Virginia Tech said it will be distributing funds from its Hokie Spirit Memorial Funds to the families of students killed or injured in the shootings of April 16, 2007. The school has hired Kenneth R. Feinberg to administer the allocation of the money from the Hokie Fund.
Feinberg served as "Special Master" of the federal Sept. 11 Compensation Fund, and will handle the Virginia Tech disbursement on a "pro bono" basis.
Following the Virginia Tech tragedy, concerned people just spontaneously began making contributions to what was later to become the Hokie Spirit Memorial Funds. There are 34 funds under that umbrella, including 32 named funds--one for each victim. There is also a general scholarship fund and a memorial fund.
Altogether, the funds add up to more than $7 million. While donations are continuing, the school officially closed the Hokie Fund in August. Payments to the families are expected to be completed in the fall.
In a statement, Virginia Tech's president, Charles Steger, said, "It is very important for us to seek input from families of victims and the surviving victims about distribution of the funds. ... They have experienced extraordinary loss and emotional trauma and deserve the most support."
READ MORE: Features | Special Reports | Industry Risk Reports | Columnists | In-Depth Series
September 1, 2007
Copyright 2007© LRP Publications