The University of Tennessee has initiated a new scholarship program attempting to keep Tennessee's top high school graduates from attending out-of-state colleges and universities.
The Trustee Scholarship program, which was announced last week, awards a $1,000 scholarship to Tennessee students who graduate in the top 10 percent of their high school classes, receive high grade point averages or score very well on college entrance exams.
Similar programs have been enacted in Georgia and Texas.
"We're focused on keeping the best and brightest Tennesseans in state," said University of Tennessee President J. Wade Gilley.
Gilley said the scholarship could help keep the university from losing top in-state students to schools such as UNC or the University of Florida.
The scholarships will be available next fall to incoming freshmen at the three UT campuses - Knoxville, Chattanooga and Martin.
The scholarships also are available to students with a 3.5 GPA or who scored 26 or above on the American College Testing exam. Students must maintain a 3.25 GPA for the award to be renewed.
The program will be funded for five years with money from UT's licensing agreement with a local bank. The contract is worth $2.3 million per year.
Dr. Katherine High, UT vice president and chief of staff, said decisions on funding the program after five years will be based on incoming student numbers.