Derrick Rose has launched a college scholarship program, he announced Wednesday.
The 29-year-old will award over thousands in scholarship money through the program called the Rose Scholars. On his website, Rose says there will be one grand prize winner who can win up to $200,000 and two other winners who can win up to $20,000 each.
Rose tweeted, "I'm excited to share the launch of The Rose Scholars program, a scholarship program which seeks to give high school students the opportunity they need to make their dreams a reality. "
On his website, Rose also added a letter discussing 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."
Rose's scholarship program comes two days after LeBron James opened his I Promise school for at-risk children in his hometown of Akron, Ohio.
Rose is a member of the Timberwolves after spending the first eight years of his career in his hometown of Chicago.