As many as 20 Illinois Valley Community College students each year could benefit from a newly-established partnership between IVCC and Bradley University in Peoria.

IVCC President Jerry Corcoran and Bradley President Joanne Glasser signed the agreement during a press conference Thursday morning at IVCC.

Under the agreement, up to 20 IVCC transfer students will be eligible to receive $3,500 in financial aid from Bradley. Combined with other financial aid options at Bradley, an IVCC transfer student may receive as much as $8,500 annually.

The scholarship money is all generated through Bradley funds.

Corcoran said currently about six to eight students transfer from IVCC to Bradley each year. Beginning with fall 2010, he would like to see that number climb due to the financial opportunity.

The financial aid program, dubbed Presidents Partnership Scholarships, is geared toward "high-achieving" students, who apply to Bradley and are accepted. It is open to all majors, but certain fields of study will be targeted, including engineering, education, nursing, business and other professional studies.

Both college presidents said these fields will be needed as the communities of both colleges continue to experience economic growth and development.

"For both of our institutions, this is a wonderful opportunity, an opportunity and a responsibility to address the education and economical challenges in our communities," Glasser said.

"Providing an educated and trained work force today is important," she added. "An education with a college degree today is no longer a luxury. It's a necessity."

Glasser noted this is the first partnership Bradley has formed with a community college outside of its own region. Corcoran said it was an exciting opportunity for IVCC to be linked with a quality university like Bradley.

"This is a great opportunity to look at a public two-year institution and a private four-year institution to partner for a common cause," he said.

To qualify for a Presidents Partnership Scholarship, IVCC students must have a cumulative grade point average of 3.25 or better in a minimum of 30 transferable hours. At Bradley, they must maintain a 3.0 GPA while pursuing their bachelor"s degree to remain eligible for the scholarship.

The application deadline for fall 2010 is Monday, Feb. 1. Applications and other information are available online at http://admissions.bradley.edu/transfer/.