The housing corporation for a former University of New Orleans fraternity chapter has donated $112,000 - originally raised to buy a fraternity house - for a student scholarship at the University. With the gift, the Phi Kappa Theta New Orleans Building Association will establish the Phi Kappa Theta Legacy Endowed Scholarship, which will support the educational needs of UNO students.

Phi Kappa Theta, which operated as a chapter at the University of New Orleans from 1964 until 2008, had raised money in order to acquire a fraternity house. When it disbanded, the Phi Kappa Theta New Orleans Building Association and the alumni of the chapter elected to use the funds to endow a scholarship at the University. The endowment is likely to provide an annual scholarship of approximately $4,000, and the amount will increase as the endowment grows.

The scholarship will be available to full-time UNO students; it can be renewed for up to four years if the recipient maintains a minimum 2.5 grade point average. Students pursuing a degree in any academic discipline are eligible for the scholarship.