The Berkeley Student Foundation was formed in response to the enactment of Proposition 209 by the electorate in California in 1997, which effectively ended consideration of race and ethnicity in determining admission to any public university in the state. With the passage of Proposition 209, there has been a sharp reduction in the numbers of students who are members of underrepresented minorities on the University of California, Berkeley, campuses.

Since the 2000-2001 academic year (the first year these scholarships were available), the Foundation has made 57 separate awards. At present, there are 31 students on campus who are BSF scholarship recipients. Provided sufficient private funding is available, the Foundation will make 13 scholarship awards for the 2008-2009 academic year.

The scholarships are named in memory of two deceased members of the Berkeley faculty who were instrumental in encouraging students of color to attend and thrive on campus, Jenny Franchot and Albert Johnson.