According to the Bureau of Labor Statistics, college textbook prices have risen by 7% between 2020 and 2023. This increase is faster than tuition inflation, and it presents a significant challenge for college students trying to manage their budgets. As a result, the cost of textbooks has become a growing concern for students across the nation.
To put this issue into perspective, let's take a look at some data from the 2021-2022 academic year. During this time, a survey showed that the average cost of books and supplies for a first-year college student reached as high as $1,226. This staggering figure illustrates the financial burden placed on students who already face substantial expenses related to tuition, housing, and other living costs.
In light of these challenges, the Sara Marie McFadden Foundation has been providing relief to students since 2018. Through our Book Scholarships and supplies program, we have managed to offer over $10,000 in support. This initiative has been instrumental in reducing the financial strain on students and ensuring they have access to the materials they need to excel academically.
With college textbook prices consistently on the rise, the foundation recognizes the urgency of addressing this issue. Higher education should be accessible to all, irrespective of financial background. Our commitment is to continue making a difference in students' lives by easing the burden of textbook costs. We firmly believe that by providing Book Scholarships and supplies, we can contribute to students' academic success without compromising their financial well-being.
-Frederick E. Hampton Jr. (President of Sara Marie Foundation Inc.)
Sara Marie McFadden Foundation is named in loving memory of the legacy of the late Ms. Sara Marie McFadden; mother, friend and educator. Sara Marie had a passion for children and valued education. She earned her Bachelor's from Benedict College in Columbia, South Carolina and obtained her Master's in Special Education from Adelphi University in Long Island, New York. Ms. Sara Marie McFadden was a member of the Alpha Kappa Alpha Sorority, Inc. and a founding member of the One Way Church of Christ where she also served as the Superintendent of Sunday School department for many years.
Frederick E. Hampton Jr. is the Founder and President of Sara Marie McFadden Foundation, Inc. Frederick has a Bachelor of Arts (BA) in Politics, Economics and Law from State University of New York College at Old Westbury. Under the leadership of Bishop Gregory Tucker, Frederick serves as Youth Pastor for the One Way Church of Christ. He is the founder of the One Way Church of Christ Legacy Recording Choir. Mr. Hampton is a Customer Business Manager for Conagra Foods and has worked in the food and beverage industry for companies such as The Coca-Cola Company and The Kraft-Heinz Company.
Dr. Anjulet Tucker is an experienced and energetic leader with a long track record of generating creative ideas, initiating change, and driving dynamic process and program creation in higher education institutions and nonprofit organizations.
Currently, Dr. Tucker serves as Director of Programs and Engagement in the Office of the President at Emory University in Atlanta, Georgia where she earned her Bachelor of Arts in International Studies in 2000. She earned a Master of Theological Studies from Harvard Divinity School and a PhD in Ethics in Society from the Graduate Division of Religion at Emory University in 2009.
The Sara Marie McFadden Foundation supports a variety of educational and community service initiatives. Each year, the foundation will award two book scholarships up to $1,000 to support individuals in pursuit of a four-year degree whom have demonstrated a commitment to improving the lives of others and who possess a positive and uplifting spirit.