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Mission & History


The Monroe Foundation assists deserving individuals in their pursuit of higher education, emphasizing support of underserved and veteran students and others who are qualified to attend college but who require additional financial assistance to pursue or resume their education.

The Foundation seeks to help lift financial barriers which, if not addressed, may result in qualified students being unable to continue the path to the attainment of higher education credentials.



The Monroe Foundation was founded in 1993, primarily as a vehicle to assist Monroe College students in the pursuit of their educational goals.  Very often, the grant funded the entire cost of a semester’s tuition.

In time, educational research studies began to highlight that many students were unable to complete their degrees for lack of smaller amounts of balances that remained after all other sources of funding were exhausted.

When Stephen Jerome assumed the Presidency of the Foundation in 2017, a shift in philosophy took place, and ‘gap funding’ was initiated.  Rather than funding the entire cost of a student’s tuition, the Foundation now looks to close the gap that may prevent a student from continuing his or her studies and graduating. Awarding grants ranging from $1,000 to $5,000 per semester allows the Foundation to increase the number of students that can be assisted and, ultimately, the number that can graduate.