DETROIT - A Detroit-area businessman has started a group to raise money in hopes of funding college scholarships for Detroit Public Schools graduates, according to Crain's Detroit Business.

Nat Pernick has pledged $25,000 and received pledges for an additional $15,000 for Detroit College Promise, modeled after the Kalamazoo Promise. He hopes to raise $500,000 this fall, Crain's reported. That equals about one-tenth of what it would cost to pay for just one year of college for the class of 2009 graduates.

"Of course it's a daunting number, but you've got to start one step at a time," Pernick told Crain's.

SOURCE:
Crain's Detroit Business, "Detroit kids get scholarship promise," Aug. 18, 2008

FURTHER READING:
Michigan Education Report, "Following the lead of the Kalamazoo Promise,"
Nov. 14, 2007

Share More …