Bill Gates has announced that his foundation will donate $1 billion over the next 20 years to establish the Gates Millennium Scholars Program.

The program, which begins in the fall of 2000, will provide 1,000 new students each year with scholarships for undergraduate and graduate study. Support is available for advanced degrees in math, science, engineering, education, and library science. Awards will be renewed annually and recipients are expected to maintain a cumulative grade-point average of 3.0 or better.