TERRE HAUTE, Ind. (WTWO/WAWV) — The largest individual donation Indiana State University has ever received has led the school’s trustees to rename the College of Technology as the Bailey College of Engineering and Technology.

ISU made the announcement Friday. Steve and Gloria Bailey donated $8 million to the university. ISU says the money will create scholarships, faculty fellowships, and a “Dean’s Fund” with the goal of attracting more students and faculty to campus.

Some of the funds will be used to create $3,000 scholarships that are renewable for up to two years, with 50 such scholarships offered in the Fall 2023 semester. Other portions of the fund will go toward creating the Bailey Faculty Fellowship Fund, which will recognize outstanding faculty members with a $10,000 award.

The fellowships, renewable for up to three years, fund activities such as research and conferences but do not supplement salaries. The fund will not only recognize high-achieving faculty members already at ISU but will help the university recruit new faculty to the BCET. 

ISU News Release

“We are deeply grateful to Steve and Gloria Bailey for this historic gift,” ISU President Dr. Deborah J. Curtis said. “It shows great confidence in the mission of Indiana State University and generous support for our tremendous faculty and students. As an alumnus, Steve built upon his experience at ISU to become incredibly successful in business. With this gift, Steve and Gloria will impact more lives than we can imagine and leave a lasting legacy.”

Image of Steve and Gloria Bailey (courtesy ISU)

Steve Bailey graduated from ISU in 1971 with a degree in automotive technology. Bailey went on to be the CEO of Diesel USA Group. Bailey is part of the ISU Foundation Board of Directors and serves on the College of Technology Dean’s Advisory Council.

Gloria Bailey, in 2020, helped the Interior Architecture Design students at ISU in their project to redesign and furnish the atrium of the John T. Myers Technology Center.

Currently, the couple lives in both Naples, Florida, and Louisville, Kentucky. The Baileys were recognized recently as March On! Award recipients.

“Gloria and I are so impressed with the direction of Indiana State under President Curtis’ leadership,” Steve Bailey said. “We have seen firsthand the great work being done to provide first-generation college students with a high-quality education through mentorship, curriculum, and experiential learning. We feel passionately that the three prongs in this gift — the student scholarships, the faculty fellowships, and the dean’s fund — will positively impact the lives of engineering and technology students for years to come.”

“Every facet of Indiana State, and this gift, excites us because we know how much of an effect it can have on students,” Gloria Bailey said. “Steve attributes much of his success in his career to his time at Indiana State. We are hopeful that this gift will be the best investment of our lives.”