El Dorado High School

Danny Johnston / AP

Nine years ago today, El Dorado, Ark.-based Murphy Oil Corp. announced a surprising corporate move. It would give every child in the town an opportunity to go to college without the burden of tuition.

Former President Bill Clinton spoke at El Dorado High School's sixth annual Academic Signing Day. The ceremony recognized El Dorado-based Murphy Oil's $50 million scholarship fund, and more than 300 seniors who will take advantage of the generous tuition scholarship. The scholarship director says over the past five years, the Promise Fund has paid out $8.5 million in tuition costs for nearly 1,000 El Dorado High School graduates.