Mayor Rahm Emanuel and CME Group, the world’s leading and most diverse derivatives marketplace, today announced a new scholarship award to support more Chicago Star Scholars in continuing their college education once they obtain an associate degree from the City Colleges of Chicago (CCC). Beginning this spring, CME Group will select 25 students to receive scholarships that will support them in furthering their college career with a bachelor’s degree in math, computer science, finance or economics at one of the City’s 15 Star Partner universities this fall.
“Today, in the City of Chicago, high school graduation is no longer the last stop on a student’s educational journey,” said Mayor Emanuel. “I want to thank CME Group for their continued commitment to ensure that more of Chicago’s hard working students, regardless of financial means, can access college degrees and the career opportunities that come with it.”
To ensure more students from all economic backgrounds can access a viable pathway to college, Mayor Emanuel created the Star Scholarship in 2014 to reward hard-working Chicago Public Schools (CPS) graduates with an opportunity to pursue a degree or certificate at City Colleges at no cost. Since that time, the program has grown to include partnerships with 15 Chicagoland colleges and universities to enable Star Scholars to continue their college education at a four-year university.
CME Group joins the movement to ensure Star Scholars can continue with four-year opportunities this spring by providing 25 two-year scholarships valued at $5,000. This transfer scholarship opportunity is available to Chicago STAR Scholar graduates planning to continue their studies at one of the 15 Chicago Star Partnership colleges or universities to earn a four-year degree in a STEM-related pathway, which are in high demand by employers today.
“We are proud to support the Mayor’s Chicago Star Scholarship and the opportunities it provides for our city’s hardworking and high-achieving CPS graduates,” said CME Group Chairman and Chief Executive Officer Terry Duffy. “The program is testament to the strength of not only our city’s schools, but our talented students—and investing to enable them to continue their education today will only increase the vitality of our future business community tomorrow.”
Working with CCC, CME Group will select 25 students this spring from a pool of 100 qualified candidates, supporting them in a plan that will ensure a successful transition to four-year programs this fall. A select number of scholars will also be chosen to receive a summer internship at CME Group member clearing firms. To be eligible for the CME Group Award for Star Scholars Achievement, students must graduate this May with a cumulative GPA of 3.0 or above and a major in math, computer science/information technology, finance or economics.
Now in its second year, the Chicago Star Scholarship program at CCC is helping more than 2,000 Chicago Public School (CPS) graduates attend college tuition-free this fall, a 20 percent increase in new scholars this year over last year. STAR Scholars are diverse, representing more than 100 CPS high schools. Star Scholars have shown higher academic performances, including significantly higher GPAs, suggesting that students enrolled in this program are highly likely to persist in their coursework toward a degree.
CME Group has long partnered with the City of Chicago on initiatives designed to help make college more affordable and attainable for CPS graduates. In 1986, CME Group and the City of Chicago launched the CME Group Mayoral Award for Student Achievement, which has awarded more than $2 million to thousands of high-achieving CPS students in pursuit of college degrees.
This new scholarship is the latest in a series of efforts by the administration to coordinate across CPS and CCC to make college more affordable and attainable for students citywide. Just last week, Mayor Emanuel announced a new policy initiative designed to ensure CPS graduates are better prepared for the next steps in college and career by making a plan for postsecondary success a graduation requirement, starting with the Class of 2020. This new initiative makes Chicago the first city in the nation to take this forward thinking approach on education, and will encourage more students to consider college as a viable option.
With more students today graduating from high school in the City of Chicago than ever before, and with hundreds of Star Scholars expected to graduate this year alone, increasing access to college programs that will prepare students to seize the jobs of the 21st century workforce is critical.
Star Scholars should apply for the scholarship by the deadline of April 21, 2017. For more information, visit CME’s website. For more information on the Chicago Star Scholarship at City Colleges of Chicago, visit www.ccc.edu/starscholarship.
About CME Group
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through its clearinghouses CME Clearing and CME Clearing Europe. CME Group’s products and services ensure that businesses around the world can effectively manage risk and achieve growth.
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