough income each year to fund scholarships that will substantially cover the annual cost of tuition, fees and books, which is currently about $7,000 a year.