The money raised Saturday will be matched dollar-for-dollar by the Lumina Foundation for Education -- an Indianapolis-based group that works to improve access to higher education.
As a result, about $15,000 in higher education scholarships will go to the Families of Freedom Scholarship Fund, which is designed to aid children who lost parents in the Sept. 11 attacks.
The fund was established Sept. 17 as a joint effort between the Minneapolis-based Citizens Scholarship Foundation of America and the Lumina Foundation.
UNC is the first university to raise money for the endowment, but organizers expect others to follow suit.
Saturday's fund drive is one product of Chancellor James Moeser's Disaster Response Task Force, which first met Sept. 17.
The task force quickly organized volunteers to man about 30 posts around the stadium for Saturday's matchup, hoping to catch the eye of the more than 53,000 fans in attendance.
"Our goal was to get the people who haven't yet donated money and still wished to," said Maneesha Agarwal, a task force member and Campus Y's special projects coordinator for the terrorist attacks.
Although the drive was publicized in a press release Thursday, most donors said they found out about the drive from volunteers, who donned T-shirts displaying red, white and blue Tar Heels.
"They caught my eye," said Bryant Ray, a high school senior from Clemmons. Ray said he also has given to drives at his school and church.