UNC-Chapel Hill Gets $100 Million For Scholarships

 UNC Tarheels

The most prestigious scholarship program at the University of North Carolina at Chapel Hill is getting a new name thanks to a huge donation. School officials say the widow of a Texas oil executive donated 100 million dollars to expand the school's Morehead Scholarship. The gift from Mary Cain will allow the university to nearly double the size of the scholarship program, which will now carry the name Morehead-Cain Scholarship. The foundation that oversees the program will change its name to the Morehead-Cain Foundation. The four-year scholarship was established in 1951. It includes an annual stipend that covers all tuition, fees, and other typical college costs. It's valued at 80-thousand dollars for in-state residents and 140-thousand dollars for out-of-state residents. Freshmen scholars receive laptop computers. Cain's husband helped start Petro-Tex Chemical, now Texas Petro-chemicals of Houston. Gordon Cain died in 2002 at age 90.