Chancellor James Moeser said last week that the $800,000, which will be paid in 8 yearly installments of $100,000, will be used to benefit undergraduate education. UNC entered into an 8-year contract with Nike last week. The contract -- valued at $28.34 million -- the largest collegiate deal of its kind.
Risa Palm, dean of the College of Arts and Sciences, said the money will be used to fund additional first-year seminars and research opportunities for undergraduate students.
Palm said she and other faculty members are thrilled with this influx of money and that first-year seminars serve as a valuable resource for first-year students who often take large, impersonal lecture courses.
"The reason for first-year seminars is to give as many first-year students as possible a chance to be in a class of 20 or less with a senior faculty member," Palm said.
Sarah Shields, director of first-year seminars, said the seminars, which have been offered for three years, are unable to meet student demand because many departments are understaffed. She said the new funds will help solve this problem.
Palm also said the money will help fill this void. "By putting money into the first-year seminars we are able to get more faculty and free up faculty to teach these seminars," she said.
Shields said the seminars are beneficial for both the students and professors.
"Faculty love it because students are engaged in the topic," she said. "Students get a chance to take part in what we call active learning."
Shields said she would like to see the money used to fund seminars that are related to the source of the money.