UA Little Rock Chancellor Christina Drale told the University of Arkansas Board of Trustees this morning that the campus had received a $25 million gift, the campus’ largest ever, from an anonymous donor to improve enrollment.
She said $15 million would be spent in the next five years for scholarships based on need, for any type of student in any area of study.
Another $10 million will go into a “student success endowment fund.”
I expect more details to follow.
But that’s some good news for a campus that has experienced declining enrollment and has had to pare faculty and programs to meet budget problems.
UPDATE: The university news release soon followed.
The University of Arkansas at Little Rock has received the largest single gift in the institution’s 93-year history, announced today at the May meeting of the Board of Trustees of the University of Arkansas. The $25 million gift from an anonymous donor will support the university’s strategic enrollment management plan and help UA Little Rock students achieve a world-class education.
“We have watched the rapid transformation of the institution under Dr. Drale and her team’s leadership. The purposeful, strategic approach to solidifying UA Little Rock’s unique and crucial role in the Arkansas educational system gives donors like me the confidence to invest,” said the donor who wishes to remain anonymous.
Fifteen million of the gift will be used to establish new need-based scholarships for undergraduate students over the next five years. Students at any level and in any major, either full-time or part-time, with financial need will be eligible immediately. Ten million of the gift is designated for a Student Success Endowment Fund that will expand and permanently support the University’s student retention and success initiatives.
“The University is focused on enhancing student success and producing more students who are prepared to meet the needs of our state and our communities,” said UA Little Rock Chancellor Dr. Christina S. Drale. “We have many students, and prospective students, who have considerable potential. With this amazing gift, we will be able not only to help more students get here, but to help them stay on the path to graduation and a rewarding career. I thank the donor for their support of our mission and their confidence in our ability to fulfill it. This is truly a transformational gift.”
UA Little Rock will announce additional details about the gift and how students will be able to pursue scholarships and services in the near future.