School of Family & Consumer Sciences
Need: Student Financial Health Education Center Endowment
It is no secret that debt is a serious problem with Americans today and college students are not exempt. A survey from the General Accounting Office a few years ago showed that the average college graduate leaves school with about $19,400 in debt. The GAO also reported that students leave an average unpaid balance on their credit cards of $2,748. Many students don’t even realize that they are deep in debt until they have damaged their credit rating and hindered their ability to purchase a car or home.
A Financial Health Education Resource Center is currently operated through the School of Family and Consumer Sciences in cooperation with the University’s Health Education Resource Center.. One graduate student serves as the Financial Health Education Resource Coordinator. The Center serves as a resource to improve the financial well-being of individuals through education and guidance in the areas of personal financial management and credit. In addition to the benefits the Center provides to the students, Eastern Illinois University also benefits through increased student retention due to a reduction in student debt, research opportunities, student recruitment, community outreach activities, and a reduction in accounts payable time on student bills.
Private support is needed to fully establish the Center with one full-time graduate assistant counselor and a full-time faculty member. The appropriate level of funding can allow the service to be free to the students who use the service. The graduate assistant would also conduct research and measure outcomes of the Center. Both positions would serve as guest lecturers in classes on financial matters across campus and as instructors for a credit course in Family and Consumer Sciences.
Need: Endowed Professorships
To provide leadership within each discipline, the School needs to employ distinguished faculty with successful records in teaching and research that can involve and mentor students and faculty in research, consulting, executive education, and teaching. Distinguished professors would have the time and resources to be catalysts for innovation in curricula and teaching methodology that would strengthen our academic programs. Also, as distinguished professors publish their research and make presentations to academic and professional organizations, national recognition and prestige would accrue to the naming donor and the School.
Depending upon the discipline, a $2 - $3 million endowment is needed to support a full-time faculty position, generating $90,000 - $135,000 annually. In addition to salary, an endowed professorship would provide support for graduate assistants, conference participation, and release time for research.
Need: Student Scholarships
The cost of higher education continues to rise each year and financial aid available to students increase at a much slower pace. Student scholarships created through private funding are an important tool in recruiting the best students. The qualifying criteria and selection process is set by the donor. Endowed scholarships range from a corpus of $10,000 to $150,000 and up and typically generate awards from $425 - $6,750.