This report offers an estimate of the cost of a place-based scholarship program, with a similar program structure as the Kalamazoo Promise, for the City of Newark, New Jersey. It is assumed that the projected Newark Promise scholarship program would begin in the fall of 2013, and the full cost of the scholarship would not occur until 2016 when four years of students are enrolled with Promise scholarships. Once "fully loaded," annual cost estimates for a Newark Promise range from approximately $8 million to $11.5 million per year, although costs would be substantially lower in the initial years of the program. Only the scholarship costs are estimated in this report; costs associated with administering the scholarship program or any related support programs are not included.
November 19, 2012
Council of New Jersey Grantmakers
EDUCATION; Postsecondary education; Postsecondary access; Promise scholarships
Erickcek, George A. and Michelle Miller-Adams. 2012. "Estimation of the Cost of a Newark Promise." Report prepared for Council of New Jersey Grantmakers.