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Estimation Of The Cost Of A Newark Promise, George A. Erickcek, Michelle Miller-Adams

Reports

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 …