A $50 million private-scholarship program that will help Denver Public Schools kids from three high schools go to college will not cap gifts for those attending in-state public universities in this first year’s pilot program, officials said Thursday.
Grants for students going to pricier private schools – some whose tuition runs more than $25,000 a year – will be capped at $5,000 annually.
But next year, when the Denver Scholarship Foundation is expanded to high schools districtwide, scholarships will be capped at $3,200 a year for students attending state public schools and $5,000 for those going to private colleges.
“We’re confident these policies will enable us to fulfill the needs of the students we’re serving,” Tim Marquez, who started the Denver Scholarship Foundation, said in a news release. “Our goal is to help as many students as possible, so we need to make sure we stretch our dollars.”
There are about 500 new graduates from the schools tapped for the pilot program, although the number who will receive scholarships is not yet known.
Marquez, Denver Mayor John Hickenlooper and DPS Superintendent Michael Bennet unveiled the Denver Scholarship Foundation last fall. Marquez, chief executive of a large oil company, gave $50 million of his own money to get it off the ground.
But confusion quickly settled in at the three pilot high schools – Abraham Lincoln, South and Montbello – about who the program would help and how much money each student would receive. Because caps weren’t initially announced, many students, counselors and parents thought the program would give everyone a free college education.
“We launched this as a pilot program so we could make this our learning year,” said foundation spokeswoman Cindy Abramson.
Other rules released Thursday:
The Denver Scholarship Foundation will not give any money to undocumented illegal immigrant students, but officials say foundation counselors will help those students find private scholarships.
To be eligible for Denver Scholarship Foundation money, students must apply for three other private or institutional scholarships, they must apply for federal aid, and they must be accepted to a participating in-state college.
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Staff writer Allison Sherry can be reached at 303-954-1377 or asherry@denverpost.com.
