Gov. Jim Doyle today announced the creation of a $40 million endowment to help fund his Wisconsin Covenant plan, which will guarantee financial aid for college-bound high school students.
During an event in Milwaukee, Doyle said the program will begin with a contribution from the Great Lakes Higher Education Guaranty Corp., which he said will be used to challenge other businesses to contribute to the covenant program and provide grants to students.
Doyle also announced the creation of a new Wisconsin Covenant Foundation, a private, nonprofit and tax-exempt charity that will raise and distribute money for the program.