A Matching Program
On May 29, 2012, the University of Toronto initiated a matching program to boost financial support for undergraduate students. Through the Boundless Promise program, U of T will match – in perpetuity and on a 1:1 basis – the annual income generated by new endowed donations of $25,000 and up, which are designated toward undergraduate, needs based financial awards. To be eligible for the match, new awards must support full-time, undergraduate students who are Canadian residents. The program will continue until December 31, 2015.
Over the past 20 years, through a combination of donor support, government matching programs and University operating funds, student aid disbursements have increased from $8 million to more than $147 million per year. Since 1998, the University’s policy on student financial support has been that no student offered admission to a program should be unable to enter or complete it due to lack of financial means. U of T is proud to support so many worthy students.
However the need is great. Over the past two decades, U of T’s undergraduate enrolment has increased 41% and needs-based financial support has grown six-fold. Over the next five years, the demand for needs-based awards is expected to grow 34%. You can make a difference.
By endowing a new, undergraduate needs-based award with a minimum gift of $25,000, your donation is invested in the University’s endowment, which in turn generates a permanent annual payout for this award to be matched in perpetuity. The Boundless Promise program is an exciting opportunity for you to double your impact in support of the next generation of global citizens.