Canada Millennium Scholarship Foundation

Canada Millennium Scholarship Foundation

May 26, 2005 10:57 ET

Canada Millenium Scholorship Foundation: $70 Million Transferred for Quebec Students

MONTREAL, QUEBEC--(CCNMatthews - May 26, 2005) - The Canada Millennium Scholarship Foundation announced today that its Board of Directors has authorized the allocation of 21,424 millennium bursaries worth an average of $3,300 to students in Quebec.

For the 2004-05 academic year, the Foundation will provide a total of $70,654,000 in the form of millennium bursaries to Quebec students. The amount will be transferred to the Government of Quebec in the next few days, as stipulated in the new Administrative Agreement between the Foundation and the Quebec Ministry of Education. The agreement, which was concluded in April and ratified yesterday by the Government of Quebec, stipulates that student loan limits will be reduced by 70% during the 2005-06 academic year and by 100% in 2006-07.

The new Administrative Agreement also includes the creation of an experimental bursary project for Quebec students from low-income backgrounds worth $40 million over four years. The funds will be transferred after the conclusion of a specific agreement on data exchange between the Foundation and the Ministry of Education.

The Canada Millennium Scholarship Foundation is a private, independent organization created by an act of Parliament in 1998. It encourages Canadian students to strive for excellence and pursue their post-secondary studies. The Foundation distributes $285 million in the form of bursaries and scholarships each year throughout Canada. Since its inception, it has awarded more than $1.6 billion in the form of more than 520,000 bursaries to Canadian post-secondary students.

Contact Information

  • Canada Millennium Scholarship Foundation
    Jean Lapierre
    (514) 284-7235