When UNC sophomore psychology major Hailey Glover applied to college, she knew she would have to depend on scholarships and financial aid to fund her education.
She grew up with a disabled single mom and was unable to cover the cost of a college education.
The Carolina Covenant scholarship gave her the resources she needed to attend UNC, her first-choice school, without taking out loans — but as UNC’s peer institutions grapple with budget cuts, similar programs are suffering.
Starting next academic year, some low-income students at the University of Virginia will need to take out $3,500 in loans as part of their annual financial aid packages after the AccessUVa program — a formerly loan-free scholarship program similar to Carolina Covenant — was scaled back in August.
The loans are capped at $14,000 for in-state students and $28,000 for out-of-state students, said McGregor McCance, a spokesman for UVa.
UVa. leaders approved the cut last year in order to put the program on a more sustainable path after costs ballooned from $11 million to more than $40 million, McCance said.
Though the Carolina Covenant program supports more than 2,000 undergraduates, its future remains stable, said Shirley Ort, the scholarship’s founder and director of UNC’s Office of Scholarships and Student Aid.
“It is about institutional priorities and, thus far, continuing the program as is is a priority at Carolina,” Ort said.
“The program is a celebration of talent, no matter where it comes from.”
