The VM Foundation continues to make great strides in fulfilling its mission of transforming lives through education and youth empowerment, by successfully disbursing a record sum of over $7 million to secondary and tertiary scholars through the VM Foundation Scholars Programme.
The scholars received awards including the Primary Exit Profile (PEP) Bursary, Junior Plan Scholarship (awarded to the top PEP student in each county) as well as the tertiary-level Future Plan Scholarship, STEM (science, technology, education, mathematics) Scholarship and Bursary and the Master Plan Scholarship and Bursary.
During an award ceremony on Thursday (September 13) at the VM Building Society Half-Way Tree branch, VM Foundation CEO Samantha Charles announced that this year’s programme has benefitted over 70 students, with the Foundation increasing the number of beneficiaries in the Master Plan and STEM scholarship categories, and increasing the bursaries for each from $200,000 to $250,000, which represents a 25 per cent increase over last year.
“The VM Foundation is committed to empowering individuals within our communities, with programmes focused on improving the quality of life. With the unwavering support of VMBS and the contributions of our dedicated Team Members, we were able to empower more youth of Jamaica by offering financial aid to a larger number of young individuals as well as amplifying the impact of their individual scholarships. We were so impressed with the quality of applicants and were so impacted by the need, that we had to respond in a meaningful way.”
This year, through its digital application platform the Foundation received 425 application submissions for the various bursary and scholarship, which represents an overall 98 per cent increase from the 215 application submissions received for the corresponding period last year.
Timothy Fokum, who is the top student for the Junior Plan Scholarship from the county of Surrey expressed gratitude to the VM Foundation team for this invaluable investment in his secondary education. “This scholarship is not just a blessing; it represents VM’s belief in my potential. It’s a motivation to work harder and give my best in all I do. I feel incredibly honoured and ready to make the most of this opportunity,” Timothy shared.
Meanwhile, Lydia Davis who received the STEM Scholarship, which is valued at $450,000 and covers three to four years of study said: “Being awarded this scholarship means the world to me. It’s an affirmation that my hard work and dedication has paid off. It’s also a gamechanger for me and my family, breaking cycles of limited opportunities.”
The scholarship recipients also received age-appropriate financial literacy workbooks through the VM Financial Education to Empower (VM FETE) Programme, aimed at helping them to understand how money can work for them, as well as VM’s approach and principles of proper money management.
The recipients will also benefit from mentorship, which was incorporated as another component of the awards package in the scholarship programme in 2021, to enhance their soft skills, connect them with professionals in their academic disciplines, and equip them with essential competencies for success in today’s competitive world.
Charles added: “I’m thrilled to announce that this mentorship initiative will continue in 2023. Our tertiary scholars will continue to benefit from the Executive Mentorship programme, made possible through our partnership with VM Wealth Management Limited. They will have experienced entrepreneurs and executives who will guide them, by providing valuable networking opportunities and insights for their future success.”
The VM Foundation scholars awards ceremony took place on September 13 and 14 at respective VM locations in the Cornwall, Middlesex, and Surrey counties with the charge to the recipients being: ‘Your future is as bright as your determination to succeed.’
