Colts owner Jim Irsay gave $25,000 to create the scholarship, which was announced Monday.

"Edwin was such a wonderful young man and was beloved by his family and friends across the country, especially by his Colts family here in Indianapolis," Irsay said in a statement. "We are all better people for having known him, and we already miss him so much.

"This scholarship will honor Edwin's memory and his determination, work ethic, and character. My family and the entire Colts organization are proud to have been associated with Edwin, and we are honored to help continue his legacy in the future."

The scholarship will be given annually to qualified students who apply for it. The Colts are accepting tax-deductible donations for the scholarship on their website.

Jackson and ride-share operator Jeffrey Monroe were on the side of Interstate 70 in Indianapolis early on Feb. 4 when Monroe got out of the car to help Jackson, who was sick. Manuel Orrego-Savala drove onto the emergency shoulder and hit the rear of the car, striking both Jackson and Monroe, with one of the bodies landing in the center lane of I-70.

Jackson and Monroe were both pronounced dead at the scene. Orrego-Savala was charged with four felony counts last week.

A funeral for Jackson was held Monday in Atlanta, where members of the Colts organization, including general manager Chris Ballard and former coach Chuck Pagano, were in attendance.

It was announced last week that Irsay planned to pay the funeral expenses for Jackson and Monroe.

"Our thoughts and prayers go out to Jeffrey's family and friends during these difficult days," Irsay said in Monday's statement. "Although we didn't know Jeffrey, we've heard nothing but extraordinary things about him, and we are just as heartbroken for his loved ones. May both Edwin and Jeffrey rest in peace."