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UNC-Chapel Hill gets $1M to help low-income students attend

University of North Carolina at Chapel Hill UNC, Photo Date: 9/18/13 (Photo credit: UNC-Chapel Hill)

The country's oldest public university is collecting $1 million and plaudits for enrolling and graduating low-income students.

The University of North Carolina at Chapel Hill said Monday the money and honors come from the Jack Kent Cooke Foundation.

UNC-Chapel Hill Chancellor Carol Folt said the university plans to raise another $1 million from private donors and using the combined funds to further expand its help for low-income students. The school provides debt-free financial aid for the lowest-income students.

A Cooke Foundation study last year found only 3 percent of students at top U.S. colleges come from the poorest 25 percent of families.

The foundation is named for the former owner of the NFL Washington Redskins, who created it with the money generated from selling the team and other assets.

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