The Committee will establish a fund to support veterans who served honorably on active duty or in an active status during the era of the Operation Enduring Freedom (Afghanistan) and all phase of Operation Iraqi Freedom (Iraq). The goal is to provide assistance to those who need financial support to complete their educations. This fund will also provide assistance to eligible military family members and active duty military persons. 

Given the hard evidence presented, the gap between benefits from the GI Bill and the general cost of a community college education is significant. The Committee seeks to establish an immediate fund to address direct needs during the 2008 spring and fall semesters with minimum grants of $2,000. 

While establishing this direct scholarship pool of $200,000, the Committee also has set a $5M goal for an endowment. We expect that the investment return on the endowed funds will be sufficient to support the scholarship program on an ongoing basis and long after the current hostilities have ceased.

The Committee will operate as an Auxiliary of the Palomar College Foundation, which is a well established 501 (c) 3 functioning within the guidelines of federal and state non-profit regulations. The proceeds contributed to the “Education for Heroes Fund” will be recorded as a restricted program account within the Foundation Profit and Loss statements. Funds will be invested through the Foundation’s endowment. Reports will be reviewed by auxiliary members and the Foundations Finance Committee at quarterly meetings. Reports will be made available to the general public.