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April 4, 2012 Volume 33, No. 26

UM System scholarship fund gets boost

The University of Missouri System will use $1.1 million received March 26 from the state to help students finance their university education.

The University, which got the windfall due to a surplus in Missouri lottery proceeds, will match the state money. That means about $2.2 million will go toward creating 56 endowments worth $40,000 each to create $2,000 scholarships for cash-strapped students.

The funds enable the UM System to “do even more to make the college dream a reality,” UM System President Tim Wolfe said.

“We understand the economic hardships many families face, especially when deciding to send their children to college,” he said. 

“These scholarships can help make access to college more affordable for high-need students.”

How the scholarship money will be apportioned to the four campuses has not yet been determined.