A new scholarship fund was launched to offer an opportunity to low and middle income students to earn bachelor’s degrees. The Washington Opportunity Scholarship program and endowment will receive a combined $50 million from Boeing and Microsoft over the next five years.

Washington will also contribute $50 million to the fund, which aims to raise about $1 billion in the next 10 years. The program consists of two new scholarship funds, which will offer immediate scholarships and long-term scholarship endowment. The immediate scholarships are expected to be offered from December 2011.

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