This endowment was established in 1996 in memory of Professor Taimi Maria Ranta.
The scholarship is awarded to a full-time or part-time junior, senior, or graduate student majoring in English focusing on children's or adolescent literature.
In addition to scholarships, funds may be used to provide resources for deserving students who are studying Children's Literature and who wish to present scholarly works at related conferences. Those students who receive these scholarships will be designated as "Ranta Scholars."
Assets of this endowment are invested in the Illinois State University Foundation's long-term investment pool.