SOURCE: Great Lakes Higher Education Guaranty Corporation

Great Lakes Higher Education Guaranty Corporation

September 26, 2013 09:00 ET

Internships Funded by Great Lakes Help Level the Playing Field Among College Students

More Than $2.5 Million in Grants Awarded to 19 Wisconsin Colleges and Universities

MADISON, WI--(Marketwired - Sep 26, 2013) - Unpaid internships, which offer students the opportunity to work in their field of study while they are still in college, shouldn't be a luxury available only to those who can afford to go without a salary. But for many college juniors and seniors, who go to class, study, and hold down a job to survive financially, taking an unpaid internship seems completely out of reach. When students are unable to take an internship opportunity, they miss out on invaluable, real-world experience in their field of study -- experience that can make them more competitive in the job market after graduation.

So that fewer students are forced to make the difficult choice between taking an unpaid internship that will improve their job prospects after college and keeping a low-paying job that won't, Great Lakes Higher Education Guaranty Corporation has awarded more than $2.5 million in Career Ready Internship Initiative grants to 19 Wisconsin colleges and universities. The colleges will partner with businesses throughout the state to not only create new paid internships, but to convert existing unpaid internships into paid internships. The grant-funded internships will be made available to students who don't receive enough financial aid to cover their college costs.

"Research shows that college students who gain experience through a paid internship are 67 percent more likely to receive at least one job offer after college than peers without internships," said Richard D. George, Great Lakes' President and Chief Executive Officer. "The Career Ready Internship Initiative will give nearly 1,300 Wisconsin college juniors and seniors the chance to benefit from paid internships in their fields of study -- and a better chance at competing with wealthier peers after graduation."

The following nonprofit colleges and universities in Wisconsin have been awarded Great Lakes Career Ready Internship Initiative grants:

Alverno College, Milwaukee
$150,000

Beloit College, Beloit
$80,870

Cardinal Stritch University, Milwaukee
$149,600

Carroll University, Waukesha
$94,500

Carthage College, Kenosha
$144,897

Lakeland College, Plymouth
$150,000

Lawrence University, Appleton
$125,000

Milwaukee School of Engineering, Milwaukee
$150,000

Mount Mary University, Milwaukee
$150,000

Ripon College, Ripon
$135,125

Silver Lake College, Manitowoc
$150,000

St. Norbert College, De Pere
$150,000

University of Wisconsin-Green Bay
$150,000

University of Wisconsin-Milwaukee
$150,000

University of Wisconsin-Oshkosh
$150,000

University of Wisconsin-River Falls
$28,200

University of Wisconsin-Stevens Point
$150,000

University of Wisconsin-Superior
$150,000

Viterbo University, La Crosse
$135,020

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About Great Lakes and Community Investments
Knowing that education has the power to change lives for the better, Great Lakes Higher Education Corporation & Affiliates helps millions of students pay for college and repay their student loans. Through Community Investments, Great Lakes leads initiatives and funds programs that help students from traditionally underserved backgrounds start and complete a two- or four-year degree or other credential. Since 2006, Great Lakes has committed more than $90 million in funding to programs that share these goals. For additional information, visit mygreatlakes.org/community.

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