TD Bank Financial Group establishes bursary fund

[img_inline align=”right” src=”http://padnws01.mcmaster.ca/images/TD54.jpg” caption=”Duncan Gibson, Alison Rothwell and Peter George.”]Students at McMaster University who are in need of financial assistance will benefit from a new bursary fund created by TD Bank Financial Group.

TD Bank Financial Group is dedicating $500,000 for the establishment of the TD Bank Financial Group Bursary Fund at McMaster.

“We are pleased to be a part of McMaster's bursary program, which we believe can help students to pursue their goals of post-secondary studies,” says J. Duncan Gibson, vice-chair, commercial banking, TD Bank Financial Group. “We think investing in our young people can bring long-term rewards — and it is our hope that this initiative will help make the difference for future McMaster students.”

The funds, pledged over five years, will be endowed and incorporated into McMaster's current in-house bursary portfolio. The TD Bank Financial Group Bursary will be available to full- or part-time students who demonstrate financial need. The awards will be administered by the University.

Bursaries at McMaster are non-repayable grants given on the basis of financial need. These funds are intended to assist students who experience difficulties in meeting reasonable and legitimate educational expenses. Demands on McMaster's bursary program have been increasing annually as students grapple with the cost of education. To date this year, McMaster has received over 2,000 applications for bursary assistance. Grants awarded range from $600 to $1,500 per student over two terms.

“We extend our gratitude to TD for this remarkable and timely donation,” says McMaster University President Peter George. “Last year, McMaster's bursary program assisted 3,600 students in need of financial aid. With this new fund, McMaster and TD will be able to extend a helping hand to more students, many of whom would be unable to complete their studies without this kind of support.”

In Canada and around the world, TD Bank Financial Group (NYSE/TSE: TD) serves more than 10 million customers in four key areas: personal banking, commercial banking, wealth management and investment banking. TD Bank Financial Group is a leading e-commerce financial institution, providing online access to banking, discount brokerage and mutual fund products and services through TD Access, TD Waterhouse Bank, TD Waterhouse Group, Inc. and TD Asset Management. With more than 1.5 million online customer accounts worldwide, TD Bank Financial Group ranks among the top six financial services firms in the world as measured by online accounts.