Tens of thousands of Illinois’ neediest college students will be financially devastated if state legislators approve a proposal to cut $50 million to $200 million in Monetary Award Program funding for fiscal year 2003. MAP grants of nearly $5,000 a year are available to low-income Illinois residents enrolled as undergraduates at private or public colleges and universities in Illinois. In order to remain eligible for these grants, students must maintain satisfactory academic progress. That ensures the funds are being used to assist students who are working hard to gain an education.
MAP grants supplement federal financial aid and, without them, many of the state’s 140,000 post-secondary students who currently receive them could not continue their education. In Chicago alone, reducing or eliminating MAP funding will leave 47,000 students without the financial means to attend college.
It’s important to note that the average family income of a MAP-eligible student is $21,500. Many of these students represent the first generation of their families to attend college. They could not dream of earning a college degree without state help. Minority students especially would be hurt by cuts to financial aid. More than 40 percent of all Illinois MAP grant recipients are minorities.
MAP not only allows low-income residents of Illinois to receive an education, but it also helps to end the cycle of financial need for future Illinois residents. According to state and federal estimates, those who complete their education will earn $600,000 more than those without a college degree during the course of a 40-year career. That makes it less likely that a college graduate today will have children of his or her own who need MAP funding to attend college tomorrow.
We know that state legislators recognize the importance of access to higher education for low-income students, and that they are doing their best to maintain this access while at the same time balance the state budget. We laud their efforts to do so.
For the 140,000 students in Illinois who need MAP to finish college, and with the potential economic impact on the city and state in mind, we strenuously urge our local and state leaders to support the continued funding of Illinois MAP. It would be a tragic mistake to balance the budget by mortgaging the future of some of our best and brightest young adults.
