Florida Family Endow Scholarships at Ole Miss

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A Florida couple will endow five leadership scholarships at the University of Mississippi, adding to the school's selection of merit scholarships.

Venture capitalist Roe Stamps and his wife Penny will cover half the cost of five scholarships each year beginning in fall 2013.

Students with strong academic leadership and service records can apply for the awards, worth between $98,000 and $138,000 over four years.

The university will initially pay half the cost of the scholarships, but will seek private funds to cover those costs. University officials hope to increase the number of Stamps scholarships to 10 a year.

Ole Miss joins 28 other colleges where the Stamps, Miami residents, endow scholarships.

Ole Miss made a proposal to join the program. The family had no previous connection to the school.