UK Athletics to Contribute $3 Million to Academic Scholarships
LEXINGTON, Ky. (June 19, 2012) ― University of Kentucky President Eli Capilouto and Athletics Director Mitch Barnhart announced Tuesday at a meeting of the UK Board of Trustees Athletics Committee that the Athletics Department will increase the contribution it makes to academic scholarships to a total of $3 million for the 2012-13 academic year.
This represents an increase of $1.3 million from the $1.7 million annually that UK Athletics has been contributing for the past several years for academic scholarships at the university.
UK Athletics, which is one of the few athletics programs in the country to not receive state General Fund support for its programming, donates millions of dollars back to the university for academic use and programming. For the last several years, a cornerstone of those efforts has been $1.7 million annually for academic scholarships, which includes the Singletary Scholarship program, the university's most prestigious award. In 2012-13, the number of incoming freshmen being awarded Singletary Scholarships is a record 51 students, up from 34 in 2011-12.
The more than 75 percent increase in the amount of scholarship funding provided by UK Athletics for 2012-13 will enhance the university's general scholarship fund.
"We are proud to be able to make this substantial increase in the amount of dollars contributed for the benefit of the academic side of the university, most especially in helping students with greater scholarship opportunities," said Mitch Barnhart, UK Athletics Director. "While this increase is targeted for additional scholarships for a four-year period, our goal is to continue to support the university's academic mission as long as our budget will sustain it."
UK President Eli Capilouto added, "We are fortunate to have an athletics program that is self-sustaining -- one of the few in the country -- and that makes a concerted effort to contribute to the academic life of the institution. Thanks to that financial strength and commitment, we are able to help many additional students make their UK education more affordable."
MEDIA CONTACT: Carl Nathe, (859) 257-3200 or carl.nathe@uky.edu