The McGraw Foundation, based in Dundee, Illinois, awarded $100,000 to ACI for distribution this coming academic year to member colleges and universities to assist students with financial emergencies. McGraw Foundation Student Emergency Assistance Fund grants can be awarded by financial aid officers throughout the year, whenever students present unanticipated financial hardships, including emergency medical expenses, loss of housing or sudden loss of a job.

The McGraw Foundation is a longtime partner with ACI, according to Mick Weltman, ACI executive director. The foundation has awarded nearly $2.5 million to ACI since 1974, all of which has been distributed to members, and then to students, he added. $5,000 more was awarded this year than in previous years.

The McGraw Foundation is a private foundation “whose mission is to provide financial assistance for educational and charitable purposes in furtherance of the public good and promoting the well-being of all humanity,” according to its website. Established in 1948, and funded by contributions from Max McGraw and several family members and friends, McGraw Foundation has supported a variety of educational and charitable activities for 75 years. The foundation provides grants to several nonprofit causes, with a primary emphasis on education at all levels.