The Cobell Education Scholarship Fund (Scholarship Fund) was authorized by the Cobell Settlement Agreement (Cobell Settlement or Settlement) and is designed to provide financial assistance to American Indian and Alaska Native students wishing to pursue post-secondary education and training.
Based on a formula explained in the Cobell Settlement, the Buy-Back Program provided partial funding to the Scholarship Fund, capped at $60 million.
The Department of the Interior has reached the cap of $60 million in transfers. This does not affect the contributions that are made to the Scholarship Fund outside of the Program.
The Scholarship Fund is overseen by the Cobell Board of Trustees. It is administered by Indigenous Education, Inc., a non-profit corporation expressly created to administer the scholarship program. For more information, visit the Indigenous Education, Inc., website.