The announcement came during a gathering for family, friends and fans Monday afternoon at Woodlawn Roesch-Patton Memorial Park in Nashville, where a new monument was unveiled at Jones' graveside. Jones died April 26 at age 81.

"I am thrilled that we will be able to help people in the name of George Jones," Nancy said in a speech at the event. "George would have liked the fact that MTSU attracts so many first-generation college students, as well as students who face financial challenges. Like George, they are hard-working folks who are determined to make their dreams a reality."

Nancy said that she and George had discussed this scholarship idea before he passed. She also said that she will make the first donation to the fund.