Damon explains the STRS scholarship

Damon Asbury to Kathie Bracy, April 23, 2007
Subject: RE: STRS scholarship?

Kathie:

Here is the information your requested concerning the STRS Ohio Scholarship offered to education students at Ohio’s public colleges and universities:

The STRS Ohio Teacher Education Scholarship Endowment

The STRS Ohio Teacher Education Scholarship Endowment was established December 1, 1995 by the Board of Trustees of The Ohio State University with a gift from STRS 75th, Inc., to celebrate the 75th Anniversary of the State Teachers Retirement System of Ohio (STRS). STRS 75th, Inc. was established in order to receive donations from members and friends of STRS Ohio in celebration of the 75th Anniversary of STRS Ohio. Contributors were advised that any excess monies would be donated to Ohio colleges in the form of scholarships for students preparing for a teaching career.

STRS 80th, Inc. was established in order to receive donations from members and friends of STRS Ohio in celebration of the 80th Anniversary of STRS Ohio. Contributors were advised once again that excess monies would be given to the STRS Ohio Teacher Education Scholarship Endowment fund that was established in 1995.

The contributions to both the 75th and the 80th funds generated a combined gift of $252,800 to be invested in the permanent endowment fund of The Ohio State University for the purpose of providing scholarships for students (undergraduate or graduates) preparing for teacher certification at any of the state universities in Ohio with a college, school or department of education.

Annual scholarship distribution is overseen by Education Deans of the public state universities, based on interest earned from the endowment. The amount increases annually to keep up with inflation when earning permit. The money is distributed annually to the state universities on a rotating basis. It is distributed in alphabetical order. When the rotation is complete it begins again.

Each institution is awarded the STRS Ohio scholarships according to policies and procedures of each separate institution. The minimum scholarship awarded to each student is $1,000, but each institution is encouraged to maximize the number of scholarships awarded. Each institution may publicize the awarding of the scholarship and provide appropriate stewardship to STRS Ohio.

Let me know if you need additional information.

Damon