In a symbolic way of acknowledging Memorial Day, the University of Memphis announced this week that they would soon be offering free tuition to the children and spouses of fallen service members.

The university will be waiving the tuition for any Tennessee residents 24 years or younger who qualify for the Folds of Honor scholarship.

The Folds of Honor scholarship currently contributes $5,000 towards the education of their recipients. Folds of Honor organizers say that they have been looking for universities to accept the scholarship as payment-in-full for some time, and while some schools have expressed interest, none have actually followed through – except for the University of Memphis.

This makes the Tennessee school the first in the country to accept the scholarship as full tuition for its students.

Though the details have not yet been signed, the initiative will go into full effect in the fall.

"This sacrifice is remarkable and we need to recognize that," University President David Rudd reportedly told the board. "Our commitment is to cover any gap that exists as a result and to relieve them of that burden."

The scholarship will cover the school's average yearly tuition of $9,700. If students qualify for additional scholarships, then the school will help to cover the expenses of textbooks, room and board.

Be Sure And Share The Groundbreaking Good News With Your Friends – U.S. Army photo by Sgt. Aaron Berogan