Rose announces $400,000 scholarship program

Derrick Rose wants to lend a hand to students who could use support. The Minnesota Timberwolves guard announced a program Wednesday that will see up to $400,000 handed out in college scholarships over the next several years.

Called "The Rose Scholars," the former NBA MVP is courting applications from "civically minded" leaders in their sophomore, junior, or senior years of high school. The grand prize winner will receive $200,000 towards their college expenses, paid out in $25,000 increments every semester over four years, while other smaller scholarships will also be rewarded.

The scholarship program is an "award that would reflect on my desire to find greatness, my dedication to perseverance and determination, my passion for self-empowerment, and my wish to elevate it in promising individuals," Rose explained in a message posted on the Rose Scholars website.