DENVER -- The University of Colorado said it will team up with the Denver Scholarship Foundation to provide scholarships that will cover nearly all college expenses for Denver Public Schools high school graduates who qualify for need-based financial aid.

The scholarships would cover students at all three CU campuses in Colorado.

In a statement the university said it hopes the partnership will inspire "all DPS students to strive for academic excellence and opportunities."

The scholarships will go to undergraduate students for their first degree. Students will have to demonstrate financial need by filling out a Free Application for Federal Student Aid.

The packages will be a combination of state and federal aid to help pay for tuition, fees, books and a significant part of living expenses for up to five years for eligible students.

DSF board President and Chairman Tim Marquez said the program "goes a long way toward leveling the playing field for students of need in Denver."

"Having been raised in the DPS district, I greatly appreciate CU’s support of those students," Marquez said.

DPS families can access more information about these scholarship packages and eligibility requirements at denverscholarship.org.