The South Carolina athletics department will give $15 million over the next 15 years to the university, earmarked primarily for need-based student scholarships.

Announced by Athletics Director Eric Hyman and President Harris Pastides, the agreement will help alleviate severe budget cuts due to reductions in state budget allocations for higher education.

The money will come from the school’s allotment of funds from the new broadcast contracts between the Southeastern Conference and ESPN/CBS.  In addition to the scholarship increases, the money is expected to assist graduate students in meeting their health-insurance premiums and resident students who suffer severe family circumstances such as loss of employment.

“The athletics department's financial support, which will allow the university to enhance scholarship and other academic programs for students and address other institutional needs, demonstrates clearly the department's commitment to blending seamlessly into the life and mission of our institution,” President Pastides said. “I appreciate Eric Hyman's support and his leadership of Carolina athletics.”

South Carolina law requires athletics departments to be self-supporting. Hyman said the commitment from athletics to support the institution will help to maintain the school’s reputation.

“All of us want Carolina to remain a strong flagship university, because every department, including athletics, benefits,” Hyman said.