College scholarship fund set up for

children of fallen soldiers

By Kandace McCoy

Mt. Vernon Register-News, Mt. Vernon, IL

Published Saturday, January 26, 2008

MT. VERNON — A scholarship fund has been established to benefit children of fallen Illinois service members and Madison Price, daughter of Marine Lance Corporal Kyle Price has been enrolled and will be eligible to receive a $2,500 Bright Start College Savings account.

Established through Illinois State Treasurer Alexi Giannoulias and Illinois Department of Veterans’ Affairs Director Tammy Duckworth, the scholarship will benefit Illinois children who have lost a parent in Operation Enduring Freedom in Afghanistan, Operation Iraqi Freedom or future conflicts.

The accounts, managed by the Giannoulias’ office, will be available to beneficiaries between the ages of 18 and 30 who can then use the money for college tuition, fees and room and board at accredited colleges, universities and vocational schools throughout the United States and at some institutions abroad.

Madison’s mother, Brea Tate, said she was really excited about the scholarship fund.

“Kyle would have wanted Madison to go to the best college. It’s nice to know we don’t have to worry about her not being able to get an education because of money. Now she can do anything.”

Tate added the scholarship is important to children because of the sacrifice their parents has made for their safety and their country.

“People should take advantage of this because it’s been given to them because of a sacrifice. Their parents would want to give them some kind of life.”

“The loss of a parent can have a devastating effect on children, making it more likely that they will drop out of school or struggle to pay for college," Giannoulias said. "We hope this program will honor Illinois' fallen heroes by making their children's futures a little stronger."

Director Duckworth, who aided the Treasurer's Office in developing the criteria for the scholarships, stated the accounts will be extremely helpful to families who have felt a devastating loss.

"The Fallen Heroes Scholarship Fund will help provide education for the children of our fallen heroes," Duckworth said.

"These military families have endured a loss that can never be replaced. The least we can do is ensure that these children have the opportunity to pursue an education and the American dream, the very dream their father or mother fought to protect for the rest of us."

The scholarships are funded by contributions from Bright Start program manager OppenheimerFunds, according to information from the Treasurer’s Office report.

No tax dollars are being used.

For each eligible child, the state will deposit $2,500 into a tax-free Bright Start College Savings account and invest the funds in an age-based portfolio that grows more conservative as the child reaches college age.

The scholarship accounts must be initiated by the beneficiary or a surviving family member, though the state retains control of the monetary distribution, the information states.

The scholarship can supplement federal education or death benefits.

Qualifications for the scholarship state children must be U.S. citizens younger than 30 years old and have parental documentation such as a birth certificate or adoption decree. The deceased parent's home of residence on file with the U.S. Department of Defense must be in Illinois, but the children are not required to live here to receive the scholarships.

And though Giannoulias mailed scholarship information to the families of each fallen Illinois service member in November, many letters were returned.

He asks that anyone who knows a family who may qualify to contact the Treasurer's Office immediately so their scholarship can start earning interest.

Marine Lance Cpl. Jonathan Kyle Price was killed Jan. 13, 2006, as a result of enemy small arms fire while conducting combat operations against enemy forces in Ar Ramadi, Iraq.

His daughter Madison will be two years old in March.

To request a Fallen Heroes Scholarship application, contact the Illinois State Treasurer's Office at fallenheroes@treasurer.state.il.us or (217) 558-4983.

More information on Bright Start is available at www.brightstartsavings.com.