For college students graduating today, debt can be a heavy burden. Seventy percent of recent graduates have student loans to pay off, with an average student debt of more than $31,000 in Minnesota.

Richard M. Schulze, founder and chairman emeritus of Best Buy, worries that these grim numbers may deter some students who want to pursue teaching careers. To help them succeed—and to ultimately improve the quality of education in general—the Richard M. Schulze Family Foundation (RMSFF) recently gave $1.25 million over four years to the College of Education and Human Development for scholarship support.

“The family knows the importance of high quality teachers,” said Mark Dienhart, president and chief executive officer of the RMSFF board of trustees. “Their hope is that this will allow some high-achieving students with a passion for teaching to make that choice without worrying as much about debt.”

The first scholarships supported by the gift will be awarded during this academic year.

“This is a remarkably generous gift that will benefit dozens of new, well-prepared teachers,” said Dean Quam.

In the photo, Dean Quam (right) and external relations director Lynn Slifer accept a check from Mark Dienhart.