Trustees’ Scholarships

Trustees’ Scholarships were announced in fall 2000 and inaugurated for the 2001–2 academic year. Students who scored 26 or above on the ACT test or who were in the top 10 percent of their class were eligible. The scholarships could be used at Knoxville, Martin, or Chattanooga and would renew if the student maintained at least a 3.0 average. Initial funds for the scholarships came from the credit card agreement with First USA Corporation that guaranteed UT $2.3 million for a five-year period. The Athletics Department announced, in January 2001, that it would provide funds of $1 million a year for 20 years to scholarships, with one of the beneficiaries of its funds being the Trustees’ Scholarships. A phase-out of the Trustees’ Scholarships began in 2006–7.