Bank Foundation Redefines Scholarships Criteria
The Bank of Bermuda Foundation has redefined its eligibility criteria for its annual scholarships by placing a priority on financial need in addition to academic merit.
A spokesperson said, “Following two years of strategic planning from 2014 to 2016, Bank of Bermuda Foundation identified the need to evolve from being a charitable to a philanthropic organisation, shifting from addressing short-term, immediate needs [i.e. relieving the symptoms of social issues] to having a longer term, more collaborative and sustainable approach to solving problems to address the root causes of social issues.
“As part of this shift, the Foundation has redefined its eligibility criteria for its annual scholarships by placing a priority on financial need in addition to academic merit.
“All scholarship applicants must now demonstrate financial need by completing the family Statement of Means form. Financial need is based on a family’s ability to pay for post-secondary education. Evidence of strong academics and potential for success remain key requirements for eligibility.”
The Foundation’s Scholarship Committee Chair, Dennis Tucker, explains, ‘This commitment reflects the Foundation’s vision that there are equitable opportunities for all, to lead purposeful lives, have financial security and enjoy a sense of belonging within the community.
“The Foundation is proud to continue its tradition of offering substantial scholarships to Bermudian students, with a new focus on supporting those who face obstacles due to finances.’
“The Foundation supports students pursuing a wide range of interests including the arts, business, vocational, postgraduate, medicine, law and other courses of study. Up to 18 scholarships are made available each year. For further details on the Foundation’s scholarships please visit our website.
“Applicants are reminded that scholarship applications are due by March 31st of each year. Scholarship funds are intended for the costs of tuition, room and board and travel to and from the place of study. Scholarships are tenable at accredited institutions of higher education approved by Bank of Bermuda Foundation and are granted at the discretion of the Scholarship Committee. For further details on eligibility requirements and to apply, please visit www.bermudascholarships.com”
This is such an important step to assisting those who would not otherwise be able to complete post-secondary studies, thank you to the Board of the Bank of Bermuda Foundation.