FAYETTEVILLE, Ark. — The University of Arkansas announced a three-year, $200 million fundraising campaign to support its new Land of Opportunity Scholarship. The scholarship is intended to bridge the gap and open resources to academically successful Arkansans in all 75 counties with financial need.
"The Land of Opportunity Scholarship will better ensure that deserving Arkansas students have the support necessary to achieve their academic goals and live the American Dream," Chancellor Charles Robinson said.
On Tuesday, the university held an announcement ceremony at the Jim and Joyce Faulkner Performance Arts Center to mark the launch of the new scholarship.
Radio personality Bobby Bones, who pledged $10,000 to the cause, helped host the event.
"If it weren't for people helping me, there's no chance that I would be here today," Bones said at the announcement ceremony.
Alumni and other supporters have already pledged over $122 million. Of that sum, Jane and Bryan Hunt gifted $100 million on behalf of the J.B. and Johnelle Hunt family.
"After graduating from the University of Arkansas, I began my teaching career in the Arkansas Delta, and I have been committed to helping Arkansans break the cycle of poverty by attaining a college degree. We know that removing financial barriers is a pathway to graduation and career success," Jane said. "When you earn a degree from a university, you’re on your way. Arkansas was the Land of Opportunity for my dad. Supporting this effort is exactly what we should be doing and we are proud to be a part of it."
Not only is the program intended to financially support eligible students, but it will also give them the tools to thrive academically. According to the U of A, there's an 18-point graduation rate gap between Pell-grant eligible students and students who already have financial resources to pay for their education.
"We're not saying we're just going to leave it to the students to figure it out," Robinson said. "We figured out that financial barriers are such that we have to address them to better ensure that more students from poorer backgrounds have an opportunity to come here, get the skills developed, graduate, and go out and be productive citizens."
To bridge this gap, the U of A says student success support will be available to Land of Opportunity scholars. This entails mentorships, academic coaching, financial planning, and career readiness programs. The program will also empower students to engage in high-impact educational practices, including internship programs with Arkansas-based companies.
The application process for the Land of Opportunity Scholarship will begin during the 2025-26 academic year. The first cohort of scholars will begin the fall 2026 semester. Robinson said the university expects to have 100 Land of Opportunity scholars in the first cohort.
Watch 5NEWS on YouTube.
Download the 5NEWS app on your smartphone:
Stream 5NEWS 24/7 on the 5+ app: How to watch the 5+ app on your streaming device
To report a typo or grammatical error, please email KFSMDigitalTeam@tegna.com and detail which story you're referring to.