FOR IMMEDIATE RELEASE
Contact: Sheri McGill Executive Director 309.681.0091 sheri.mcgill@peoriapromise.org
Peoria Promise Announces Immediate Changes to Scholarship PEORIA, IL (February 4, 2015) - Peoria Promise has announced changes to its program effective immediately, beginning with the 2015-2016 academic year. The changes affecting deadlines, funding levels and fund distribution are in response to ongoing growth and will increase operational efficiency, students’ personal investment and accountability, and improve program outcome measurement. Primary changes include:
All applications to receive funding to attend ICC are due by March 1. The award will be applied to the fall and spring semesters only. Qualifying students are eligible to receive a tuition reimbursement following the successful completion of coursework resulting in a C grade or better. Only out-of-pocket tuition is eligible for reimbursement, ensuring all other financial aid and scholarship opportunities have been effectively utilized. Four reimbursement funding levels - ranging from 25% to 100% - will be determined using a weighted matrix scale, referred to as the Benefit Percentage. The Benefit Percentage provides an incentive for eligible students to maximize their award by working to optimize school attendance and class completion, academic performance and community involvement. This scale was established by following best practices in the field and is based upon liberal standards.
“These changes allow nearly every qualified student with the opportunity to receive an award of some level and for all students to have the opportunity to work toward maximizing that percentage each semester,” said Dr. Bill Collier, President of the Board. Peoria Promise is a 100% donor-funded scholarship that provides out-of-pocket tuition reimbursement opportunities for qualifying city of Peoria students who successfully complete coursework at Illinois Central College. In order to continue to receive the Peoria Promise scholarship, all students must meet the Satisfactory Academic Progress standards (SAP) in accordance with the U.S. Department of Education. Eligibility is limited to a maximum of 64 credit hours during the five years immediately following high school graduation, or whichever comes first. “We are continually working to adjust the program to meet the goals of our corporate and private donors. Together we will increase and improve the pool of qualified workers to Peoria businesses and empower a new generation of workforce and Peoria businesses to prosper in the City of Peoria,” said Sheri McGill, Peoria Promise Director. ###
About Peoria Promise In the past six years, Peoria Promise has made a difference in the lives of more than 1,700 Peoria students attending ICC in their pursuit of an occupational certificate, an associate degree or a baccalaureate transfer program. To date, Peoria students have received more than $2.5 million dollars in scholarships. Qualification and application forms and detailed Peoria Promise information can be found at www.peoriapromise.org.