On September 11, 2001, Georgetown lost Joseph P. Shea, B'76 in the World Trade Center tragedy. Memorial gifts created a permanent endowment to support a need-based scholarship in his name.

The scholarship would be awarded to a student whose family was affected by the World Trade Center tragedy. The student must exhibit financial aid need to receive the award, which would be used to buy out the work-study and/or loan portion of the financial aid package of the student.