Gov. Jim Doyle's Wisconsin Covenant program received $40 million in endowment Thursday to fund lower-income students pledging the higher education plan.
The Wisconsin Covenant program involves a pledge signed by current eighth graders that rewards good grades with financial aid and a guaranteed spot at a UW System school, technical college or private university.
Supporters of the Wisconsin covenant program believe it will help lower-income students strive for a better future.
The Great Lakes Higher Education Guarantee Corporation has made the initial donation of $40 million. Doyle said he believes the contribution will urge other Wisconsin businesses to provide money for this program.
The generous gift from Great Lakes will not only bring higher education within reach to more of our students, it will make high school more meaningful by arming our students with resources and motivation to succeed,"" Doyle said in a statement.
""The governor has committed to growing the pool of financial aid in the state,"" according to Doyle spokesperson Carla Vigue.
However, Republicans remain skeptical about the funding for this program.
According to Ryan Murray, spokesperson for state Sen. Scott Fitzgerald, R-Juneau, Doyle's announcement is unclear about the sources of funding for the Wisconsin Covenant. The $40 million donation will not be nearly enough to provide financial aid for all participants, Murray said.
One major suspicion is the program may require funding beyond private donations, and Wisconsin taxpayers, according to Murray, will pay the additional funding.
Despite these concerns, Vigue claims that no additional funding, beside private donations, will be required.
Murray also said the nonpartisan state Legislative Fiscal Bureau has not released estimates about the new program. He said the reason for this is an alleged lack of information.
According to Vigue, the costs cannot yet be assessed because student financial aid forms have not yet been received.
David Giroux, UW System spokesperson, said the grant helps make the Wisconsin Covenant a more tangible reality.
""We've been long supportive of the Covenant, and this grant announced today will put some meat on the bones,"" Giroux said. ""It will provide that extra incentive for students to really think about college as an attainable goal.
