News Releases
Talented students, along with two of Canada's leading professional schools at the University of Waterloo will benefit from a $1.3 million donation announced today by BMO Financial Group.
BMO's gift includes $824,500 to launch the BMO Financial Group Scholarship Program that will fund university-wide entrance scholarships, a key priority for the university in attracting top students from across the country. UW's School of Accountancy will receive $300,000 and the School of Architecture will receive $175,500. The funding will benefit the operations of these widely respected professional schools.
"The generous scholarships will make a significant difference for Waterloo and its students — it is a solid investment in the future," said UW President David Johnston. "The BMO Financial Group scholarships are a major contribution to Campaign Waterloo's endowment goal of over $25 million for undergraduate scholarships."
The scholarship program will award $5,000 to top students entering university for the first time who demonstrate a financial need. When fully funded, the BMO Undergraduate Entrance Scholarship Fund will be one of the University's largest endowments, providing 6 to 12 scholarships annually.
"Education is a prime focus of BMO's commitment to make our communities stronger and more prosperous. As an active participant in Canada's communities, we believe in the possibilities of personal growth and achievement through continuous learning and access to education," said Karen Maidment, Senior Executive Vice-President and Chief Financial Officer, BMO Financial Group.
"I'm hopeful that BMO's gift will help students at the University of Waterloo attain their full potential, develop skills, and encourage leadership that will help them make a meaningful contribution to our region, our province and our country," added Maidment.
BMO's donation may also be matched dollar-for-dollar pending a decision from the Ontario Government to reinstate the Ontario Student Opportunity Trust Fund (OSOTF) program.
About UW's Schools of Architecture and Accountancy
UW's School of Architecture, now located in its new home in the heart of downtown Cambridge's most historic area, is recognized as one of the best in North America because of the experience students gain through the co-operative education program (alternating study and work terms) and the school's focus on creativity. Students can also take advantage of international opportunities, such as an academic term at the school's studio in Rome, Italy. The school offers undergraduate and graduate programs.
UW's School of Accountancy is widely recognized as the premier accounting unit at a Canadian university. Its graduates consistently excel in professional exams and its faculty members write texts and cases that are used at post-secondary institutions across Canada. As well, the Accountancy school professors conduct innovative research and its programs receive special recognition by accounting bodies.
About BMO Financial Group's Commitment to Communities
Since 1817, BMO Financial Group has believed in community reinvestment and corporate and social responsibility to the communities it serves. BMO Financial Group contributed more than $29 million in corporate donations, sponsorships and events in 2004, supporting thousands of communities, charities and not-for-profit organizations in Canada. BMO has committed $9.8 million over the next 10 years to universities and colleges across the country.
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