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Its objectives are to improve access to post-secondary education for all Canadians, especially those facing economic or social barriers; to encourage a high level of student '''achievement''' and engagement in Canadian society; and to build a national '''alliance''' of organizations and individuals around a shared post-secondary agenda. The Foundation is a private, independent organization created by an act of Parliament in 1998. It distributes $340 million in the form of bursaries and scholarships each year throughout Canada to undergraduate university and college students. PROGRAMS The Millennium Bursary Program represents 95% of the Foundation's scholarship budget. The first bursaries were distributed in January 2000 to over 90,000 post-secondary students who demonstrated the greatest financial need. Students who apply for financial aid from the province or territory in which they reside are automatically considered for a bursary. The Millennium Excellence Award Program constitutes the remaining 5% of its scholarship budget. The Foundation awarded almost 900 excellence awards for the first time in June 2000, on the basis of academic merit, community involvement, leadership, and innovation. The Foundation believes in the leaders of today and tomorrow and recognizes the need to support their contributions to our country. Excellence awards are investments in the development of Canada's leaders. It now awards in excess of 2,000 entrance awards and national in-course awards each year. The Canadian Association for the World Petroleum Congresses (WPC), its Canadian National Committee and the 16th Canadian Organizing Committee were responsible for organizing the Congress of its 59 member nations from June 11 to 15, 2000. After the event, a substantial surplus remained. The organizers decided that the larger part of it should be used to create a scholarship fund for post-secondary students who demonstrate academic merit and a high level of financial need in areas of academic pursuit relevant to the petroleum industry. Beginning in September 2002, the Foundation will distribute 200 scholarships worth $3,000 each year until 2009 via its World Petroleum Congresses Millennium Scholarship Program . The Millennium Research Program was launched in 2001 to assist the Foundation in carrying out its mandate to improve access to post-secondary education and provide students with the educational opportunities they need to prepare themselves for the future. The Research Program advances the study of barriers to post-secondary education and the impact of policies and programs designed to alleviate them. It ensures that policy-making and public discussion about opportunities in higher education in Canada can be informed by rigorous analysis and empirical evidence. SEE ALSO
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