The No. 1 Red Cross Rest Home and the committee representing the subscribers presented a sum to the University of Melbourne to establish a fund. The fund was requested to be a bursary for the children of men who were members of the Australian Imperial Forces who have died or been totally incapacitated in the First World War. In 2000, the council recognised the bursary could no longer be awarded as originally intended and determined the bursary would be open to applications from any enrolled students.