The McKenna family and STFX University announced a $40 million scholarship program, with the family contributing $2 million per year for 10 years, while STFX contributes the same. The university stated this is the largest single private philanthropic contribution to the Antigonish school.
Back row: Chair of the StFX Board of Governors, The Honorable Lisa Raitt and StFX Chancellor, Mila Mulroney. Front row: StFX President & Vice-Chancellor, Dr. Andy Hakin, the Honorable Frank McKenna, and Julie McKenna (St. FX University photo)
Former New Brunswick Premier Frank McKenna says when fully implemented these will be the largest scholarships in Canada.
McKenna said there are several reasons why he wanted to be a part of this scholarship program, noting the university was a big part of his life. He met his wife at STFX, then three children went there, followed by five grandchildren. McKenna said he is a massive fan of what STFX has done in terms of social activism and creating a climate for vigorous debate, adding the family became very committed to the university and wanted to repay STFX for how good it has been to the family.
McKenna said several features about the scholarship program that will be unique to STFX, noting it will be the largest in the country. He said it is almost entirely based on academic merit, but an element for consideration will be civic commitment, and will be open to students across the spectrum of faculties. McKenna said it will also feature a work study term overseas, noting he wants to help develop not only well-educated leaders, but worldly leaders.
A student who gets the maximum $125,000 scholarship will receive it over four years. After 10 years, he said the family and STFX will look at recommitting to a program going forward, adding this may be just the beginning of many 10s of millions of dollars going into STFX. Just on the McKenna side alone, there will be about 200 scholarships.
McKenna called it a very proud day for the family.