The university system said the program already helps 320 teachers in 48 mostly rural districts. With the grant, it would help another 850 first- and second-year teachers, expanding the program to the more urban Anchorage, Fairbanks, Mat-Su and Kenai districts.
The program aims to reduce teacher turnover and improve student achievement.
UA Foundation President Carla Beam said the private matching funds are a mix of cash and in-kind donations. She said contributions ranged in size from nearly $191 to $300,000.
She said the match was made by putting the $550,000 in new donations with previous unrestricted gifts from BP and Conoco Phillips.
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