Budget Outlines Important Investment in Students and Public Institutions
CHICAGO, IL – The HBCU Campaign Fund (HCF) applaud Illinois Governor JB Pritzker’s fiscal year 2023 budget proposal that outlines 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 proposal would also add an additional $1.8 million to CSU’s appropriation for the current fiscal year 2022. If approved by the General Assembly, the budget would provide critically needed resources for the University and CSU students.
Governor Pritzker’s budget also strengthens financial aid for students by, among other things, increasing funding for the Illinois Monetary Award Program (MAP) grants for low-income students by $122 million.
Governor Pritzker’s pushed the proposal for the fiscal 2022-23 budget investment early last year to provide stability for higher education institutions in Illinois, including CSU.
“Governor Pritzker’s budget recognizes the unparalleled value of higher education to the Illinois’ economy,” said Zaldwaynaka 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.”
“I would like to express sincere gratitude to Governor Pritzker for his continuous attentiveness of how much a crucial impact and value that higher education has on the state of Illinois and its economy,” said Demetrius Johnson, Jr., Founder, President & CEO of HBCU Campaign Fund. “Chicago State University is a necessary jewel to the Black community of Chicago, and we must not neglect how much economic support and return of investment CSU nourished for its students and the state of Illinois. CSU continues to focus on providing equitable education and workforce development that allows CSU to supply to underserving and low-income students. I dearly commend President Zaldwaynaka Scott on her outstanding leadership, and we thank the Governor for his continued investment in a brighter future for the students in Illinois.”
Last year, CSU released its inaugural Economic Impact Study, conducted by economists, that demonstrated the institution is driving force in the Illinois economy by adding $1.6 billion in income to the Illinois economy, supporting 17,525 jobs, and providing a strong return on investment for students and Illinois taxpayers.
HCF President Johnson stated that the organization is elated to continue to play the role as a strong advocate and supporter of Chicago State University.
Click here to view Governor Pritzker’s Budget Fiscal Year 2023.