Canada Millennium Scholarship Foundation

Canada Millennium Scholarship Foundation
New Brunswick Education

New Brunswick Education

September 22, 2005 09:43 ET

Canada Millennium Scholarship Foundation: $4.8 million for low-income New Brunswick students

FREDERICTON, NEW BRUNSWICK--(CCNMatthews - Sept. 22, 2005) - Approximately 1,400 New Brunswick students from low-income families will benefit from $4.8 million in grants beginning this fall, thanks to an experimental project announced today by the Canada Millennium Scholarship Foundation and the Government of New Brunswick.

Low-income students beginning their studies this fall and next will be eligible for a total of up to $5,000 in millennium access grants during their first three years of post-secondary studies.

The $4.8-million project will be funded by the Foundation and delivered through New Brunswick Student Financial Services to dependent students from low-income families, a group that is under-represented in higher education. It comes in addition to the $6.9 million in millennium bursaries the Foundation currently distributes to more than 2,500 New Brunswick students each year.

"Improving affordability for post-secondary students is an important part of our Post-Secondary Education and Training Quality Learning Agenda," said Education Minister Madeleine Dube. "This partnership with the Millennium Scholarship Foundation will help more students, especially those from low-income backgrounds, access the post-secondary education opportunities they desire."

The grant represents a shift in the way student financial assistance is delivered in Canada, by providing resources on the basis of a student's level of income, not the cost of his or her program. Recipients may be asked to participate in follow-up studies designed to improve policymakers' understanding of the challenges facing low-income students and the effectiveness of different forms of student financial assistance.

"As an organization designed to improve access to post-secondary education, the Canada Millennium Scholarship Foundation is concerned that many New Brunswickers from low-income families face significant barriers that deter them from embarking on and succeeding at college or university," said Norman Riddell, the Foundation's executive director and CEO. "During the next four years, we will measure the impact that a grant dedicated to them can have on their capacity to access and complete their post-secondary studies."

"The Government of Canada is pleased that the Foundation is working to continue to improve access to post-secondary education," said Senator Joseph Day, on behalf of Regional Minister for New Brunswick, the Honourable Andy Scott Andy Scott. "Like the Canada Access Grant, this project will enable students from low-income families to pursue the higher education they need to compete in the knowledge economy of tomorrow."

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 $340 million in the form of bursaries and scholarships each year throughout Canada. Since its inception, it has awarded more than $1.7 billion in the form of more than 550,000 bursaries to Canadian post-secondary students. In New Brunswick, more than 12,000 bursaries were distributed over the same period of time at a value of more than $36 million.

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