Illinois private institutions receive $400 Million in capital grants from the IBHE

SPRINGFIELD – The Illinois Board of Higher Education (IBHE) has awarded $400 million in grants through the Independent Colleges Capital Investment Grant Program to 45 institutions of higher education in Illinois in partnership with the Illinois Capital Development Board. The goal of the program is to provide financial assistance to private, not-for-profit colleges and universities in Illinois for the construction, repair and renovation of infrastructure on campuses to provide equitable learning experiences to students across the state.

As part of the application process and aligned with the IBHE’s goal to close equity gaps, institutions submitted equity plans to describe their holistic strategies for closing gaps in enrollment, persistence, completion, and student loan repayment for historically underrepresented students – including students from low-income households, students of color, working adults and students from rural areas.

“Adequate campus facilities and infrastructure are important in ensuring our students have equitable learning experiences,” said IBHE Executive Director Ginger Ostro. “Private institutions are a valuable part of Illinois’ higher education ecosystem, and these funds will help institutions complement the work to close equity gaps outlined in each institution’s equity plan.”

The funds were distributed to institutions using a two-part formula as outlined in the statute. The formula provided each qualifying institution 1) a base grant based on the Fall 2017 student enrollment numbers as reported to IBHE and 2) an FTE grant based on the Fall 2022 student enrollment numbers as reported to IBHE.

Below is a list of institutions awarded and award amounts.