A scholarship fund to help students earn undergraduate degrees in four years and be debt-free at the end of it has received a $2 million commitment from the Helios Education Foundation.

The Arizona Assurance scholarship program at the University of Arizona receiving the money is a public-private funded financial aid program.

The inaugural class of about 600 Arizona Assurance scholars just ended its second semester at the UA. The program covers college costs – including tuition, books, and room and board – for in-state students from families with an adjusted gross income $42,400 or less per year.

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The Helios funding will support the current inaugural class of students during their sophomore year and the incoming freshman class for the 2009-2010 academic year.