The University of North Carolina at Chapel Hill has announced a $20 million challenge gift from an anonymous donor in support of need- and merit-based scholarships.
Part of a bigger, $40 million gift, the "Give for Good: Scholarship Challenge" will match gifts for two scholarship programs — the Carolina Covenant and the Morehead-Cain Scholarships — up to $10 million for each program through October 2017. Founded in 1945, the Morehead-Cain program was the first merit-based scholarship program in the country, while the Carolina Covenant, launched in 2004, supports high-performing students from low-income families, many of whom are first-generation college students.
"Carolina continues as a leader among public universities at meeting the full financial need of all undergraduate students who qualify for federal aid," said Chancellor Carol L. Folt. "We believe that all students should have the opportunity to go as far as their talents and hard work takes them. This initiative will help provide additional scholarship resources for our deserving students."