Scholarships Drop at North Carolina Art School
Many institutions of higher learning are experiencing large short falls in budgets, and endowments. This unfortunately has a negative effect on students, and their ability to afford to go to college. The University of North Carolina Arts School is seeing short fall of about 4 million dollars in endowment funds.
The amount of money available for scholarships at the University of North Carolina School of the Arts likely will drop by 50 percent next year as the value of the school's endowment has fallen, school officials said.
The Winston-Salem Journal reported that Ralph Womble, vice chairman of the school's board of trustees, said at a board meeting Thursday that the school would need $450,000 to bring the aid up to this year's level.
"The funds are just not there to give," Womble said. "It's going to be a tough year. ... This is something that has to be addressed."
Even with $300,000 that was raised this year, scholarship funding will still be lower than previous years. The school is hoping to fill in the gaps with private donations.
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