Monroe Elementary School was named after James Monroe, the fifth President of the United States. President Monroe's great-great-grandson, Laurence Gouverneur Hoes, spoke at the dedication of the school. The original construction was completed in time for the 1931-32 school year. Colonel George Freyermuth, later a Mayor of South Bend, drew the plans for the building. The land on which the school stands was given to the school board by the family who owned it through many generations. Names of the streets nearby are the names of this family: Jennings, Farneman, Tasher, and Dean. They had an orchard on the school site where they raised Wagner apples that won first prize at the 1904 World's Fair in St. Louis, Missouri. A rededication of the building was held on October 20, 2010, following a major renovation of the building.
Today, Monroe serves students in grades K-5.