Donors raise $600K for NOSM U while institutional endowment fund remains locked to Laurentian

CBC reports that donors have raised $600K to support NOSM University students while the university awaits access to its $14.6M endowment fund that is currently tied up with Laurentian University. Before becoming an independent institution, NOSM U’s endowments were held in accounts at Lakehead and Laurentian, and Wawa News reports that NOSM U has been assured that Laurentian’s Plan of Arrangement accounts for the return of $14.6M in endowments toward student bursaries. NOSM U President Dr Sarita Verma said that bursaries have been frozen since proceedings began in 2021 and noted that financial support is essential for students, many of whom are the first in their families to attend university. The $600K was raised by donors such as the Métis Nation of Ontario, the Power Corporation of Canada, and the Lougheed Family Foundation. CBC| Wawa News Note: Archived stories may contain dead links or be missing source links.

Wawa News | CBC | CBC