College of Medicine Officially Launches Second Century Scholarship Campaign
In celebration of its 100th anniversary in 2011 and in support of future generations of physicians, the OU College of Medicine officially has launched its Second Century Campaign to raise at least $5 million in private funds for annual and endowed scholarships.
M. Dewayne Andrews, M.D., executive dean of the College of Medicine and a member of the medical Class of 1970, is serving as co-chair of the campaign with Dr. Jonathan Drummond, an ophthalmologist and member of the Class of 1992. Dr. Ted Clemens, a member of the Class of 1952, is honorary chair.
“It’s vital for us to increase the assistance available to our students in order to keep our top medical students in Oklahoma, be competitive in attracting outstanding students regionally and nationally, and keep the costs of medical school affordable for students from all economic backgrounds,” Dr. Andrews said.
Tuition and fees for an in-state medical student currently are $21,895 per year, a figure that does not include living expenses. This past year, out of more than 650 students, only 240 received scholarships. The average amount of these awards was $2,100, which the College of Medicine wants to raise to at least $2,500. The average total debt for a 2010 OU medical school graduate was $147,000.
An endowment gift at the $50,000 level will generate interest to award a $2,500 scholarship each year. Named endowed scholarships can be created with a gift of at least $25,000. Donors may build named scholarship endowments over several years and also may choose to provide annual funding while the endowment grows. An annual gift of at least $2,500 will fully support a scholarship, which will be awarded in the donor’s name or the donor’s designee for that year. Gifts less than $2,500 will be added to the Dean’s Scholarship Fund.
The Second Century Society has been created to honor donors who make scholarship gifts and pledges of at least $10,000. Society members will be honored publicly and invited to meet scholarship recipients at the annual fall College of Medicine Scholarship dinner.
The Second Century Society has three giving levels:
- Silver, honoring donors who make endowment gifts of $25,000 and above;
- Gold, honoring those who make endowment commitments of $50,000 and above; and
- Platinum, honoring donors who make $100,000 commitments.
For additional information on the Second Century Campaign, alumni and friends are encouraged to contact Stacey Barry, executive director of development for the College of Medicine, at (405) 271- 2852, or John Cougher, development director, at (405) 271-1811.
(Pictured: Dr. Ted Clemens, a member of the Class of 1952 and honorary chair of the OU College of Medicine’s Second Century Campaign, joins a group of current OU medical students and scholarship recipients at the official launch of the campaign to raise additional private funds for medical scholarships.)