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.
In 1996, banker Elouise Cobell became the lead plaintiff in a class action suit, demanding back payment and better accounting on Individual Indian Money Accounts managed by the Bureau of Indian Affairs. Thirteen years later, the federal government settled for $3.4 billion, the largest settlement in U.S. history.
