CANADA MILLENNIUM SCHOLARSHIP FOUNDATION: AGREEMENT REACHED WITH SASKATCHEWAN

Starting in January 2000 and for the next ten years, approximately

32,000 Canada Millennium scholarships will be distributed to full-time

post-secondary students in Saskatchewan, representing some $97 million

in additional funds for student financial assistance. The Agreement

was signed today in Saskatoon by Premier Roy Romanow, Post-Secondary

Education and Skills Training Minister Maynard Sonntag and Norman

Riddell, Executive Director and Chief Executive Officer of the Canada

Millennium Scholarship Foundation.



"I am delighted that we have been able to reach this Agreement with

the Canada Millennium Scholarship Foundation. A good education is the

best possible gift we can give to our children. These funds will make

post-secondary education more affordable for Saskatchewan students and

their families," Premier Romanow said.



The Agreement between the Government of Saskatchewan and the

Foundation provides for two classes of awards: General Awards and

Exceptional Merit Awards.



Approximately 3200 General Awards will be given to Saskatchewan

residents, at a cost of more than $9.6 million a year. These

awards represent 3.4 per cent of the 95,000 General Awards that

the Foundation expects to issue across Canada. This percentage

corresponds to Saskatchewan's share of the population of Canada.



General awards which will average $3000 will range between $2000

and $4000. Needier students will receive greater awards.



To be eligible for these awards, students must be in need, have

successfully completed 60 per cent of a year of post-secondary

studies, be enrolled as a full-time student in an eligible

post-secondary institution and be in good standing at the time of

the award.



All Saskatchewan students who apply for financial assistance

under the Canada Student Loan Program for the academic year 1999-2000 will automatically be considered for the Foundation's

General Awards. The first General Awards will be paid out early

next year. The Province of Saskatchewan will distribute the

Awards to Saskatchewan students on behalf of the Foundation.



General Awards will displace existing provincial assistance to

students. The Foundation estimates that the amount of provincial

assistance displaced will be in the order of $8.9 million a year.

Premier Romanow will be announcing how the province will be

disbursing the funds.



The Agreement also will provide Saskatchewan students with 119

Exceptional Merit Awards. These awards will vary between $3000

and $9000 and will be available to Saskatchewan students entering

post-secondary education for the first time.



Under the Agreement signed today, the Foundation will develop

criteria for the purpose of these awards and will consult with

the Province in order to find an equitable and efficient method

of identifying recipients. The Foundation expects to deliver its

first Exceptional Merit Awards in the fall of the year 2000.



"While other countries are building monuments or organizing

massive celebrations to mark the beginning of the new millennium,

we can be proud that thanks to the initiative of the Government

of Canada that we are investing in the country's most important

resource, its young people. Education is the very foundation of

Canada's future competitiveness in the global markets. The

Millennium Scholarships will give young Canadians the opportunity

to carve themselves a place in this demanding environment. In

the end, all Canada will benefit."



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For further information, contact:



Brady Salloum

Post-Secondary Education and Skills Training

Regina

Phone: (306) 787-1069



Jean Lapierre (514) 213-2262

Richard Vigneault (514) 497-1385

Canada Millennium Scholarship Foundation