posted on Nov. 30: 12 medical scholarships supported by Scotiabank’s $750,000 gift

McMaster University today celebrated a generous donation of $750,000 from Scotiabank towards the establishment of 12 undergraduate medical scholarships.

The gift will be matched with $450,000 in government funds under the Ontario Student Opportunity Trust Fund bringing the total amount of these scholarships to $1.2 million.

Two scholarship program have been created. Ten Scotiabank Medical Scholarships valued at $5,000 will be awarded annually to undergraduate medical students. Two Scotiabank Breast Cancer Scholarships valued at $5,000 each will be awarded annually to students who are completing an elective, educational or research project in the field of breast cancer.

“Our number one priority is ensuring that our students receive the best possible education,” said President Peter George. “These scholarships will enhance McMaster's ability to support, encourage and educate the doctors of tomorrow. This gift has and will continue to have a unique and lasting impact at the University.”

A total of 14 scholarships worth $70,000 have been awarded since the Scotiabank scholarship program was established in 1999.

“Scotiabank is proud to support educational and research excellence at McMaster University,” said Wendy Hannam, Scotiabank regional senior vice-president, Ontario region.

“The bank is committed to supporting causes that build healthy communities, particularly in the area of breast cancer. I'm also pleased that Scotiabank has been able to make this commitment as our bank feels that it's important to invest in and partner with Canada's educational institutions.”

McMaster has just celebrated a successful student-centred campaign raising more than $128.6 million. One of the priorities of the campaign was to raise funds for scholarships and bursaries.

Scotiabank along with many other partners and supporters helped raise $24.5 million in new endowment funds for scholarships and bursaries.

This, when added to government matching funds for student financial aid, brought the total endowment for scholarships and bursaries to $69 million.

In 2001, Scotiabank donated $18 million to a variety of health, education, social service and community initiatives. It is Canada's most international bank with more than 2,000 branches in more than 50 countries.