Importance of Scholarship Giving

A college education continues to be critical to the quality of life. Over a lifetime of work, the average person can expect to make 75 percent more (or $1 million more) by earning a college degree.

Statistics show that no U.S. state with a low proportion of bachelor’s degrees has a high per capita income.

Educational costs continue to rise, making it hard to fund a college education without accumulating a significant debt.

While OU charges tuition and fees near the bottom of the Big 12, an OU education is still a costly undertaking.  For the 2009-10 academic year, the average cost of attending a year at OU (tuition, fees, books, room and board, and related expenses) is $18,800. For out-of-state students, that number is $28,781.

More than 50 percent of all OU students and their families need to take out student loans to pay for college costs, with the average college debt currently at just over $20,000.

About $6.7 million in cash scholarships are given out each year, with the average award being $1,000. Another $20.6 million in tuition waivers are given needy and academically talented students.