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Scholarship America raised more than $125 million to send the children of 9/11 to college. Clinton was part of an advertising blitz that guaranteed a college education to the children and spouses of everyone who was killed or disabled on Sept. 11,” as Clinton
vowed on the Larry King show in September 2002. ”
WILLIAM J. CLINTON, FORMER PRESIDENT OF THE UNITED STATES: Well, Larry, Bob and I decided to co-chair a campaign just shortly after September 11, about a month afterwards, so about 11 months ago, to try to raise enough money to guarantee a college education to the children and spouses of everyone who was killed or disabled on September the 11th.
And then we were told that it might take as much as $100 million to do that, because this fund will be operating for 25 or 30 years.
KING: This is for every child of the victim?CLINTON: Yes. And there were a lot of young women who lost their husbands, and they are pregnant at the time. SO this is going to go on a long time.
I think that this was a noble cause, but it isn’t turning out this way:
Yet the charity has refused or slashed aid to families that earn interest from their 9/11 Victim Compensation Fund payments, saying that’s taxable income that reduces their need.
The fund says its goal is to distribute all the money to 9/11 victims by the year 2030 - but will use leftover funds as it pleases for other college scholarships that are not 9/11-related.
Such policies trouble not just 9/11 families, but Clinton, who is seriously disturbed by the way the fund has operated.
“He’s adamantly against - and was never informed about or approved - the policy that interest earned from the Victim Compensation Fund be counted against the scholarships,” spokesman Ben Yarrow told The Post said Friday from Clinton’s Harlem office.
That policy “unfairly penalizes . . . people who tragically lost their loved ones” on 9/11, Clinton believes.
Hold on a second there:
KING: So everybody — Mr. President — everybody, when that child comes of age, gets a scholarship?
CLINTON: That’s right. And we determined, the people who administer the fund, determine the amount based on need. We’ve given 108 grants this year already, just in the last 11 months. The maximum grant is $28,000 a year for people that have no other resources that are going to expensive schools. The average grant is over $13,000 a year.
And even people with real resources who have suffered get a minimum of $1,000. SO…
Don’t tell us you are surprised today, when 5 years ago, you clearly stated the parimeters of the gifts.
Here is the background on the charity
What if there are funds left over?
Scholarship America firmly believes that all funds will be awarded to students and will adjust the percentage of need covered accordingly in order to distribute the entire amount through the year 2030. According to the Fund Declaration, the Board of Directors of Scholarship America may redirect any excess assets of the Fund to support other post-secondary education scholarship programs of Scholarship America on the good faith determination of at least two-thirds of the directors that the needs of the victims’ dependents have been met, or can with reasonable certainty be met with less than all of the assets of the Fund. In any event, any assets remaining in the Fund as of December 31, 2030, may be used by Scholarship America to support other post-secondary education scholarship programs for needy students.
Didn’t Bill O’Reilly try to warn people about the charities, but Hollywood told him to mind his own business? Looks like he really was looking out for you!
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