The Millennium Bursary Program represents 95% of the awards distributed by the Foundation. They are awarded to post-secondary students who demonstrate merit and have the greatest financial need.
Each year, the Foundation allocates $285 million in millennium bursaries among the provinces and territories, according to each jurisdiction's share of the population of Canada. Preference is given to the students with the greatest financial need, subject to the Foundation's merit criteria. Millennium bursaries are fully portable and may be used at any recognized post-secondary institution in Canada.

In order to reduce administrative costs and avoid duplication of existing student need assessment processes, all provinces and territories have agreed to evaluate students' needs and eligibility on the Foundation's behalf. The Foundation grants its millennium bursaries based on information received from provincial and territorial student assistance services.

The Millennium Bursary Program was designed to complement provincial and territorial student assistance programs, therefore eligibility and evaluation criteria may vary slightly between jurisdictions. Please consult our provincial and territorial fact sheets for more details.

The value of the Foundation's millennium bursaries is approximately $3,000 on average, but may range from $1,000 to $4,500. Receipt of a millennium bursary may affect eligibility for other forms of student assistance. Millennium bursaries are considered taxable income, and recipients will be issued T4A forms.

• Learn more about how millennium bursaries can help students.