A spokesman for New York City Mayor Michael Bloomberg says...

A spokesman for New York City Mayor Michael Bloomberg says the mayor has raised funds from sources that are remaining anonymous to resume the state Regents exams. (July 25, 2011) Credit: Getty Images

New York City Mayor Michael Bloomberg has raised $1.5 million to resume January Regents exam testing statewide.

The tests that allow as many as 5,000 New York City students to graduate in January were canceled this year because of the state budget deficit.

Statewide, the tests give students a chance to graduate early or to re-take Regents exams they failed or did poorly on. In either case, the January exams can be important for students planning to go to college.

A Bloomberg spokesman says Wednesday the mayor raised the funds from sources that are remaining anonymous.

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