Horatio Alger Association of Canada announces significant increase in scholarship funding

• Canadian and Québec Scholarships will double to $10,000, up from $5,000
• National Entrepreneurial Scholarship to jump to $25,000, up from $10,000.

TORONTO, Oct. 29, 2024 /CNW/ - In the lead-up to its 6^th annual Excellence Gala, the Horatio Alger Association of Canada today announced a significant increase in funding for its undergraduate scholarship programs.

This increase marks a significant milestone in the Association's ongoing commitment to provide financial support for Canadian students facing adversity and wanting to pursue a higher education. Beginning with scholars entering university in Fall 2026:

• Horatio Alger Canadian Scholarships and Horatio Alger Québec Scholarships (170 scholarships awarded per year) will double to $10,000 per student, up from $5,000.
• National Entrepreneurial Scholarships (10 scholarships awarded per year) will increase to $25,000 per student, up from $10,000.  

"The core of our organization is celebrating those who come from humble beginnings and succeed mightily thanks to the free enterprise system. Due to the tremendous generosity of both Horatio Alger Members and the loyal sponsors of our annual Excellence Gala, we are in a financial position to substantially further our commitment to empowering Canadian students facing adversity at a time when so many are grappling with increased living costs," said Prem Watsa, President of the Association. "We view our scholarships as much more than monetary assistance – they are an investment in Canada's future leaders."

The Horatio Association of Canada has two functions. First, it recognizes Canadians who have demonstrated perseverance and achieved great success in life. These individuals are awarded lifetime membership in the organization with the International Horatio Alger Award. At the 6^th annual Excellence Gala to be held November 19^th, 2024 at the Fairmont Royal York, the Association will induct into its ranks Canadian singer/songwriter Michael Bublé, the co-founder of the Dilawri Group of Companies, Kap Dilawri, the President & CEO of CIBC, Victor Dodig, the President & CEO of CN, Tracy Robinson, and the CEO and Managing Partner of the Waterous Energy Fund, Adam Waterous.

Second, the Association awards post-secondary scholarships – now more than 300 annually – to deserving young Canadians in every province and territory. Since 2012, the Canadian Association has awarded $16 million to over 2,000 deserving students from coast to coast to coast. Recipients are also supported and mentored by the Association through services such as financial aid counselling, internships, and mental health support.

Horatio Alger scholars come from difficult circumstances. Of the 2024 class of scholars:

• The average family income was $31,568;
• 25% experienced abandonment by a parent or guardian;
• 25% suffered from physical, mental, or sexual abuse;
• 18% faced drug or alcohol abuse in the household;
• 17% experienced disability or serious illness; and
• 17% faced the death of a parent or guardian.

Despite these challenges, the cumulative high school academic average of 2024 Horatio Alger scholars was 90.27%.

About the Horatio Alger Association of Canada
The Horatio Alger Association of Canada, the Canadian affiliate of the Horatio Alger Association of Distinguished Americans, Inc., is a charitable organization dedicated to the belief that hard work, honesty, and determination can conquer all obstacles. The Association honours the achievements of outstanding individuals who have succeeded in spite of adversity by bestowing upon them the Horatio Alger Award and granting them lifetime membership into the Association. Through the generosity of its Members, the Association annually awards scholarships to deserving young people in every province and territory. 

Members of the Association include Alain Bouchard, Dominic D'Alessandro, Dr. Rola Dagher, Amar S. Doman, N. Murray Edwards, Darren Entwistle, Peter E. Gilgan, Serge Godin, Wayne D. Gretzky, Jay S. Hennick, David Johnston, Monique F. Leroux, Rebecca MacDonald, Anthony von Mandl, Bharat B. Masrani, G. Wallace F. McCain, Lorne Michaels, Brian Mulroney, Jim Pattison, Ryan Reynolds, David E. Ritchie, Calin Rovinescu, Walter Schroeder, Gerald W. "Gerry" Schwartz, Isadore Sharp, Edward Sonshine, Jim Treliving, V. Prem Watsa and Rick Waugh.

To learn more about the about the Association and its scholarship programs, please visit www.horatioalger.ca, or follow the Association on X, Facebook, and LinkedIn. 

SOURCE Horatio Alger Association of Canada

For further information, please reach out to Michael Eugenio, Director of Operations at the Horatio Alger Association of Canada, at [email protected].