<p>Meanwhile our neighbors to the south recognize the benefit of attracting top talent to their state (and keeping talent in their state) by significantly expanding their merit scholarship program and by granting instate tuition to all full-scholarship winners to make their state universities’ merit funds go further.</p>
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$100 million to fund scholarships
<p>CHAPEL HILL - A Texas chemical magnate’s fortune could soon be sending UNC-Chapel Hill’s top scholars on summer trips to China or India. </p>
<p>A $100 million gift announced Thursday will increase the possibilities for students who benefit from the prestigious Morehead scholarship program. The scholarships have supported more than 2,600 students at UNC-Chapel Hill since 1951. </p>
<p>The new money could be used to expand the offerings to include in-depth programs in Asia or to offer scholars a gap year between high school and college to grow outside the classroom, among other possibilities, Chatham said. </p>
<p>The scholarship is valued at $80,000 for in-state students and $140,000 for out-of-state students. </p>
<p>Rising tuition since 2000 led the Morehead Foundation to cut the number of scholarships it awarded in recent years. The foundation also turned to fundraising to boost its investment fund. </p>
<p>75 awards a year </p>
<p>A controversial law the state legislature passed in 2005 reclassified full scholarship recipients as in-state students for tuition purposes. The state now covers the funding gap for out-of-state athletes and scholarship winners, saving millions of dollars for foundations and athletic departments across the UNC system. As a result, the number of coveted Morehead Scholarships has increased to about 50 a year. </p>
<p>This endowment gift will bring that number up to 75 in a few years, meeting the foundation’s goal of providing scholarships for 2 percent of the freshman class.
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<p><a href=“http://www.newsobserver.com/102/story/543843.html[/url] ”>http://www.newsobserver.com/102/story/543843.html</a></p> ;