Campbell University announced a gift of $700,000 from BB&T, a financial holding company that operates more than 1,400 branch offices in the Carolinas, Virginia, West Virginia, Kentucky, Florida, Georgia, Maryland, Tennessee, Alabama, Washington, D.C., and Indiana. The $700,000 commitment to Campbell will be used to create scholarships for students interested in majoring in business, trust and investment management, law or those receiving a Master of Business Administration degree. "These scholarships will be based on merit with a goal of attracting and retaining high performing students who might otherwise not attend Campbell," said John A. Allison, chairman and CEO of BB&T. "The scholarships will be annually renewable based on grades and/or other standards developed by Campbell. In theory, a student could receive a scholarship every year of his or her four-year term." "Campbell University is very grateful for the investment BB&T is making in the university through this magnificent scholarship program," said Campbell President Dr. Jerry M. Wallace. "Recruiting and retaining students are two of the most critical challenges facing any institution of higher learning. The establishment of the BB&T scholarship program will greatly advance the university's competitive edge in recruitment and retention."