About half of North Carolina's top high school seniors leave the state for their undergraduate education. To help attract these students to Carolina, the UNC Board of Trustees has created 60 new merit-based scholarships.
The scholarships, renewable for four years, will award 55 of the top in-state applicants with up to $10,000 for four years and five of the top out-of-state students with up to $60,000 for four years. The scholarships will be funded by the University's proceeds from trademark licensing royalties and related investments, which reached nearly $3.5 million in 2003-04.
Previously, 75 percent of these proceeds funded general scholarships—mostly need-based—while 25 percent went to the athletic department. Now, 100 percent of proceeds will be devoted to academic scholarships, with 75 percent still funding general scholarships and 25 percent supporting merit-based scholarships. The Department of Athletics will receive revenue from a new student athletic fee designed to enhance UNC's Olympic sports program.
Carolina has already made the commitment to meeting 100 percent of the demonstrated financial need of undergraduate students. These new scholarships, in addition to innovative programs such as the Carolina Covenant, have helped make the University a national model for preserving affordability and accessibility, while also supporting Carolina's goals of promoting access and excellence.
Spring 2005 Carolina Connections home...