The announcement came on the eve of Rutgers' first game since the injury, a noon kickoff Saturday at Pittsburgh.
"We've spent quite a bit of time, really around the clock in the last week doing everything we can do to support the LeGrand family, and to support Eric LeGrand as he gets into his recovery from his injury that he suffered," Rutgers athletic director Tim Pernetti said. "We have been overwhelmed by the support that we've felt from so many entities, and today we were happy to be able to assist the family with the announcement of the Eric LeGrand Relief Fund to support Eric in his recovery, as well as his family.
"This is a situation where the entire world of people that want to support Eric LeGrand in his recovery will be able to do so."
Pernetti did not provide an update on LeGrand's condition, but he did visit the former Colonia (N.J.) High star at Hackensack Medical Center earlier in the day.
"I don't have any update on Eric's condition," Pernetti said. "I was with Eric today at the hospital. I did visit with him for a while. He was in good spirits. We had a conversation about the game this weekend, and he was in good spirits, upbeat, but I don't have an update on his condition."
The trust will allow the LeGrand's to use the money in ways they see fit to aid in his recovery and care in the future.
"In this case, because it's a trust, it really is at the discretion of the family as far as I understand," Pernetti said. "Again, it's an arrangement between the bank and the family."
Rutgers will honor LeGrand at its next home game (Nov. 13 vs. Syracuse), but Pernetti said details are yet to be finalized.
"We've been so pleasantly overwhelmed with support for Eric and the university that there's obviously a lot of good ideas out there, some of which are already being executed by outside entities,'' he said. "When the time is right, as things start to be developed and decided upon, we'll make sure to let (the media) know. But there will be some things done."
He also said future fundraising could incorporate the ability to donate via text messaging and paypal, but that has not been worked out.
Contributions to the fund are not tax deductible and can be made by sending a check payable to the "Eric LeGrand Believe Fund" to:
"Eric LeGrand Believe Fund"
PNC Wealth Management
Attn: Kimberly G. Kingsland, Senior Trust Advisor
One Palmer Square Suite 201
Princeton, NJ 08542