Two
University of Wisconsin alumni donated a record $175 million to start a
need-based scholarship foundation for college students in Wisconsin.

John and
Tashia Morgridge founded the Fund for Wisconsin Scholars to provide grants of
$1,000 to $5,000 per year to students of lower income families.

UW
Director of Financial Aid Susan Fischer said the donation dramatically helps
people who need help paying for higher education.

?I think
it?s fabulous,? Fischer said. ?It sends a message to low-income students in
Wisconsin that somebody cares.?

The FFWS
will distribute the money to universities and technical schools in Wisconsin,
where it will be further distributed through their individual financial aid
offices. The program is designed to complement the Wisconsin Covenant program,
which promises entrance to a state university for every student who signs a
pledge to get good grades and behave well.

Fischer
said there is no separate application to apply for a grant or loan from the
fund. Students? eligibility will be determined from the information provided by
their Free Application for Student Aid.

The
Morgridges are Wisconsin natives currently residing in California. They
graduated from Wauwatosa High School together and both attended UW, graduating in
1955.

John
Morgridge is the former chair of Cisco Systems and, according to Forbes
magazine, currently has a net worth of $2.1 billion, ranking No. 220 on Forbes
list of billionaires. Tashia is a retired special education teacher.

Mary
Gulbrandsen, executive director for FFWS, said the couple?s background was
important to the Morgridges’ decision to aid students in their home state.

?Wisconsin
is something that they feel very fond of,? she added.

With a decrease in government aid and a rise in tuition costs for
students, Gulbrandsen said the FFWS hopes to receive donations in addition to
the original sum donated by the Morgridges.