Longtime philanthropists give UGA $5 million to start scholarship program

A.D. "Pete" Correll
A.D. "Pete" Correll

The University of Georgia announced Thursday it has received a $5 million gift that will be used to start a scholarship for students with significant financial need.

The gift is from prominent Georgia businessman and philanthropist A.D. “Pete” Correll and his wife, Ada Lee, both UGA graduates. The Correll Scholars Program will offer annual $7,000 scholarships to two dozen students starting the fall 2018 semester.

Six students in their first, second, third and fourth years at UGA will be selected, the university said in a news release. UGA’s Office of Student Financial Aid will select the recipients, giving preference to students in need pursuing degrees in the Terry College of Business or the College of Education.

Pete graduated from the Terry College while Ada graduated from the College of Education.

UGA will also use the funds for student mentorship, internships, study abroad programs and faculty-mentored research. Additionally, UGA will use some of the money for a four-week, early start program to help first-year students transition to the campus. The UGA Foundation will contribute $500,000 towards the Correll Scholars Program.