Some great news came out of El Dorado this week when Murphy Oil Company announced a $50 million dollar program to help high school students pay for college tuition.
The El Dorado Promise is a corporate pledge of $5 million dollars per year for 10 years. This contribution is expected to help cover college tuition costs for participating El Dorado students for the next 20 years. Murphy Oil Company deserves some major kudos for this wonderful commitment.
The idea originated in Kalamazoo, Michigan where there first scholarship recipients began school this past fall. There were 400 students eligible for the scholarship and 320 took advantage of the benefit. According to officials, Kalamazoo has seen property values increases, population growth and many other positive developments. El Dorado leaders are hoping for the same results in their community.
We know that all companies are not capable of providing such significant support, but imagine the positive impact if the major companies in Arkansas and others businesses across the country, created a similar program in their communities... even partnering together to adopt just one school.