The Texas Exes, the alumni association for The University of Texas at Austin, has announced the launch of a new scholarship program, the 40 Acres Scholars. The program will be the largest merit-based scholarship program on the university campus.
The 40 Acres Scholars Program will offer a comprehensive financial package to qualified undergraduate students. This package will include full four-year scholarships, including tuition, fees, books and living expenses; priority housing in honors residence halls; and funding for summer programs such as study abroad, public service and internships.
"This program will uniquely expand UT's role of 'changing people, who then change the world,' by identifying top scholars with leadership potential and creating a student experience unlike any other on campus," said Jim Boon, executive director of the Texas Exes.
The goal of the 40 Acres Scholars Program is to build an endowment of $150 million. Income from the endowment will support up to 75 students each year and create over time a steady group of about 300 students, making it one of the largest merit-based scholarship programs in the country. It will be the first program of its kind on the university campus and will enable the university to compete with the nation's best universities for top students. The Texas Exes Scholarship Foundation will manage the endowment and administer the program. The first scholarship will be awarded in 2011.
The Texas Exes scholarship program has grown to become the largest in the nation among alumni associations, awarding more than $2 million each year to about 700 students. The scholarships have been established by alumni and alumni groups, including Texas Exes chapters, and other friends of the university.
The Texas Exes, the alumni association for The University of Texas at Austin, was founded in 1885. The mission of the Texas Exes is to unite, inform and involve alumni and friends for the purpose of promoting, protecting and preserving the university. Today there are nearly 87,000 members whom the association strives to connect to each other and to the past, present and future of the university through career counseling, travel, reunions, continuing education, fellowship, legislative advocacy in support of higher education and The Alcalde magazine. For more information on Texas Exes or to become a member, visit www.TexasExes.org.