Students will be given extra help meeting education fees after the Bank of Bermuda Foundation stepped up its annual scholarship awards by more than $150,000.

Next year, the group will award $717,000 in scholarships ? a rise of 27 percent on 2006?s allocation of $565,000.

Cash will be available to Bermudian students who achieve academic excellence, demonstrate a strong community focus and are involved in extra-curricular activities. A total of 19 scholarships will be up for grabs.

Officials said the increase reflected the growing costs of education.

David Lang, director and secretary of the foundation, said: ?In today?s highly competitive environment, it is vital that our young people are equipped with the best education in which to pursue their dreams.

?School fees continue to increase, and it is important that we provide students with the means to achieve their goals, for it is only by educating the youth of today that we can help develop the leaders of the future.? Scholarships available under the initiative include the Eldon Trimingham scheme, set at $30,000 for two years, which requires the student to return to Bank of Bermuda to work on completion of their degree.

Applications for all Bank of Bermuda Foundation scholarships can be picked up from the Bank of Bermuda, Compass Point, ground floor reception, or at the bank?s website at www.bankofbermuda.com.