The news is improving for college graduates, and gets even better for those with degrees in science, technology, engineering, mathematics and health care.
The unemployment rate for college grads between the ages of 22 and 27 dropped to 4.9 percent in September 2015, down from 5.3 percent the year prior, according to the Federal Reserve Bank of New York. And those with STEM degrees are making the highest starting salaries for those just out of college, according to a recent report from the National Association of Colleges and Employers, Time magazine reported in January.
Those with engineering degrees averaged a starting salary of nearly $65,000, followed by $61,000 for computer science graduates and $55,000 for those in math and science fields. That’s compared to starting salaries of $48,700 in health care and less than $35,000 in education (but salaries for teachers — those who are preparing students for college — is a subject for another day).
With demand remaining high in Washington state among industries seeking to hire STEM graduates, including those throughout Snohomish County, the importance of programs that encourage and assist students in earning those degrees is key.
The Washington State Opportunity Scholarship program, in operation since 2011, continues to build on its early success, expanding the financial assistance and support services it offers.
The program, open to Washington residents with a high school diploma or GED and whose families are at or below 125 percent of the state median income, offers multi-year scholarships up to a total of $22,500, starting with $2,500 grants that can be increased to $5,000 after a student’s second year and up to $7,500 for high-demand majors. The scholarships are open to students studying among 367 majors in STEM and health care fields.
More than 1,400 students received scholarships last year, and all 1,200 high school students who applied and were eligible, earned scholarships, said program Executive Director Naria Santa Lucia.
The program has shown success in attracting women and minorities into STEM fields; 61 percent of those receiving scholarships last year are women and 58 percent are minorities. And 3 of 4 of those in the first three years of the program who have earned their bachelor’s degrees found work in their chosen filed within nine months. And of those employed in their fields, 86 percent are working in the state.
In addition to the scholarship program, Opportunity also works to connect students with mentors and internships, assists with outreach into public schools to encourage students to consider STEM fields. And Opportunity is also now administering a program that will appropriate state funds among colleges and university to open more seats to students, Santa Lucia said.
Opportunity depends on donations from the public and private sectors. It has raised $60 million among private and corporate donors, many of whom are hiring the graduates that it helps create. Boeing, Microsoft and Steve and Connie Ballmer are among the major donors, but more than 40 companies have supported Opportunity with donations. The state also has provided $30 million in support of Opportunity programs and has included funding in each two-year budget cycle.
Washington state’s economy is dependent on a work force that is educated in STEM and health care fields, and as much as possible, those jobs should be going to those who raised and educated here.
“We’re committed to getting those students across the finish line,” Santa Lucia said.
Opportunity Scholarships
For more information about the Washington State Opportunity Scholarship, go to www.waopportunityscholarship.org. The deadline for applications for the 2016-17 school year is Feb. 29.
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