CHICAGO (WBBM NEWSRADIO) – Gov. J.B. Pritzker visited Illinois State University in Normal on Tuesday to discuss his FY 2023 budget proposal, which aims to support higher education and “empower Illinois’ next generation.”
“The stronger our colleges and universities are, the greater are our prospects for economic growth and for jobs for a more innovative and inclusive future for our state,” said Pritzker.
That’s why his budget proposal hopes to increase the number of low-income students who receive college scholarships.
“It's no secret that for years before I became governor, our public universities became less and less affordable for families across Illinois and that had to change,” said Pritzker.
The proposal offers a $122 million increase in the state’s Monetary Assistance Program (MAP), nearly $55 million for public universities and nearly $3 million to increase scholarships for minority teaching candidates.
The budget also includes $230 million to help rescue the state’s prepaid college tuition program, College Illinois!, which encourages families to prepay their young childrens’ education.
The program was introduced two decades ago and Pritzker said prior to his administration, it was headed for insolvency.
“This year, my budget will pay off in full the remaining unfunded liabilities of this program. We're making good on a promise that was made to thousands of Illinois families, and we're saving an additional $75 million in future taxpayer dollars,” the governor said.
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