Magazine article University Business

Ground-Breaking Grant Programs for Low-Income Students: UNC and the City of Brotherly Love at the Vanguard

Magazine article University Business

Ground-Breaking Grant Programs for Low-Income Students: UNC and the City of Brotherly Love at the Vanguard

Article excerpt

Despite, or maybe because of, the still-struggling economy and the sluggish job market, both the University of North Carolina at Chapel Hill and the city of Philadelphia have announced separate grant programs that will ensure that qualified, low-income students get a shot at higher ed.

UNC Chancellor James Moeser announced the Carolina Covenant program in October, with the promise that low-income students who qualify to attend UNC will be allowed to--without borrowing a penny. The new initiative, which begins with the class of 2004, will be paid for with federal, state, and private grants and scholarships. The covenant is reported to be the first of its kind For a state institution, and is expected to cost $1.38 million annually when fully phased in, four years from now. An estimated 300 UNC freshmen should benefit from the program in the coming academic year. UNC defines "low income" as a student living at or below 150 percent of federal poverty level. A family of four with an annual income of $28,000 would qualify. …

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