Interior transfers another $1 million to Cobell Scholarship Fund

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Oct. 1, 2014

For Immediate Release

Interior transfers another $1 million to Cobell Scholarship Fund

WASHINGTON—On Oct. 1, the U.S. Department of the Interior announced that an additional $1 million has been transferred to the Cobell Education Scholarship Fund, bringing the total transferred in 2014 to more than $4.5 million.

The Scholarship Fund was authorized by the historic Cobell Settlement and is funded in part by the Land Buy-Back Program for Tribal Nations and provides financial assistance through scholarships to American Indian and Alaska Native students wishing to pursue post-secondary education and training.

“The scholarships awarded through this fund will give Native American students the opportunity to pursue their educational dreams so that they can become full-fledged participants in charting the future course of Indian Country” said Interior Solicitor Hilary Tompkins, who played a key role in establishing the scholarship program.

“This investment in our next generation of tribal leaders will be a lasting, living legacy for Indian nations,” added Tompkins.

The American Indian College Fund administered the scholarship fund with 20 percent directed to the American Indian Graduate Center in Albuquerque, N.M.

More information about the Cobell Education Scholarship Program can be found at the American Indian College Fund website.

Interior makes quarterly transfers, up to $60 million total, from Buy-Back Program sales to the scholarship fund based on a formula that sets aside a certain amount of funding depending on the value of the fractionated interest sold. These contributions do not reduce the amount that an owner will receive for voluntarily consolidating their interests. 

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