UNC Chapel Hill added $465,000 to the pool of money available for student financial aid, according to an article in The Triangle Business Journal.

The University saw a 17% increase in financial aid applications this academic year and a 23% increase in students who qualify for financial aid. 

What is left to be determined is how the school will handle awarding financial aid next year. It's possible that the school will have to decrease the average institutional grant awards (the free money) per student. 

To read more:

http://triangle.bizjournals.com/triangle/stories/2009/09/21/daily65.html