The state treasurer’s office is offering Illinois grandparents a chance to win as much as $10,000 in scholarship money for their grandchildrens’ college education.

Grandparents can win scholarship money by writing a 500-word essay on the theme, “What dreams do I have for my grandchildren?” said Carolyn Barry, press secretary with the Illinois State Treasurer’s Office. Essays are due July 1.

Barry said the treasurer’s office decided to offer the scholarship program to grandparents after observing the number of grandparents interested in starting college funds for their grandchildren.

“We do see a lot of positive support from grandparents,” said Kathy Dombek, a Sycamore High School counselor.

State Treasurer Judy Baar Topinka offers the scholarships as part of a program called Bright Dreams – A Promise for the Next Generation. The program has $100,000 in scholarship funds to be distributed among 40 winners in five districts, Barry said.

The five districts are Cook County, the Collar Counties, Northern Illinois, Central Illinois and Southern Illinois, Barry said.

Eight scholarships will be awarded in each district: one $10,000 award; two $2,500 awards; and five $1,000 awards. The scholarships are in the form of an investment fund.

“Obviously, the sooner the fund is started, the better,” Barry said.

Investment banking group CitiGroup Global Markets is sponsoring the $100,000 fund and will manage the investment of the money, though grandparents can choose how conservatively they would like the money invested, Barry said.

Only one entry per individual is allowed, Barry said. However, a child’s grandmother and grandfather both may enter an essay.

A grandparent may split the scholarship among two or more grandchildren, Barry said. Furthermore, the money may be used at any school until the student is 30 years old. The money goes directly from the fund to the school of choice.

Barry said there have been about 300 requests for applications. Essays will be evaluated by the Illinois Retired Teacher’s Association, and winners will be announced Aug. 15.

More than half of NIU students receive financial aid in some form.

In 2002, 69 percent of undergraduate students received aid, according to the NIU Office of Institutional Research. Aid includes grants, scholarships and financial aid. The figures were compiled with information from the Illinois Board of Higher Education.

Grandparents can call the Illinois State Treasurer’s Office at 217-558-4987 for more information or an application.