The cost of college still concerns many young adults. That’s why an Atlanta scholarship story, now seven years old, still crops up. according to Morehouse CollegeOprah Winfrey visited the school on Monday, October 7, 2019, to celebrate the 30th anniversary of the Oprah Winfrey Scholars Program. He announced a gift of $13 million. The 2019 gift brought his total contributions to $25 million.
How a 1989 gift became an enduring program
It all started in 1989. That year, Winfrey gave Morehouse money to establish a scholarship fund. Morehouse is a historically Black all-male college in Atlanta, Georgia. At the 2019 event, he explained why he chose it. He said the school has a “moral core” and a goal of shaping servant leaders. She also said that she felt the same way when she went to school for the first time. This fund became the Oprah Winfrey Scholars Program.
Morehouse President David A. Thomas said the program paid for the education of about 600 scholars over the next 30 years. He said the scholarships also helped students gain global experience, taking them beyond the classroom and to many parts of the world. The program provided much more than tuition assistance.
A surprise gift and a day of celebration
That Monday, Winfrey met with 47 current Oprah Winfrey Scholars. He welcomed them as his “sons”. He also had lunch with faculty, staff, trustees and other guests. The school unveiled an oil portrait to honor his years of support. More than 500 people attended the tribute meeting. Winfrey also vowed to continue funding the program so future Morehouse men can receive an education.
The new donation brings his total contribution to $25 million. According to Morehouse, this gift made the endowment the largest scholarship endowment in the history of the college. The school also highlighted alumni in the program who benefited from its seed money. One was Randall Woodfin, Class of 2003. He was elected mayor of Birmingham, Alabama in 2017 at the age of 36, making him the city’s youngest mayor in more than a century. The other was Tope Folarin, who graduated in 2004. According to the school, he was Morehouse’s third Rhodes Scholar and an award-winning author.
Why does helping with college costs matter?
College debt can keep piling up after you graduate. This problem was discovered in 2016 report From the Brookings Institution, “Black-white disparity in student loan debt more than triples after graduation.” Authors Judith Scott-Clayton and Jing Li examined graduates of the 2007–08 school year. The average debt at graduation was $23,420 for black graduates and $16,046 for white graduates. Those averages included students who had never borrowed.
After four years, the difference was about $25,000. The average loan for black graduates was $52,726, while the average loan for white graduates was $28,006. The authors said the growing gap was due to accumulated interest and student loans for graduate school. For graduates of the 1992–93 school year, the four-year difference was less than $2,000. The report examined graduates from across the country, not just Morehouse students, so it can’t tell us how Oprah Winfrey Scholars performed, but it does reflect the broader problem that such aid could facilitate.
What can readers learn from this story?
Student debt cannot be resolved by any individual scholarship, and these sources do not claim that it can. What they show is long-term commitment. Winfrey started in 1989 and as of 2019 has donated a total of $25 million. During that time support of about 600 scholars was received. The Brookings report shows how different debt can look when graduates repay it over a few years. This story is a reminder for students planning to attend college today. Start searching for scholarships early, ask about named awards at schools, and consider each dollar of aid as a way to borrow less.