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KNIGHT FOUNDATION GIFT RAISES PHILADELPHIA SCHOLARS FUND ENDOWMENT TO $2.5 MILLION

 KNIGHT FOUNDATION GIFT RAISES PHILADELPHIA
 SCHOLARS FUND ENDOWMENT TO $2.5 MILLION
 PHILADELPHIA, Jan. 16 /PRNewswire/ -- Knight Foundation has joined the ranks of individuals and major supporters from the business community with a grant of $100,000 to the Philadelphia Scholars Fund, it was announced by Dr. Constance Clayton, superintendent of schools.
 The fund provides "last-dollar" college scholarships to Philadelphia's public school graduates. Knight Foundation's grant raises the fund to nearly $2.5 million.
 At last week's reunion of scholar recipients, students called their "last-dollar" scholarships "a dream come true," "a prayer answered." One student said that her award paid for her books ... "With a biology book costing $75, my last dollar scholarship made going to college possible." "It has lived up to its name," said another college freshman. Many bright young students miss the opportunity to go to college because of what may sometimes be a gap of a few hundred dollars, or event the cost of a daily commute.
 Established in 1950 by John S. and James L. Knight, Knight Foundation is one of the nation's largest private foundations. It makes national grants in journalism, higher education and the field of arts and culture. It also supports organizations in communities where the Knight brothers were involved in publishing newspapers but is wholly separate from and independent of those newspapers.
 Created in 1990 by the Philadelphia Schools Collaborative, the Philadelphia Scholars Fund has helped 89 high school graduates in West Philadelphia realize their dream of attending college. Stipends from the Philadelphia Scholars Fund may be used to cover typical charges, such as tuition and fees, and books and transportation.
 The fund was launched through the efforts of the University of Pennsylvania with an award of $1 million through generous gifts from Penn trustee, John B. Neff. A. Morris William Jr., chairman of the advisory board of the Scholars Fund, and his wife Ruth kept the incentive going with a gift of $500,000 to the endowment. Other foundations (Allen Hilles, Douty, McIean Contributionship, Hermes) have contributed to the fund but the Knight gift is the largest foundation gift to date.
 As more foundations, corporate and individual benefactors step forward, the fund will expand to serve public high school students from all over the city. The fund's goal is $15 million.
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 -0- 1/16/92
 /CONTACT: Helen Cunningham of the School District of Philadelphia, 215-299-7279/ CO: Knight Foundation; School District of Philadelphia ST: Pennsylvania IN: SU:


JS-MP -- PH031 -- 0629 01/16/92 15:18 EST
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Publication:PR Newswire
Date:Jan 16, 1992
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