The announcement was made at the 2003 College Awareness Rally hosted by the School District ’s newly formed Office of Career and College Awareness and GEAR UP (a federal initiative that prepares elementary, middle and high school students for succeeding in college) that gathered 2,000 students from public schools from throughout the city.

            “We have invested in new leadership, new books and stronger teachers for our schools. We have invested in building new schools for our students. Now we’re investing directly in our children knowing that the payoff will be more students pursuing a path that otherwise may not have been available to them,” Mayor Street said. “This is a critical part of our overall plan for transforming our neighborhoods and our city. If transformation is to happen, it must begin with the people who live in our neighborhoods. Providing these last dollar scholarships for eligible public high school seniors should raise expectations of what they can accomplish and how we can help them realize their potential.”             

            With the formation of this program, Philadelphia will become the first city in the nation to offer system-wide scholarship assistance to seniors graduating from every public (including charter) high school.

“The commitment that the Street Administration and School Reform Commission are making today places Philadelphia at the forefront of public education for our children,” Congressman Fattah said. “Four years from today, we expect to see increases in the number of students graduating from our high schools and going on to  college. With these scholarships, each student in Philadelphia’s public high schools will now be motivated and burdened by the possibilities and certainty that they are the architects of their own future and that of our city’s.”

            The scholarships will be funded with contributions of up to $4 million from the City of Philadelphia for the next four years (for a total of $16 million), and up to $6 million from the School District of Philadelphia for the next four years (for a total of $24 million). The School District contribution must be approved by the School Reform Commission and is contingent upon the availability of federal grant funding -- particularly the extension of the GEAR UP program -- for this purpose. The City of Philadelphia’s contribution is contingent upon approval by City Council.

Both sources of public funding are intended to jump start this program. Congressman Fattah is leading an endowment campaign that is intended to raise $150 million in private contributions from individuals and organizations that will be structured to provide last dollar scholarships starting in 2008 and continuing in perpetuity. In addition to these funds, Sallie Mae – the nation’s leading source of college financing  – will underwrite all administrative costs associated with operating this program to ensure all the monies raised go directly to student scholarships.

            “Building new schools, strengthening our curriculum and reforming how we teach in our classrooms means little if we can’t motivate our students to learn and achieve,” said Mr. Vallas. “As we work to make students more academically ready for college, it also makes sense to help them financially so they have a better chance of making it through that critical first year and improve their chances for lifelong success.”

            The Pennsylvania State System of Higher Education (SSHE) – which comprises 14 universities throughout the Commonwealth – has agreed to work with the scholarship program so that any last dollar scholarship monies received by the students will not adversely affect their eligibility for other financial aid, according to State System Chancellor Judith Hample. PHEAA (the Pennsylvania Higher Education Assistance Administration) will provide training for the coordinators of existing outreach programs to increase student awareness of financial aid options available after graduation.

The maximum scholarship award will be $3,000 and will be available for freshman year only. The amount of scholarship to be provided will be determined after taking into account all other financial and scholarship aid awarded (i.e. “last dollar”) and calculating the student’s remaining need.

Applicants for the CORE Philadelphia “Last Dollar” Scholarship must be:

• a resident of the City of Philadelphia, along with at least one parent or legal guardian.

• a high school senior in the School District of Philadelphia or participating charter school who has attended Philadelphia public schools for at least four consecutive years prior to graduation.

• pursuing either an Associate’s or a Bachelor’s degree at Community College of Philadelphia, a Pennsylvania public college or university in the State System of Higher Education or a state-related institution