FAQ Veterans Statements
What is the Veterans Education Challenge?
The Veterans Education Challenge is dedicated to providing need-based scholarships to United States Military veterans that the GI Bill does not cover. This program includes a matching component, whereby every dollar raised by the general public will be matched up to $1 million.
Who is matching the money raised through the Veterans Education Challenge?
Bruce and Avis Richards have committed to matching up to $1 million raised by the general public. Mr. Richards is the Chief Executive Officer of Marathon Asset Management, a New York-based Hedge Fund, and Mrs. Richards is the founder of Birds Nest Foundation, a 501(c)(3) organization.
Which universities will be eligible to receive grants to provide these scholarships?
Accredited four year universities participating in the U.S. Department of Veterans Affairs Yellow Ribbon Program (http://www.benefits.va.gov/GIBILL/yellow_ribbon.asp) are eligible beneficiaries of this program. A funding committee established by Birds Nest Foundation will select universities within the eligible universe.
Can I designate a university of my choice?
Donations of less than $5,000 will be disbursed to universities selected by the Birds Nest Foundation funding committee. If you are making a donation of $5,000 or greater, you may designate a specific university meeting the criteria described above.
What qualifications must a veteran possess in order to become a beneficiary of this program?
In order for veterans to be eligible beneficiaries of this program, he/she must have served at least 36 months of active duty in the U.S. Military from 9/11/01 onward; he/she must be in good standing with his/her respective branch of the U.S. Military; and he/she must be eligible for entitlement under the GI Bill (http://www.benefits.va.gov/gibill/)
Who decides which eligible veterans receive benefits under the Veterans Education Challenge?
Universities receiving funds through the Veterans Education Challenge have complete discretion as to the disbursement of funds among the university’s eligible student veteran population. If, for example, $5,000 is donated to a specific university, the university determines which students receive the donation and in what amount, based upon standards and criteria the university has put in place.
When can I make a donation?
Donations are being received now (https://www.crowdrise.com/veteranseducationchallenge) and the disbursement of funds to eligible universities will begin in early 2016.
How much of my donation will go toward veteran scholarships?
100% of your donation will be applied toward veteran scholarships.