In an effort to boost the educational attainment level, Logansport city council members and Mayor Mike Fincher gave $100,000 to Ivy Tech Community College Monday.
The money will be used for an endowment to fund two scholarships at the community college. The scholarships, which will be awarded to Logansport residents annually, include a degree completion scholarship and a GED scholarship.
“This is a culmination of five years of work,” Fincher said. “It was a dream five years ago to bring an Ivy Tech campus to Logansport and that went from a dream to reality.
“Our city council has decided it is important enough for our community to give a check for $100,000.”
Ivy Tech Kokomo Region Chancellor Steve Daily said the scholarship fund is a step in the right direction in terms of economic development.
Daily said he has been involved in aspects of economic development since the 1970’s, and the city council’s decision to invest in education will generate jobs.
“I think Logansport has got it right,” Daily said. “There is nothing more important than investing heavily in education.”
The city of Logansport Degree Completion Scholarship is intended to provide tuition assistance to Logansport residents who only need to complete a minimal number of classes to earn their technical certificate or associate degree.
The GED scholarship is intended to provide tuition assistance to GED graduates who live in Logansport and choose to attend the Ivy Tech Logansport campus.
Officials at Ivy Tech say the scholarships will be based on merit, not necessarily financial need.
David Gray, assistant director of media relations, explained only 5 percent of the endowment’s asset value will be spent on an annual basis, ensuring that the endowment will operate into perpetuity and will not depend on ongoing contributions from the city.
The money for the endowment was allocated from the city’s Eastgate fund, into which Ivy Tech has paid rent money.
“I think the city council made a great choice in setting up the scholarship,” Fincher said. “It will help the future workforce educate and reeducate themselves. It was an investment into our community. How can we expect others to invest in our community if we don’t ourselves?”
Daily expressed his gratitude to Fincher and the city council during the regular council meeting Monday.
“This stuff does not get you reelected,” he said. “But it will pay dividends into this community for years to come.”
• Jennifer Tangeman is a reporter for the Pharos-Tribune. She can be reached at 574-732-5148 or jennifer.tangeman@pharostribune.com.
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