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Barbara Coffman
IU Foundation

Last modified: Tuesday, May 4, 2010

Balfour Foundation awards IU Bloomington grant for deserving student scholars

May 4, 2010

BLOOMINGTON, Ind. -- The Lloyd G. Balfour Foundation, whose trustee is Bank of America, N.A., has awarded a two-year $400,000 grant to Indiana University through the IU Foundation to support student scholarships on the Bloomington campus.

The grant will provide financial resources to deserving, high-achieving students from under-represented populations at IU Bloomington. The grant will be counted as part of the campus's $1.1 billion Matching the Promise fundraising campaign.

"Lloyd G. Balfour had a lifelong commitment to supporting education, especially for programs that provide access to higher education for underserved populations. Now in these challenging financial times, scholarship support is even more important for improving opportunities and access for students," said Kim Igoe-Kasper, Bank of America senior vice president and foundation officer for philanthropic management for the Balfour Foundation. "Giving to this student scholarship fund is exactly what Mr. Balfour had in mind when he established his foundation."

Roger Thompson, IU vice provost for enrollment management, added, "Indiana University is grateful to the L.G. Balfour Foundation for their support, now and over the years, in assisting students from middle- and low-income households in their quest to fulfill their potential and earn a degree. Not only do these students win, but IU wins too, with a broadened and more diverse student population."

The Lloyd G. Balfour Foundation was established in 1973. Among its priorities for philanthropic support are education and college readiness. Balfour graduated from IU in 1907.

The Matching the Promise campaign is providing scholarships and fellowships to help keep IU affordable and attractive to top-notch and deserving students, funding for faculty chairs to attract and retain leading academic talent, and resources to construct high-quality teaching and research facilities. A major objective of the Matching the Promise campaign has been to give students a chance to earn a degree from IU Bloomington and leave campus with no or minimal debt.