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University of Arkansas at Little Rock undergraduate students can now apply for the first round of scholarships available from a $25 million donation given earlier this year.

The scholarships will be based on a student's "unmet" financial need, and can be used toward tuition, fees, books, housing or meal plans.

Incoming freshmen and incoming transfer students won't need to apply for the scholarship, so long as they apply for university admission by Aug. 1.

Current students can apply on the university's website,

To be eligible, a student must be an undergraduate, at least part-time and degree-seeking. They must also have a completed Free Application for Federal Student Aid on file.

The university announced the gift last month, its largest ever in its 93-year history.

Need-based scholarships will account for $15 million of the donation, and the scholarships will be distributed to students over a five-year period.

The other $10 million will go toward an endowed fund for the university's efforts to help students graduate.

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