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A campaign opened by Oklahoma State's athletic director Mike Holder and his wife to bestow all of the universities' athletic scholarships by donating $500,000. The action that will allow Oklahoma State to provide a football scholarship each year is in honor of Vernon Grant a Cowboys starter at safety who was killed in a May 2005 in a car accident in Dallas.
Vernon's death was a terrible tragedy and it meant a loss for almost anyone related with Oklahoma State University and its football family, that is why it is so human what Holder is doing. His move to create the first endowed football scholarship ever at Oklahoma State also is the beginning of an initiative to donate all of Oklahoma State's 229 athletic scholarships by 2016. Oklahoma State has $2 million in gifted scholarships, the lowest total in the Big 12, said Craig Clemons, the school's associate vice president for athletic development.
When you think about it the idea was the next smart thing to do since Boone Pickens made the biggest donation to an athletic department in NCAA history, he gave away $165 million in January to fund the athletic village that include new facilities for various sports and for the renovation of the new football stadium. So now that the physical part is taken care of they can start focusing on student-athletes and their scholarship needs.
But like everything no one would lose you see an plan was very well thought into the initiative, lets say if the endowments earn more than 4% annually, excess earnings will be reinvested with Pickens' Dallas investment company, to help cover increasing scholarship costs over the years. Oklahoma State would save $6 million annually, or about one-sixth of the school's $36 million athletic department budget, if all of its athletic scholarships were gifted.
Ally White is a top senior copy writer on sportsbook action for http://www.instantactionsports.com Feel free to reprint this article in its entirety on your site, make sure to leave all links in place and do not modify any of the content.
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