The Cobell Education Scholarship Fund (Scholarship Fund) was authorized by the Cobell Settlement and is designed to provide financial assistance to American Indian and Alaska Native students wishing to pursue post-secondary education and training.
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.
Based on a formula explained in the Settlement, the Land Buy-Back Program for Tribal Nations (Buy-Back Program) provided partial funding to the Scholarship Fund, capped at $60 million.
As of April 2017, the Department of the Interior has reached the cap of $60 million in transfers to the Scholarship Fund. This does not affect the contributions that are made to the Scholarship Fund outside of the Buy-Back Program.