LeBron James' commitment to send kids from his school to college could one day reach over $100 million
- LeBron James opened his public school, the I Promise School, in Akron, Ohio, on Monday.
- Kids who graduate from the school and meet specific standards will qualify for a full scholarship to the University of Akron, through the LeBron James Family Foundation.
- James has pledged to send up to 2,300 kids to school, potentially creating a $105 million commitment.
LeBron James on Monday unveiled the I Promise School, the new public school he opened in Akron, Ohio.
The school will start with 240 at-risk children (third and fourth graders) with plans to expand to over 1,000 students.
In addition to an extensive infrastructure meant to support the students, kids in the I Promise program will also have a chance to earn a full scholarship through the LeBron James Family Foundation to the University of Akron.
According to a spokesperson for the foundation, the I Promise program currently has 1,300 kids. When James and his foundation announced the program in 2015, they said they could give scholarships to as many as 2,300 students.
If 2,300 students were to qualify for the scholarships, it would be quite a commitment by James and his foundation (which teamed with J.P. Morgan Chase for the program). Tuition and fees for in-state students at the University of Akron are currently $11,466. Over four years, that's $45,900. For 2,300 kids that would be approximately $105 million in scholarships.
Of course, it's possible that 2,300 kids don't qualify for the scholarship, bringing that number down. In an interview with Business Insider in 2016, James confirmed that students would need to hit specific standards, including graduating with a 3.0 GPA, to qualify for the scholarship.
A spokesperson for James said putting a number on the commitment would be inaccurate because the cost of tuition could change.
Nonetheless, at the current rate, with a growing program, it's safe to say James' commitment could be huge.
James called the opening of I Promise School the most important accomplishment of his career. In addition to improving his hometown community, his commitment could change a generation and perhaps start a new trend among athletes.