Bank of America has established a new scholarship at UNC to help support military families.

The ‘Bank of America Military Families Scholarship Endowment Fund’ will provide scholarship support for military families through the University’s ‘Red, White and Carolina Blue Challenge‘ – which aims to raise a total of $40 million dollars in scholarship support for dependents of military families.

With this new fund, Bank of America is helping veterans and military-dependent family members get the aid they need to attend Carolina.   

Bank of America established the fund with a $250,000 dollar gift to UNC.

Bank of America’s gift counts toward the University’s ‘For All Kind: the Campaign for Carolina’, launched in October 2017. According to the university, as of June 2020, UNC has raised more than 76 percent of its overall goal to reach $4.25 billion dollars by December 2022.

This July, Bank of America is celebrating 100 years of supporting the nation’s military and their families.

 Kari Stoltz, the Triangle Market President for Bank of America, said supporting veterans, service members and their families is “an important component of who we are as a company.”

“We remain steadfast in our commitment to serving military personnel and their families who contribute so much to our company, the Triangle community and our country,” Stoltz said.

According to UNC’s press release, North Carolina is home to the nation’s fourth largest contingent of active duty service men and women, many of whom have dependents who want to go to college.

Programs like the Red, White and Carolina Blue Challenge allow UNC-Chapel Hill “to support academic excellence and create opportunity through scholarships for students who earn their place at Carolina, regardless of their ability to pay.”

In fall 2019, Carolina enrolled 398 undergraduate first-year and transfer students affiliated with the military, the large majority of whom were military dependents. Of those 398 students, more than half qualified for and received financial aid.

Photo courtesy of UNC Chapel Hill.

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