Budget outlines important investment in students and public institutions
CHICAGO, IL – Last month, the HBCU Campaign Fund (HCF) commended Illinois lawmakers on the passage of the 2023 fiscal budget, which focuses on relief, education, and public safety. The budget also included an increase in funding for K-12 public schools, MAP and supports higher education institutions.
“This is an exciting time for the state of Illinois and the future of education for many Illinoisans. HCF commends the work of House Speaker Emanuel Chris Welch, House Democrats, and Illinois Governor JB Pritzker for their continuous support of making the welfare of Illinois residents a priority. The passage of the 2023 fiscal budget makes a massive impact on K-12 public schools and influences higher education within the state,” said Demetrius Johnson Jr., HCF’s Founder, President & CEO. “The budget includes more funding for K-12 public schools and allocates towards MAP, which will allow additional students with financial needs funds for tuition and fees to pursue an undergraduate degree. And as always, I truly appreciate their support of Illinois’ only four-year, Predominantly Black Institution, Chicago State University. The 2023 budget will give Illinois higher education institutions a 5% increase in funding, including CSU. Additionally, it adds $1.8 million to CSU’s appropriation for the current fiscal year of 2022. Governor Pritzker and House Speaker Welch’s support outs an exceptional value on higher education within the state and the economy. Thank you for your investment into a brighter future.”
The budget provides a significant investment in Illinois’ higher education institutions and students. Illinois four-year universities, which includes Chicago State University (CSU), Illinois’ only designated Predominantly Black Institution, would receive a 5% increase in funding for fiscal year 2023 relative to this year’s current budget. The passed budget also adds an additional $1.8 million to CSU’s appropriation for the current fiscal year of 2022.
Additionally, adding more funding to K-12 publics schools, the budget also strengthen financial aid for students throughout the state. The increase funding of $122 million for the Illinois Monetary Award Program (MAP) grant is allow more low-income students to receive funds to assist with college tuition and fees.
“Governor Pritzker’s budget recognizes the unparalleled value of higher education to the Illinois’ economy,” said Zaldwaynaka “Z” Scott, Esq., President of Chicago State University. “Our data shows that each year CSU adds $1.6 billion to the Illinois economy and a strong return-on-investment for our students. As the University remains laser focused on equitable education and workforce development, this investment will allow CSU to further strengthen its economic impact as well as our student success.“
Last year, CSU released its inaugural Economic Impact Study, conducted by economists, demonstrating that the institution is a driving force in the Illinois economy by adding $1.6 billion in income to the Illinois economy, support 17,525 jobs, and providing a strong return on investment for students and Illinois taxpayers.