Established by industrialist N.S. Jagannathan, the scholarships were first awarded for the 1996-1997 academic year. The Jagannathan Scholarship program is administered by the North Carolina State Education Assistance Authority.
Applicant must meet the following eligibility requirements:
- Be a graduating senior planning to enroll as college freshmen in a full-time degree program at one of the constituent institutions of the University of North Carolina system
- Be a resident of North Carolina for tuition purposes
- Have demonstrated academic achievement (as indicated by class rank, cumulative GPA, and SAT scores), leadership, and financial need