The Charlotte Observer reports the University of North Carolina - Chapel Hill is expected to announce the $20 million scholarship fund Friday, which is the school's 225th birthday.
The program won't award full scholarships. But it will help cover costs for students from families who don't qualify for the school's Carolina Covenant program, which provides a debt-free degree for low-income students. It will provide $7,500 per year, plus $2,500 in annual work-study and a $2,500 one-time grant for studying abroad.
The Blue Sky Scholars program has received $5 million in funding from former school President Erskine Bowles. The school still needs to raise the remaining $15 million.
Information from: The Charlotte Observer, http://www.charlotteobserver.com
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