The City of Oshawa and Trent University have created a dedicated endowment fund to provide support to Oshawa students attending the University's Durham GTA campus.
Beginning in the 2021-2022 academic year, the City of Oshawa Student Bursaries Endowment Fund will support students who reside in Oshawa, are enrolled at Trent University Durham GTA and have demonstrated socio-economic need.
The Endowment Fund is supported by a $100,000 contribution from Trent University, in exchange for an equivalent land transfer from the City of a 0.15-acre piece of property. This land is currently leased and will generate a small annual revenue, which will be added to the bursary fund, until such time as Trent's use for the property is finalized. The inaugural bursaries will be awarded in the 2021-2022 academic year.
The City of Oshawa Student Bursaries Endowment Fund supports and advances action items related to poverty reduction in the City's Poverty Reduction Approach, Diversity and Inclusion Plan and 2020-2023 Oshawa Strategic Plan. The new fund complements Trent's reputation as a leader in scholarships and bursaries and further supports the nearly $400,000 raised for student financial aid as part of the Campaign for Trent Durham GTA.
The endowment and new land agreement builds on previous agreements/partnership between the City and Trent University. In May 2019, the City gifted 1.85 acres of land to Trent University Durham GTA (first announced in 2017) to enable the University to proceed with expansion plans for its Durham campus at 55 Thornton Road South in Oshawa. Earlier this year, the City gifted an additional 0.15 acres of land adjacent to the Trent University Durham GTA campus for the expansion project (with a market value of approximately $100,000 dollars) in exchange for the Endowment Fund to support Oshawa students in need of post-secondary financial assistance. The Trent University Durham GTA expansion project includes a modern new six-storey building that features 200 residence spaces and state-of-the-art learning and research spaces. The new building, located at 75 Thornton Road South, will open this fall.
Trent University has a rich history in Oshawa that spans over four decades. For more information on Trent University Durham GTA, visit trentu.ca/durham.
Learn more about the expansion project at trentu.ca/durham/expansion.
Quotes:
"Through this unique philanthropic partnership with the City of Oshawa, more students in the Oshawa area will receive help to pursue their dream of a University education. Trent is a leader in student scholarships and bursaries, and since launching the Trent Durham GTA fundraising campaign, almost $400,000 has been raised for student financial aid which will support 25 students each year," said Julie Davis, Vice-President External Relations and Advancement Trent University.
"As Trent University Durham GTA looks to future growth, we want to demonstrate our support to the students who choose to study close to home, recognizing the value that higher education brings to the City of Oshawa, and indeed to the entire Region of Durham. We are fortunate to be in a city that believes in what we are doing, and where we are headed. The next generation of community leaders is right here in Oshawa. This endowment will assist these students in pursing their goals and striving for success," said Scott Henderson, Dean and Head Trent University Durham GTA.
"Trent has been part of our great city for more than 40 years. This bursary fund provides more academic options for students studying and living right here in Oshawa. We are proud to partner with Trent University Durham on this endowment fund, which will create academic opportunities for those who need it most in our community," said Oshawa Mayor Dan Carter.
"I proudly recall our efforts to attract and establish a permanent satellite campus for Trent University in Oshawa when I was first elected over a decade ago. Trent University has been a big part of our community for many years now. I am so proud of the rich history Trent has in our city and to see more than $100,000 in financial support provided to Oshawa students in need," said Councillor Tito-Dante Marimpietri, Chair, Development Services Committee.
"With the previous Council's gift of land on Thornton Rd. to Trent University Durham for its campus expansion, a separate deeded narrow strip of land to the north was leftover. When the City contemplated offers for the disposal of this strip, and the University submitted the highest and best offer to acquire it, the option for a multi-year City Endowment Fund to benefit financially disadvantaged Oshawa students in lieu of the $100,000 market value was supported by a majority of Council," said Councillor Rosemary McConkey, Vice-Chair of the Development Services Committee.
