In November 1967, in the aftermath of the previous summer's riots in Newark, New Jersey's newly-appointed Chancellor of Higher Education, Ralph A. Dungan, directed a memorandum to the presidents of all of the state's institutions of higher education. In it, he outlined a proposed program of special assistance to young men and women from economically and educationally disadvantaged backgrounds. The presidents' responses were immediate, widespread, and overwhelmingly favorable. Enthusiasm was particularly marked at those institutions that were participating in the federally supported Upward Bound Program, which sought to help high school students from disadvantaged backgrounds prepare for entry into college.
The following February, the Select Commission on Civil Disorders (the Lilly Commission, which was established in response to the events in Newark) made its report to Governor Richard Hughes, who subsequently submitted his Moral Recommitment message to the New Jersey State Legislature. The message called for the establishment of a broad range of programs to address the basic conditions the Commission had cited as contributing to the summer's unrest. Among those programs was the Educational Opportunity Fund, established by legislation sponsored by then—freshman legislator Thomas Kean.
More information can be found at: http://www.state.nj.us/highereducation/EOF/EOF_History.shtml