Illinois higher education budget includes funding increases, scholarships and campus improvements

FOX23 News at 9 p.m

SPRINGFIELD, Ill., (KBSI) — Illinois higher education institutions will receive additional funding under the fiscal year 2027 state budget signed by Gov. J.B. Pritzker.

Illinois Board of Higher Education Executive Director Ginger Ostro praised the budget, saying it continues the state’s commitment to investing in higher education despite fiscal challenges.

The budget includes a $16 million increase in operating funds for public colleges and universities, including $13 million for public universities and $3 million for community colleges. It also releases $29.5 million in reserve funding that was set aside during fiscal year 2026 because of uncertainty surrounding federal funding.

The spending plan maintains funding for several student aid programs, including $721.6 million for Monetary Award Program grants and $50 million for AIM HIGH scholarships.

Additional investments include:

• $400 million for deferred maintenance projects at public universities and community colleges;
• $10.75 million for Golden Apple Scholars;
• $5 million for Golden Apple Accelerators;
• $7 million for the Prepare for Illinois’ Future test preparation program;
• $5 million for Early Childhood Access Consortium for Equity scholarships;
• $3 million to support Common App admissions initiatives; and
• $2 million for the Diversifying Higher Education Faculty in Illinois program.

The budget also includes a $500,000 increase for student success initiatives.

State officials said the investments are intended to improve college affordability, support workforce development and maintain campus facilities across Illinois.