Bermudian students will be able to get ahead in their career thanks to a new scholarship launched by The Montpelier Re Foundation. The scholarship, which will be awarded for the first time in 2009, is open to suitably qualified full-time Bermudian students who are entering either the third or fourth year of a three- or four-year degree programme at an accredited university or college.

It will fund up to $15,000 per year to cover tuition, books and other fees and is tenable for up to two years, with no limit on the age of applicants.

Wayne Jackson, chairman of the Montpelier Re Foundation, said: "Supporting educational initiatives always has been a priority for the Montpelier Re Foundation. Over the years we have received numerous requests from students and schools for financial assistance, so we decided the best way to assist Bermudians was through a scholarship."

A selection committee led by former Premier Dame Pamela Gordon Banks will be responsible for selecting the winner of the award. The committee will base its decision on the financial need, academic achievements and the aptitude of applicants.

Dame Pamela said: "We hope this award will give a Bermudian student the opportunity to complete school without worrying about money. It also is important to point out that we are accepting applications from all students no matter what their age."

Anthony Taylor, executive chairman of Montpelier Re, said: "I am pleased that Montpelier, through its charitable foundation, is able to offer this scholarship. We also plan to offer the winner the opportunity for an internship at Montpelier Re so they may gain actual work experience."

Applicants must provide proof they are registered as Bermudians, demonstrate a financial need, prove acceptance to the third or fourth year of a degree programme at an accredited university or college and have a minimum GPA of 2.5 on a four-point scale (or equivalent). The deadline for applications is April 30, 2009. For more information or to download the application visit www.mre.bm/foundation