Joe Barton: “This $3 million one-time grant will help start the permanently endowed scholarship fund. Texas A&M is going to raise…”

“This $3 million one-time grant will help start the permanently endowed scholarship fund. Texas A&M is going to raise privately $25 million to permanently endow this scholarship fund. But this $3 million will be the first of the funds for the first class of fellows that are going to begin next year. Of the $3 million, less than $100,000 will be used over the life of the program for administrative expenses. Over $2.9 million will go to fund as many as 200 scholarships. So this is truly, as the gentleman from Pennsylvania said, a living memorial to a former President.”