Roosevelt University announced the creation of the Teresa and Hipolito Roldan Scholarship Fund for Tomorrow’s Hispanic Leaders in Community Development and Real Estate.

The $100,000 fund at The Chicago Community Trust was created by Hipolito “Paul” Roldan, president of the Hispanic Housing Development Corporation, in honor of his parents, Teresa and Hipolito Roldan. It will provide graduate-level scholarships of $5,000 per year for students to attend Roosevelt University’s Chicago School of Real Estate. Scholarship recipients will receive up to two years of assistance for either a Masters of Business Administration with concentration in real estate or a Master of Science in real estate.

The program is targeted at economically disadvantaged candidates from the Hispanic community in the Chicago area, particularly those who have demonstrated service to the community. Applicants must have an undergraduate degree (with a 3.0 grade average) and two to three years of work experience in community development, real estate or a related field.

Hispanic Housing Development Corporation and Roosevelt’s Marshall Bennett Institute of Real Estate will collaborate in establishing and growing the program. One of their goals will be to seek additional donations for the fund from organizations, companies, foundations and public agencies to facilitate at least $70,000 of scholarship assistance in the first five years. Contributions can be made through the trust and designated to the fund.