Walton foundation gives $10M to University of the Ozarks

CLARKSVILLE, Ark. (AP) - The University of the Ozarks has received $10 million from the Walton Family Foundation to fund scholarships for students.

The gift announced Monday will create an endowment for the Frontier Scholarship Program, which will benefit students from low- and middle-income families. School leaders say the program will ensure that a college education is attainable for students of all income levels.

The Walton Family Foundation is run by the heirs of Wal-Mart founder Sam Walton. Walton’s late wife, Helen Walton, was a former chairwoman of the board of trustees for the University of the Ozarks, which is located in Clarksville.

The university says its fall enrollment is 686 students, up 5.4 percent from a year ago.