Chancellor Holden Thorp proposed an increased focus on fundraising for financial aid in a meeting of the Faculty Council on Friday.
Charles Daye, chairman of the scholarships, awards and student aid committee, said even though other sources of financial aid have taken cuts, money collected privately by the University has become increasingly important for need-based scholarships and grants.
John McGowan, director of the Institute for the Arts and Humanities, also gave a report on the influence of technology on the humanities, creating a more research-based environment and altering the way libraries hold information.
In other updates, the undergraduate admissions advisory committee reported an increase in diversity of UNC applicants and claimed the University has the third-highest enrollment of underrepresented students among peer institutions.