HAMMOND | In tough economic times, paying for college tuition may stretch or sink a family's budget. The city's College Bound scholarship program has helped make college an affordable reality for nearly 300 Hammond students since it was established in 2006.

Dozens of Hammond families whose children have received the scholarship gathered Saturday evening for the first annual scholarship celebration at the Jean Shepherd Community Center, hosted by Mayor Thomas M. McDermott Jr.

"It's meant financial freedom. It was a godsend," Pat Youngs said of the scholarship that is paying for her daughter's college tuition. Now a junior majoring in English at Purdue University Calumet, Cori Youngs was among the first Hammond residents to receive College Bound funds.

"It's the best thing (Mayor McDermott) has ever done," said Dennis Youngs.

Initiated by McDermott and unanimously approved by the City Council, the College Bound program uses casino revenue to provide funding for tuition up to $8,250 per year at any accredited Indiana public or private college or university for qualified high school graduates. Among the criteria for receiving the scholarship is that a student's parents or legal guardians must own a home in Hammond, said Tom Dabertin, a consultant who administers the program for the city.

Kathleen and James Radloff said they've seen their purchase of a home in North Hammond 27 years ago pay off for their son, Steven. Now a sophomore majoring in pharmacy at Purdue University West Lafayette, Steven first received the College Bound scholarship in 2007.

College Bound "has given us a nice boost," Kathleen Radloff said. "We're glad to be living in Hammond."

Other families at Saturday's event said the scholarship meant their children could attend the college of their choice.

Without the College Bound scholarship, the Torres family "would have been scraping for tuition" for daughter, Crystal, to attend St. Joseph College in Rensselaer and major in elementary education, said Luz Torres.

Crystal Torres, 19, is one of 115 students to receive a College Bound scholarship in 2008.

And Ester Alvarez has been able to pursue her dream of a nursing degree at Purdue University Calumet thanks to the College Bound funds.

"It's meant a lot to me," said the college sophomore.

For the Alvarez family, Ester's college tuition "would have been a stretch," said her father, Carlos. "It's a great benefit for us."

McDermott said that's what he had in mind when he introduced the program.

"With the challenges of the current economy, it is more important than ever for our youth to continue their education. Earning a college degree will generate more and exciting opportunities when these individuals enter the work force," he said.

"This is my favorite thing. No matter how long I am mayor of Hammond, I'll always be remembered for College Bound."