A new evaluation of Denver’s promise scholarship program estimates that every dollar spent on a student who graduates with support from the foundation yields nine times that amount in local, state, and federal taxes.
The Pell Institute for the Study of Opportunity in Higher Education, based in Washington, and Development Research Partners of Jefferson County, Colo., released a study last month that determined the Denver Scholarship Foundation’s work adds $6-8 million in additional earnings to the regional economy each year.
The foundation, which blends private and public resources, provides college counseling at “future centers” in Denver’s public high schools, gives about 1,600 college scholarships to qualified students each year, and offers ongoing counseling once students get to college. About 76 percent of scholars are persisting or have graduated since the program was established in 2006.
