The Thomas L. Conlan Education Foundation has an additional $200 million to support education in Ohio, thanks to the sale of its subsidiary this week.
The sale of Student Loan Funding Resources to Sallie Mae for $117.3 million in cash enables the foundation to implement a new strategic plan to boost youth education in Ohio. The plan, which will be announced this fall, follows a comprehensive assessment of Ohio’s education needs.
“This is great news,” said Mark Real, executive director of the Ohio Children’s Defense Fund. “The Conlan Foundation is dealing with the hard issues facing Ohio’s children and educators.”
Formed in 1998, the Cincinnati-based foundation supports college access initiatives, school-to-career programs and early childhood learning activities in Ohio. The foundation plans to extend its reach to nontraditional students in the state.