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The Fund was established in 1922. Since then, its purpose has been to assist in helping parents with fees during difficult financial times. Character, scholarship and need have all been taken into account in making awards, which have generally been made by the Committee on a discretionary basis.

Thanks to the careful management of previous Committees, the Fund has grown to be more than $800,000. The size of the Fund means it can sustainably support up to five awards of 33% of tuition fees at any one time. Through donations and capital gains on investments, the Committee wants to grow the Fund further so that more scholarships at a higher level of tuition fees can be offered.

The Committee, rather than having discretionary awards, would rather award one Old Boys' Association Scholarship annually in order to assist a boy, who would not otherwise go to College for financial reasons, to attend. That is particularly given that, for cases of immediate need, the College itself is better placed to respond.

Scholarships will be awarded on the following basis:

1. The Scholarship is awarded by the Committee on the recommendation of the Executive Principal;
2. The Scholarship is awarded for the entirety of a boy's time at College, but subject to satisfactory performance, with the Executive Principal able to recommend withdrawal of the Scholarship to the Committee;
3. The criteria for awarding the Scholarship is that it be awarded to a new entrant (preferably, but not necessarily, the descendant of an Old Boy) who would not otherwise have been able to attend College for financial reasons but who would benefit from being educated at College due to his academic attributes and character.
4. Applications are to be made through the school. Contact the Registrar, Sarah Fechney.