Chicago's Premier College Scholarship Organizations Merge; Scholarship Chicago and College Bound Join Forces to Support more Scholars.

CHICAGO -- Scholarship Chicago and College Bound today announced the merger of their two scholarship organizations, effectively creating the city's premier college scholarship program for underserved youth. By joining forces, the new organization has positioned itself to offer expanded programs to more students providing them with greater support to help realize their dreams through education. In the eight years since both organizations were founded, more than 1,000 college-bound students have received scholarships in excess of $1 million.

Founded in 1996 by Tim Schwertfeger and Gail Waller, the Chicago Scholars Foundation, later renamed Scholarship Chicago, was established to celebrate the educational success of students in the face of obstacles. Each year the foundation has awarded a $1,000 scholarship to a graduating senior from every public, private and parochial high school in the city. "I grew up in Chicago and I love this city," says Schwertfeger, a graduate of Brother Rice High School on the South Side. "As we make important strides to improve our high schools in Chicago, we also need to look forward and support our young people who are now better prepared to seek post secondary opportunities. By doing so, we are encouraging future leaders who can help make Chicago a better place in which to live, learn, work and raise a family."

College Bound first opened its doors in 1996 to youth in financial need, to attend the college of their choice. Co-chairs Gary Caplan and Rick Levitz, joined by three other childhood friends, founded the organization to give back to the community. "We felt privileged to have the financial resources and personal networks to succeed in college. Our goal was to fill the gap that many less privileged young people face, many of whom are the first in their families to attend college. Now, by merging with Scholarship Chicago, we believe we can reach out to more deserving college-bound students," remarked Levitz.

Scholarship recipients are selected on the basis of financial need, academic achievement, a personal essay and recommendations from their high school counselors. Many of the recipients include students from low-income households, underrepresented minorities, and students with disabilities as well as students representing the first generation in their family to attend college. In addition, Scholarship Chicago has received the support of its advisory board which includes distinguished members Mayor Richard M. Daley, His Eminence Francis Cardinal George, Arne Duncan, CEO of the Chicago Public Schools and Don Randel, president of the University of Chicago.

"This merger is a logical progression, given the synergy between the shared missions of our two foundations," remarked Scholarship Chicago President, Karen G. Foley. "By merging the organizations we have created a more powerful and effective foundation with stronger programs that will better serve a greater number of deserving students."

The merged organization will continue under the banner Scholarship Chicago, which captures both the mission of the foundation and the community it serves.

Scholarship Chicago is a public, non-profit, educational organization whose mission is to help underserved students achieve their dreams through continuing education by providing college preparatory programs and financial scholarships, as well as tutoring, mentoring, summer internships and career networking opportunities.