FAYETTE, Iowa (September 10, 2008) - Three Upper Iowa University professors have started two new endowment scholarships at the University using their own funds as seed money. A scholarship will be awarded to one outstanding student in information technology (IT) and one in environmental science.
Drs. Kata McCarville, assistant professor of geosciences, and Nigel George, assistant professor of mathematics and physics, each donated their stipend for serving as marshals during May graduation. Dr. Joseph Elarde, assistant professor of information technology, contributed his overload salary.
"This is more than just a gesture by these professors," said Mary Rettig, vice president for advancement. "It is a clear demonstration of the commitment our faculty has vested in the students here at Upper Iowa."
According to Rettig, endowment scholarships are typically $20,000 or more, with the annual payout set at around five percent. Upper Iowa awards nearly 150 merit scholarships each spring and has raised over $250,000 in the past four years alone from its Team Peacock/RAGBRAI fundraising effort. Upper Iowa students graduate with lower debt than any other Iowa college or university, averaging $20,284.
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