(NewsNation) — Roc Nation, the music and sports talent agency founded by Jay-Z, will spend about $300 million in scholarships for students in Philadelphia.
Roc Nation will hold several events around the city this month to share information about the grants, which will help children from kindergarten through high school.
“We have enjoyed such a special connection with Philadelphians, so we’ve made it our mission to invest in the long-term success of the city’s changemakers,” said Roc Nation managing director of philanthropy Dania Diaz in a statement.
“We want to empower the youth and families with the knowledge to pursue their scholastic dreams, make their voices heard and become the leaders of tomorrow,” the statement said.
The scholarships will begin at $2,500 for half-day kindergartners, $5,000 for primary school students and $10,000 for high schoolers. The money will give children a chance to attend private schools and other educational entities around Philadelphia.
The aid will be limited to children in families with incomes tied to the federal poverty threshold. The 250% peg would cap the eligibility at $75,000 for a family of four.
