Western benefits again from Ivey league
By Adrian Leung
The Iveys have done it again. Western's most famous donors have recently contributed $2.5 million, this time for student bursaries.
With two separate donations last Thursday, the Ivey family helped the university's fund-raising campaign exceed $10.5 million. The Lorraine Ivey Shuttleworth Continuing Awards Program and the Richard Ivey Foundation Awards will be established to help over 70 students in financial need.
"This grant is wonderful and it is incredibly important for Western to help students in need. It is a tremendous boost since scholarships and bursaries are very important," said Greg Moran, Western's VP-academic.
Including the two donations, the Ivey's have contributed over $40 million to the university over the past several decades, said Judy Noordermeer, the university's public affairs officer.
As students face increasing tuition fees, accessibility becomes a key concern. Therefore student scholarships and bursaries are seen as an integral part of keeping university education accessible to all. "It is of the upmost importance at this time that everyone should have a chance at an education," Lorraine Ivey Shuttleworth said. "It's not just a question of getting good jobs, but about getting a good education."
Moran said the university is extremely concerned about accessibility and with the money raised, well over a $1 million a year more will be available for student bursaries once the endowment program is set in place. Noordermeer added the funds will benefit hundreds of students.
This grant, along with others made to Western in the past few months, will be matched by the provincial government's Ontario Student Opportunity Trust Fund. With funds matched, the total amount of money raised by the university will exceed $21 million.
"The [OSOTF] provided a fortuitous time to make a donation because the university could take advantage of the leverage to double-up the value of the grant made," said Keith Sumner, secretary-treasurer of the Richard and Jean Ivey Fund.
Noordermeer added Western's fund-raising campaign, which started last August, was extremely successful and the university will announce another major donation today. "Our goal was to raise $4 million and we exceeded our expectations by raising more than $10.5 million and it will go up even more."