I found another link which validates the $20K per year amount
President’s Scholarship
This award provides talented prospective freshmen with scholarship support for eight consecutive undergraduate semesters. Up to $20,000 per year is offered to incoming freshmen. Students are selected through the admission process, with primary consideration given to academic achievement, extracurricular activities, awards, honors, recommendations, and the essay. For full consideration, students must submit a completed application for admission and all required application materials by the November 1 early action deadline. Learn more by visiting the Office of Undergraduate Admissions Freshman Merit Scholarships page.