Grand Victoria Foundation supports Illinois Promise with $200,000 grant.
Grand Victoria Foundation has awarded a two-year, $200,000 grant to the University of Illinois to support Illinois Promise scholarships. Launched in 2005 by Chancellor Richard Herman, the Illinois Promise program is designed to help make a University of Illinois education affordable for economically disadvantaged students in the state who qualify for admission. Specifically, Illinois Promise awards cover the difference between a student’s financial aid package and the actual cost of an Illinois education, including tuition, fees, room and board, and books and supplies. The goal of the program is to enable students with severe financial need to attend the UI without incurring significant debt. Similar programs, like the Carolina Covenant at the University of North Carolina Chapel Hill, have demonstrated that students who do not need to worry about paying back substantial student loans or working full time to make ends meet are more successful in their studies.
All funding for the Illinois Promise program comes from private gifts and grants. The grant from Grand Victoria Foundation will provide Illinois Promise scholarships to 33 Illinois students in 2007-2008 and 2008-2009. Grand Victoria Foundation provides strategic funding to Illinois organizations working for lasting economic, educational and environmental change. Since it was established in 1996 by the Grand Victoria Casino in Elgin, Illinois, the Foundation has provided more than $90 million in grants to help communities across the state become vibrant places to live and work. Through grantmaking and leadership initiatives, Grand Victoria Foundation supports five elements of great communities: good jobs, a healthy environment, great places for kids, capable organizations and homegrown philanthropy. The Foundation has offices in Chicago and Elgin. For more information, please visit www.grandvictoriafdn.org or call 312.609.0200.
