The Rose Scholars program will focus “on students who are civically minded and demonstrate a willingness to lead,” according to the NBA, which quoted Rose saying, “I hope to provide students a path to college that was not previously available to them.”

According to Sports Illustrated, Rose says there will be one grand prize winner that can win up to $200,000. Two other winners will be able to win up to $20,000 each.

On his website, Rose also added a letter addressing why he wanted to start the fund.

“I know we can all identify a moment where our lives changed (when) a new path opened up to us that was not previously available,” Rose said in the statement. “This new path allowed us to make different decisions and start to imagine new possibilities. This is exactly what the Rose Scholars program is meant to achieve in each and every one of you that applies.

“I feel that I have a personal responsibility to help you be better, achieve more and dream bigger. So, thank you.”

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