News Briefs

Today's top news stories for September 30, 2007

Tuesday, April 7th, 2009

Future of Need-based Bursaries Insecure
Need a bursary? Don’t rely on the Canadian Millennium Scholarship Foundation.

The Canadian Millennium Scholarship Foundation’s (CMSF) mandate expires in 2009, making the future of federal bursaries and scholarships precarious.

The CMSF has distributed half a million bursaries and scholarships worth about $2.2 billion since 2002.

According to the CMSF website, $285 million is dispersed every year, and the foundation accounts for 39 per cent of non-repayable needs-based funding in Ontario.

The expiration of the mandate has caused about 600,000 students from seven different student groups to unite and urge the government to extend its mandate.

Recently, the Ontario Undergraduate Student Alliance (OUSA) has joined with the other groups to support the maintenance of the CMSF.

“Removing the CMSF funding would cripple the students with the highest need,” David Simmonds, VP-university affairs and OUSA president, said.

“We are supporting the CMSF and the mandate needs to be renewed. Our federal government needs to work on improving access and affordability for thousands of students in Ontario.”

But the Canadian Federation of Students (CFS) accuses CMSF of being unaccountable to taxpayers as it is a private foundation.

Ian Boyko, CFS government relations coordinator said, “The CFS proposes of a $2.1 billion grants program that the federal government can offer without increasing spending in the next budget to replace the CMSF.”
"Anna Arora

Share this article on:

Facebook | DiggDigg |

Copyright © 2008 The Gazette