More students could soon look to Burnaby's two post-secondary schools for graduate programs thanks to a recent investment from the B.C. government.
A combined $850,000 investment for Simon Fraser Universiyt (SFU) and the BC Institute of Technology (BCIT) was announced last Tuesday (Aug. 22).
The money is part of a scholarship funding expansion set to prepare graduate students for in-demand careers, according to a news release.
"These scholarships will help more graduate students become our province's next generation of researchers, innovators and leaders, and the talent that employers and British Columbians rely on," said Selina Robinson, B.C.'s minister of post-secondary education and future skills.
"Through the StrongerBC: Future Ready Action Plan, we're supporting graduate students by significantly increasing graduate scholarships, making education more affordable and more accessible and helping set people up for success in our growing economy."
Burnaby's endowments, set to be allocated over the next three years, are as follows:
- SFU = $795,000
- BCIT = $55,000
The schools are two of 10 across the province to receive related funding from a pot of $15 million, which will add $2,500 to each new graduate scholarship award.
The province explained roughly 4,100 grad students received $50 million in financial aid through StudentAidBC in the 2021-22 calendar year — more than $15 million in interest-free B.C. student loans.
"With global inflation driving up the cost of living, graduate students throughout the province will benefit from the increased scholarship investment, making post-secondary education more affordable while helping recruit and retain B.C.'s brightest minds," the release added.
Earlier this year, B.C. also invested $50 million into Mitacs to support 10,000 paid internships open to both undergraduate and graduate students over five years.
