College senior Brian Powell says he will graduate in May debt-free because of a four-year renewable scholarship awarded through the Oklahoma City Community Foundation.
The Ruth Mershon Scholarship provided $7,000 the first year and â€" because Powell maintained the requirements set forth â€" continued each year. This final year, it will pay $8,000.
"It was a lot more than I ever imagined ... a blessing from God," Powell said. "I would not have been able to go to college all four years straight without going into debt."
The scholarship is one of more than 135 administered by the foundation.
"A lot of them are renewable each year," said Megan Hornbeek, scholarship funds coordinator. "They help students not just get to college, but get there and finish."
Some scholarships are merit-based, some take into account financial need. Some accept only applicants from a certain high school, while others are open to students statewide. All award recipients are chosen by a selection committee, not the donor.
"Every scholarship is unique, and every student has their own path and their own journey," Hornbeek said.
The foundation staff works with donors to ensure there will be a good applicant pool for each scholarship. If the requirements are too specific, the money could go untapped.
"The ultimate goal is not to have unused money," Hornbeek said.
Paying it forward
Many donors establish a scholarship to help students from the same high school or college they attended or who intend to pursue the same major.
"Often the donor wants to give back because they had a successful career or some experience that impacted them positively," Hornbeek said. "They want to help students ... get to graduation in a field they are passionate about."
The foundation has made 8,430 awards totaling $15.6 million since 1997, she said.
Accepting money from generous donors and distributing it to thankful students makes for a great job, Hornbeek said.
"My favorite day of the whole year is the day I get to call the recipients of the Carolyn Watson Scholarship," she said. "A number of the students start crying on the phone."
The Carolyn Watson Opportunities Scholarship is for students who attend high school in 62 rural Oklahoma counties. They must have financial need, a grade point average of 3.25 and exceptional accomplishments outside the classroom.
The award is up to $10,000 over four years for recipients who maintain a 3.0 grade point in college. Since 2010, 35 students have received the scholarship.
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