NC arts school: Scholarships to drop by 50 percent

WINSTON-SALEM -- Officials at the UNC School of the Arts in Winston-Salem say they expect the amount of money available for scholarships to drop by 50 percent next year. The Winston-Salem Journal reported that the vice chairman of the school's board of trustees said the school would need $450,000 to bring the aid up to this year's level. Vice chairman Ralph Womble spoke at a board meeting Thursday. Officials said the school's endowment fell from $17 million in June to $13 million in December. The school brought in at least $300,000 in fund raising; otherwise, officials said the amount of money available for scholarships would be even lower. (Copyright 2009 by The Associated Press. All Rights Reserved.)