The largest gift to low-income students in Wisconsin history will provide $175 million for grants to graduates of public schools to attend the state 's public colleges and universities and will boost the state 's Wisconsin Covenant program, officials revealed Monday night.
The donation from John Morgridge, former chairman of Cisco Systems, and his wife, Tashia, a retired elementary special education teacher, will give about 2,000 grants of $1,000 to $5,000 for the 2008-09 school year, and more than 3,000 grants annually after that.
Eligibility likely will be concentrated among students whose families earn less than about $50,000 a year, according to UW-Madison Chancellor John Wiley, who called the Morgridges ' gift "positively magnificent. "
"My reaction was, This is going to be a wonderful Christmas, '
" Gov. Jim Doyle said of his feelings when John Morgridge notified him of the donation last week.
The grants, which do not need to be repaid, will be awarded through the UW System and the Wisconsin Technical College System. Students will be eligible to receive aid for up to 10 semesters.
"Wisconsin 's public high schools do an outstanding job of preparing students for higher education. We are committed to helping ensure that higher education is accessible and affordable, " Tashia Morgridge said in a news release announcing the endowment.
The Morgridges, who long have donated to educational causes, are establishing the Fund for Wisconsin Scholars with the $175 million contribution. The gift will create a permanent endowment to provide grants to low-income, recent graduates of public schools.
...More than 17,000 Wisconsin students signed up before the program 's first deadline in September. In November, the Great Lakes Higher Education Guaranty Corp. donated $40 million to help the program.
Even with the Morgridges ' gift, Doyle and others said it 'll remain essential for the state to remain focused on increasing the resources for low-income students. The covenant program has a goal of generating $200 million through private fundraising. The state has increased financial aid by $40 million over a two-year period.
...Doyle, Wiley and Chancellor David Wilson, who oversees the 13 freshman and sophomore UW Colleges and UW Extension, said they know of no other state that has received such a large gift to benefit low-income students.
Wilson said when he learned of it Monday night, he "literally jumped on top of a table " because it opens doors to thousands of students whose families have doubted their ability to afford college. He urged every one of those students, including young working adults considering a return to school, to call a college and find out what 's possible.
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