Over the past two years the event has raised nearly $90,000.
Members of the Chapel Hill High School band march down Franklin Street along with thousand of local residents.
"It's an opportunity for each school to fundraise for their own school, and to raise money for the extra things they do want for their school," walk organizer Ellen Virchick said.
The money that was raised can be used to buy books, equipment and even band instruments.
Some students are already thinking about how they can spend the money.
"We can get more stuff for the athletic department," one student said.
More than 3,000 students, parents and volunteers walked just over a mile in the blistering heat.
"The public school foundation comes in and does special projects, and the special opportunities," Rep. David Price said. "It really is a mark of the community's dedication to quality public education."
The event raised $52,000 compared to a total of $38,000 last year. Organizers say it is gratifying to watch kids work to improve their schools.