The Park Foundation has given $50 million to North Carolina State University to start an endowment for the school's prestigious Park scholarships. The gift is the largest in university history.
Each year, 45 students from all academic disciplines are awarded full-ride scholarships. They also cover room and board, a computer, and offer lots of experiential learning opportunities. Chancellor Randy Woodson talks about what the endowment means to the school...
"This gift from the park foundation is hugely important to NC State," Woodson says. "It supports our best and brightest students. It helps us continue to be a leader in developing outstanding graduates that have great character, great academics and leadership skills."
Woodson says a commitment to public service is a big part of the Park Foundation's mission. Previously, the scholarships had been funded on an annual basis. With this endowment, its future will be secured.