Establish a Scholarship

When you support a scholarship, you are investing in our community’s future, as more than 80% of our students remain in central Illinois to live, work, and raise a family.

ICC Educational Foundation scholarships allow students to achieve their goals of higher education, a successful career, and an impact on our community. Scholarships are based on financial need, academic excellence, specific areas of student interests, and ethnic or family background. Scholarships can help pay for tuition, books, and related expenses. 

You Can Make a Difference

Through the generosity of individuals, businesses, and organizations, the ICC Educational Foundation offers over 700 scholarships totaling over $1.3M of support each year.

Annual vs Endowed Scholarships

Annual Scholarships

Annual scholarships are funded on a year-by-year basis by the donor(s). Annual scholarships are renewed each fall for the following academic year. Scholarship sponsors are contacted with pledge reminders for renewals.

Endowed Scholarships

Endowed scholarships support themselves in perpetuity. The initial gift is invested, and scholarship awards are determined each year by the Educational Foundation’s Endowment Spending Policy. With an emerging endowment, a donor may take up to five years to build the endowment fund. Some donors choose to add additional funds while building the endowment in order to award the scholarship earlier.

Spending Policy

The ICC Educational Foundation Endowment Spending Policy is based on a three-year rolling average. The Foundation calculates the three-year average of the total fund balance and annually spends 5% of that average.

Educational Foundation

Edwards Library / Administration Building » L411
East Peoria Campus
Mon – Thur: 8 am – 4:30 pm
Fri: 8 am – 2 pm