Hope Chicago, a nonprofit that supports fundraising for Chicago Public School graduates, announced that more than 1,700 students at Benito Juarez Community Academy will benefit.
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"Your college tuition, your room and board, books and fees will be paid for, and you will go to college for free," announced Pete Kadens, founder and co-chair of Hope Chicago.
All of the high school students will receive fully-funded scholarships at one of Hope Chicago's 20 partner colleges, universities or other education programs across the state of Illinois.
This is the first in a series of surprise events -- four other CPS schools will hear the same news this week. That means a total of 4,000 students will receive debt-free scholarships.
Hope Chicago is led by former CPS Janice Jackson, who was waving a huge check on stage and celebrating with the recipients of the scholarships and their parents.
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The nonprofit aims to raise and invest $1 billion in scholarships and other support over the next decade for Chicago students and their parents, according to its website.
This round of funding totaled $40 million from private donations.
"We were trying our best to save as much as we could when I was little," said Benito Juarez senior Anabel Limon-Torres. "But now it's like we were worrying for nothing. It's a really happy day for everyone."