Loughran Cappel: New college funding opportunities are an investment in Illinois’ future

For many high school students, the fall season includes conversations about their future, test prep, meetings with guidance counselors and college fairs. Students are encouraged to think about what they want to do and lean into their dreams and aspirations. For many of our students, those aspirations include hopes of attending a four-year college or university.

There are plenty of factors that go into deciding what college or university a student wants to apply to and attend, but as recent studies have shown, the most important factor is cost. That’s why it’s vital that our state school tuition be competitive and reasonable for our students.

With the passage of the 2024 Fiscal Budget, which I proudly supported, new additional funds for MAP, Pell and the Aspirational Institutional Match Helping Illinois Grow Higher Education (AIM HIGH) grants, will provide financial aid to more students, reducing the burden of tuition costs for them and in turn, incentivizing our talented students to stay here in Illinois.

These increased funds reflect Illinois’ commitment to providing opportunities to all our youth, regardless of their financial circumstances. The AIM HIGH grant program provides financial aid to full-time undergraduate students attending one of Illinois’ 12 public, four-year institutions. This program has been awarding grants to students since 2019 and has proven to be a lifeline for countless students.

As a legislator, mother and former educator, I’m invested in creating a pipeline of leaders right here in Illinois. Our state has talented students, we have growing industries and so it is imperative that we support our students so that they can be a part of our growing economy and contribute to our state’s future.

It is through the AIM HIGH grants that more students from middle income households will be eligible to access additional financial aid instead of having to accumulate massive amounts of debt and all the while staying close to home. In fact, in some cases this opportunity is available to students whose families make up to six times the federal poverty rate.

Year-after-year, almost half of all of Illinois’ high school students who choose to pursue a four-year degree go out of state for their college education. Most of them aren’t going too far – an overwhelming majority are staying right here in the Midwest. That’s certainly a shame, considering that those are the same kids our state has been shaping into the leaders of tomorrow.

Illinois is a leader in the Midwest and we want our students to reach their potential here.

AIM HIGH grants help our state schools’ recruiting efforts by reducing overall cost of tuition. Not only does the new budget provide additional funding for these grants, but it encourages participating universities to provide matching funding for institutional awards to eligible students. This collaborative approach ensures that AIM HIGH grants are complemented by additional financial support from the universities themselves. By leveraging this unique partnership, students have access to a wider array of resources and opportunities to pursue their educational and career goals.

The impact of these grants will extend beyond the student’s life. By investing in our higher education programs and supporting our students in their pursuits, Illinois is investing in its future. The knowledge and skills acquired by AIM HIGH scholars will contribute to the state’s workforce, innovation and overall prosperity. These students will become leaders, entrepreneurs and professionals who drive economic growth and social progress.

AIM HIGH grants are a triumph for Illinois and they reflect our state’s commitment to accessible and quality higher education. It is yet another example of how Illinois is truly committed to not only setting up our children for success but inspiring them to become leaders in our communities.

• State Sen. Meghan Loughran Cappel, a Shorewood Democrat, represetns Illinois’ 49th Senate District, which includes parts of Kendall and Will counties, including Joliet, Plainfield, Bolingbrook, Romeoville, Shorewood, Crest Hill, Naperville, Crystal Lawns and Sunnyland.