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2004: Jalen Endows Scholarship at U-M

June 24, 2008

August 12, 2004 — Jalen Rose, former University of Michigan basketball
player and currently a guard with the NBA’s Toronto Raptors, has made a
gift of $240,000 to the University to endow a scholarship for an
incoming freshman.

The gift was made by the Jalen Rose Foundation under the auspices of
the Giving Back Fund, a public charity that specializes in helping
celebrities become philanthropists. The Jalen Rose Endowed Scholarship
will be available to a first-year student with special consideration
for students who come from the state of Michigan and either reside in
an inner-city area, or are a member of an underrepresented group. The
scholarship award will be based on both merit and financial need. The
first award will be made to a student entering the U-M this fall.
The $10,000 scholarship will completely cover the cost of in-state
tuition at the University of Michigan, as well as provide support for
additional expenses. It will be renewable for three additional years,
provided the student recipient meets the eligibility requirements,
which include maintaining at least a 3.0 grade-point average.

Rose has said that his desire to establish the scholarship fund grew
both out of an appreciation for a University that set him on a path to
succeed and his wish for other students to benefit from that same
opportunity, particularly those from in an inner-city environment. Rose
grew up in Detroit and attended Detroit Southwestern High School.

"The opportunity to go to Michigan is phenomenal," he said. "These
students represent the leaders of tomorrow, and I am trying to
influence as many as I can."

Rose, a former All-American basketball player at Michigan, has a
long-standing history of philanthropy in the communities that have
influenced his life. He was recognized as the Community MVP for the
Toronto Raptors in April 2004, and received the NBA’s Community Assist
Award in 2003. This past June, he gave $50,000 to five Detroit high
school students in order that they might realize their college

"College is a barometer of success in today’s society," Rose said.
"There aren’t a lot of good jobs for students who don’t follow through
and obtain a college degree. Knowledge is power."

"For far too many students from inner-city neighborhoods, college is an
almost unattainable goal. Even if a student gets good grades and meets
admission standards there remains the issue of how they are going to
pay their tuition and related costs."

Eligible students entering the U-M in the fall 2004 semester are
currently being considered for the award. In order to be eligible for
the Jalen Rose Endowed Scholarship in future years, students must apply
for admission to the University of Michigan prior to the February 1
application deadline, and must file the Free Application for Federal
Student Aid (FAFSA) no later than March 1.