Frequently Asked Questions
Why is it called "Memorial (not dead yet)"?
We were discussing what to do with our money when we die. Ruth suggested a scholarship fund for our family in addition to other charities. As we discussed it more we decided there was no reason to wait for us to die before anyone can benefit, so we opted to start our scholarship fund now – while we're alive and we can see it do some good.
Where did you get the money to do this?
Matt worked for a startup which was acquired by Twitter in 2008. In 2011 Matt left Twitter to spend more time with Brian and sold some of his Twitter stock. That windfall provided the initial funding for the scholarship fund.
Why use the annual gift tax exclusion amount?
While the gift tax might not apply, using this number provided a cost-of-living adjusted value for the future. The scholarship makes an effort to use standard metrics like this wherever possible. This means that the scholarship does not need to spend money on determining the correct amount and can instead spend that money sending people to college. While Ruth and Matt are alive they may change this criteria if it turns out to be unsuccessful but this was chosen as a flexible value should they die.
Who is eligible for the money?
The extended family of Ruth and Matt Sanford who are just getting started out in life. That is the spirit of the eligibility requirements but the specifics are included below. To be eligible you must meet all of the following:
- Descendants of Matt and Rosalie Adams or Forest and Esther Heller (pictured below). This includes any natural born children, adopted children, and step-children assuming the marriage hasn't ended in divorce.
- Beginning school under 25 years old. For example: If you were to start school at 25 years old you would be eligible for the full four consecutive years, assuming you were enrolled each calendar year, thus providing money until you were 28 (years where you're 25, 26, 27 and 28).
- Enrolled in any accredited school as a student. Check savingforcollege.com for the list of schools. The scholarship uses the same criteria as the federal 529 plans.
Are there any other restrictions?
Standards based criteria form the core of the scholarship requirements. However, there are some circumstances that will be handled on a case-by-case basis.
- The scholarship can be claimed each year for up to four consecutive years. Nonconsecutive years may be allowed at the discretion of the scholarship administrator.
- The scholarship administrator may deny any application or ask for more information if they suspect there is abuse of the scholarship.
Will there be money for me?
We certainly hope so. The finances of the scholarship are not public but given the initial investment and the number of eligible candidates there is expected to be enough money for years to come.
What can I use the money for?
Anything. The scholarship does not track how the money is used or ask for receipts. Pizza, beer, and ramen are all valid college expenses.
How do I sign up?
Just send an email to scholarship@mzsanford.com. You’ll need to include your full legal name, date of birth, the school you’re enrolled at, proof of enrollment (e.g. a screenshot of your schedule), and your relationship to Matt & Rosalie or Forest & Esther.