SPRINGFIELD – The Illinois Higher Education Commission, in partnership with the Illinois Capital Development Commission, has awarded $400 million in grants to 45 Illinois higher education institutions through the Independent University Capital Investment Grant Program.
Morrison Institute of Technology in Morrison will receive $350,408.
The goal of this program is to provide Illinois' private, nonprofit universities with financial assistance for the construction, repair, and renovation of on-campus infrastructure to provide an equitable learning experience for students across the state.
As part of the application process and in line with IBHE's goal of closing the capital gap, institutions must address disparities in enrollment, retention, completion, and student loan repayment for historically underrepresented students, including students from low-income families. submitted a capital plan outlining a comprehensive strategy to fill the gap. families, students of color, working adults, and rural students.
“Adequate campus facilities and infrastructure are critical to ensuring an equitable learning experience for students,” said IBHE Executive Director Ginger Ostro. “Private institutions are a valuable part of Illinois' higher education ecosystem, and these funds will help each institution complement its efforts to close the capital gaps outlined in each institution's capital plan. ”
Funds were distributed to agencies using a two-part formula outlined in the statute. Under this formula, each eligible institution will receive a base grant based on fall 2017 student enrollment reported to IBHE and an FTE grant based on fall 2022 student enrollment reported to IBHE. I did.
