Marine Corps Scholarship Foundation The Marine Corps Scholarship Foundation is a privately funded , 501 ( c ) ( 3 ) non - profit organization that provides academic scholarships to children of United States Marines and Navy Corpsmen , with particular attention given to children whose parent was killed or wounded in combat , and those with demonstrated financial need . The Scholarship Foundation is the Nation ’ s oldest and largest provider of need - based scholarship to military children . Their funding is provided by private supporters , including individuals , corporations , and other nonprofit foundations . The organization ' s slogan is " " Honoring Marines by Educating Their Children " . " Work . Since its founding in 1962 , the Marine Corps Scholarship Foundation has provided more than 30 , 000 scholarships , valued at over $ 80 , 000 , 000 . For the 2013 - 2014 academic year , the Scholarship Foundation announced a record $ 6 , 600 , 000 in scholarships to 2 , 040 sons and daughters of U . S . Marines and Navy Corpsmen . The scholarships provide opportunities for students that cannot afford the full cost of higher education or vocational / technical training , while increasing their chances for success in their personal and professional lives . Scholarship recipients have Marine and Navy Corpsmen parents that are honorably discharged , active duty , retired , wounded in combat , and killed in action . The Scholarship Foundation reports that : • 89 % of their scholarship recipients attend 4 - year colleges or universities • 45 % are STEM ( Science , Technology , Engineering , and Math ) majors • 52 % are first - generation college students • 86 % of scholarship recipients that begin school graduate with a degree , compared to the national average of 40 % . In addeition , the Scholarship Foundation has been recognized by the Better Business Bureau for satisfying 20 out of 20 standards for charity accountability , transparency , and sound financial management . The Scholarship Foundation ' s awards are primarily need - based . Qualified applicants must be the child of a Marine or Navy Corpsmen , and their maximum family income must not exceed that of the current pay scale of a sergeant major . The average household income of 2013 scholarship recipients was approximately $ 52 , 306 . The Scholarship Foundation cites the mounting toll of the War on Terror , the rising costs of education , and the maturation of a new generation of Marines as an urgent call for increasing support . Scholarship applications increased by 81 % from 2006 to 2013 . To meet this increasing demand , and to plan for future generations , the Marine Corps Scholarship Foundation launched “ The American Patriots Campaign ” in 2007 . The American Patriots Campaign is led by the American Patriots Campaign Leadership Cabinet , composed of former Commandants of the Marine Corps and luminaries from the worlds of business , entertainment , and philanthropy . To date , this drive has raised $ 65 , 000 , 000 in funds , which will allow the Scholarship Foundation to develop a sustainable , diversified base of support to increase their scholarship capacity for the next generation of Marine and Navy Corpsmen families . Scholarship applications are accepted January – April annual via the Scholarship Foundation ’ s website . Origin . The Marine Corps Scholarship Foundation began by helping one child . In New York City in 1962 , a group of service - minded Marines , led by Brigadier General Martin F . Rockmore , learned that a Marine World War II Medal of Honor recipient could not afford to send his child to college . Concerned , General Rockmore and his peers organized a charity ball that December , which raised $ 1 , 500 ( 1962 dollars ) ; at the Ball , these funds were awarded as a scholarship to a single student . The annual charity ball , known as the New York Leatherneck Ball , continues to this day , and celebrated its 50th anniversary in 2012 . The original event has inspired numerous balls , galas , golf tournaments , and other fundraisers across the country . Today , the Scholarship Foundation , with the assistance of volunteers across the country , hosts more than 35 fundraising activities annually . Special Commitments . Through its “ Heroes Tribute for Children of the Fallen ” and “ Heroes Tribute for Children of the Wounded ” scholarship programs , the Scholarship Foundation has made special commitments to the sons and daughters of Marines and Navy Corpsmen whose parent has been killed or wounded in combat . In the 2012 - 2013 academic year , 97 students received “ Heroes Tribute for Children of the Wounded ” Scholarships . Leadership . The Chairman of the Scholarship Foundation ’ s Board of Directors is Lieutenant General Martin R . Steele USMC ( Ret . ) Margaret B . Davis has served as the President and CEO of the Scholarship Foundation since 2009 . Location . The Marine Corps Scholarship Foundation is located in Alexandria , Virginia .