Randy and Jenny Boyd, the University of Tennessee alumni, have made a gift of $1million to the Knoxville school. The donation will be used to fund three Tennessee students every year to earn bachelor's degree from the campus. Students, who complete the tnAchieves scholarship program, are eligible with the scholarship.
Randy, chairman and CEO of Radio Systems Corporation, currently serves as special adviser for higher education to Governor Bill Haslam. His gift is in compliance with Haslam's goal of increasing the percentage of Tennesseans with college degrees or professional certifications by 2025.
"We are excited to offer tnAchieves students the opportunity to transfer to become Volunteers. Furthering their education will open doors for them in the work world," Randy said in a statement. "Our hope is to make a difference in the lives of people who can then make a difference in our state."
Boyd is chair of the board for tnAchieves. The program, established in 2008, increases access to higher education opportunities for high school students. The program makes up for the shortfall the student experiences once he/she receives financial aid for their associate degrees. Through the assistance, more than 6,400 Tennessee students have enrolled in a postsecondary institution. Most of them are first-generation college students.
All tnAchieves students with associate's degrees will be automatically considered for the scholarship. Selected students will receive $2,500 per year for tuition and fees.
"The Boyds have long been great supporters of UT, and this latest effort underscores their commitment to helping Tennessee students reach their full potential," said Chancellor Jimmy G. Cheek. "We are proud to be leaders in helping the state reach its goals for a more educated population, and we appreciate the Boyds' dedication to our university and our state."