Murphy Oil Pledges $50 Million To El Dorado Graduates

This is to me an example of a corporation giving back to its community in a BIG way. I am seriously thinking of moving down to El Dorado now simply because my child will be able to go to teh school that fits his goals and not have to settle for one we can simply afford.

This is amazing:

Students in El Dorado will get a college education for free thanks to one of the single-largest private gifts in the history of Arkansas.

Murphy Oil Corporation has pledged up to $50 million to pay tuition costs of El Dorado High School graduates for the next two decades.

It's called the El Dorado promise. All students have to do is enroll in El Dorado schools and keep a C-average. They go to the college of their choice, and Murphy Oil promises to foot the bill.

Cheers erupted in the crowd of students as the reality that the burden of paying college tutition has been lifted sets in.

(Janease Traylor, El Dorado Senior) "I'm like overjoyed. I am like overwhelmed with this. I don't really believe it yet."

(Emile Turbeville, El Dorado Senior) "I couldn't imagine something this big happening to us. It's incredible to think."

(LeBryant Crew, El Dorado Senior) "Big money. It's extremely big money."

It's an even bigger commitment from El Dorado-based Murphy Oil. CEO Claiborne Deming says out of all the decisions the corporation's board makes, the one to invest in local students was one of the most obvious.

(Claiborne Deming, Murphy Oil Corporation) "With a 50-million dollar investment, we can make a huge difference in the lives of 4400 students...we can impact so many people so immediately, so directly."

Only students who attended El Dorado schools from kindergarten through 12th grade will get 100% of the scholarship. The last year to enroll in the district and still be eligible for partial funds is ninth grade.

The maximum amount paid is set by what tuition is the most expensive Arkansas public college or university--but students can take the money to the school of their choice.

(Melissa Eckart, El Dorado Senior) "It's one less thing to worry about. Now I can focus on finding a place that's perfect for me, not just for can we afford it or not."

The El Dorado Promise goes into effect this spring. The $50 million is expected to last 20 years.

Now isn't that one of the coolest things you have seen in a while? Of course it also tells me that these oil companies are indeed making tons of money, but the next question I have to ask is why aren't more local companies doing something similar? I hope that more companies in Arkansas follow Murphy Oil's example because it is an investment in the future of Arkansas, in their community and in the long run, thier business.

~ Terhune