A first-generation college student, Theobald knows how important it is to keep education affordable. The son of a blue-collar worker for a Peoria, Ill., tractor company, Theobald was headed for factory work until he scored high enough on his SATs that a guidance counselor told him he could probably not have to pay to go to college. He went to Trinity College in Hartford, Conn., on a full scholarship then started teaching high school math in Washington state. He later became a professor at the University of Washington before heading to Indiana University, where he worked for two decades, most recently as senior vice president and chief financial officer.