Ray Stephens has been a lifelong member of the Austin College family. His father graduated from Austin College in 1920 and entered the banking industry in Sherman. It seemed natural that Ray attend Austin College and he graduated in 1950, then left Sherman for a time to pursue his medical education at University of Texas Medical Branch – Galveston. While completing his residency and internship at the University of Iowa hospital, he met and soon married Betty, a nurse at the hospital. His residency was interrupted by a two-year stint in the Air Force where Ray delivered babies at the base hospital in Newfoundland (fortunately living next door to a general so snow on their street was always quickly cleared!).
When Ray’s residency was complete, Betty left her native Iowa to join Ray in a return to Sherman where he joined an obstetric/gynecological practice. Ray and Betty became involved in First Presbyterian Church and began lifelong friendships with other Austin College families like Slats and Kate McCord, Clyde and Ginny Hall, and Howard and Marian McCarley. As the family grew and activities expanded, the Stephens became more and more involved throughout the Sherman community and with the College.
Like many within their circle of friends, three Stephens’ children – Susan, John, and Martha – graduated from Austin College. Ray and Betty’s other son, David, graduated from Texas A&M.
The Stephens family has made many gifts to Austin College, several focused on scholarships. The Stephens children particularly benefited from opportunities to study abroad in college, and shared that with their parents. So several years ago, the family established the Stephens Family International Studies Scholarship Program to provide other students the life-changing experiences they had enjoyed.
Recently, the family made arrangements for more involvement as they found that a planned gift to Austin College fit within their investment plans. Their financial adviser helped them to bequeath an IRA to the College so that upon Ray’s death half of the value goes to Austin College and half goes to the Stephens children. The plan allows the family to benefit from estate tax savings and also to have a lasting role in ensuring Austin College’s future.
Ray and Betty have witnessed the benefits of international study experiences and cultural exchange. Their generosity will enable many students in the future to take full advantage of the excellent opportunities. They are assured they will continue their involvement with Austin College even beyond their own lives.
“Education is an important need in our country,” Ray said. “Betty and I are impressed with the quality of the educational experiences offered at Austin College.” Betty agreed. “Our daughter, Susan, attended graduate school at University of Texas. She said her undergraduate education was just as good as that of her classmates who studied at East Coast colleges.”
For more information about designating Austin College as a beneficiary of your IRA or retirement plan, please contact us at plannedgiving@austincollege.edu or 903.813.2336.
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