UConn has created a memorial scholarship fund to help the students of Sandy Hook Elementary School who survived Friday's tragedy.

The Sandy Hook School Memorial Fund at the University of Connecticut will provide financial aid for any students who currently go to the school, as well as siblings of those killed and dependents of teachers and the other adults who lost their lives protecting those students. The scholarships will be available to those who are accepted to UConn when the time comes for them to apply.

"It is not easy to conceive of the most heartfelt and respectful way to respond in the wake of such a shattering event," UConn president Susan Herbst said in a statement. "Yet Newtown is in our own state and many of our students and alumni have ties to those who are affected directly."

Geno Auriemma and his wife made the first donation of $80,000 to start the fund.

"Over this past difficult weekend, Kathy and I gave much consideration to what we as a family could do that would have some significance for the future," Auriemma said. " Because UConn is so important to us, we decided to establish a scholarship and encourage other UConn alumni and fans around the world to invest in the future of the Sandy Hook survivors."

All of the money donated will be spent directly on the scholarships for the children. Any funds that remain once the needs of the group have been met, they will be used to benefit any future students from Newtown who attend UConn, according to the university.

Funds will be immediately available for siblings and dependents of those who died, to provide them with scholarship assistance as needed, according to UConn.

For more information on how to donate, visit the University of Connecticut website or the UConn Foundation website.