The agreement to endow MUNPA's new scholarship is now formally in place. Congratulations and thanks to the generosity of MUNPA members in establishing this MUNPA educational legacy. The scholarship will be listed in the 2013-14 University Calendar and will be awarded for the first time in September 2013 to a student entering first year at either of Memorial's St. John's, Corner Brook or Marine Institute campuses. The amount endowed is $24,601, with $7,724 in outstanding pledges which will be added as they are received to increase the value of the endowment . The scholarship will be paid on the basis of income generated on an annual basis by the endowment (estimated value for the first scholarship is $850) so that the amount endowed and any future contributions adding to that endowment will remain on a permanent basis to generate income for one or more scholarships in the next and subsequent years.
The terms of the endowment allow for additional contributions to be made to MUNPA's scholarship fund by anyone at any time. Any such contributions will add to the value of the endowment. A form, supplied by the Office of Alumni Affairs and Development, which may be used to contribute/pledge amounts to the MUNPA scholarship endowment is available here.