The Argus Group has donated $17,000 to scholarship charity, Knowledge Quest, to fund higher education for Bermudians.
The funds for the Knowledge Quest donation were generated by the sale of shares held in a trust in the name of John Sainsbury, a former Chief Executive Officer of The Argus Group, for the benefit of scholarships.
The donation will contribute towards the 2018-19 scholarship recipients, who have not yet been selected. There are expected to be between 10 and 12 recipients who will benefit this year.
Founded in 2002, Knowledge Quest is a registered charity that provides scholarships for Bermudians to study at universities overseas as well as mentorships to empower scholarship recipients to make the most of their scholarships.
It is a ‘last resort’ scholarship fund, helping students who have been unsuccessful in obtaining full scholarships or have had funding fall through. The charity has provided scholarships to more than 150 Bermudians and spent in excess of $3 million since its inception.
Joel Schaefer, Chair of the Argus Charitable Donations Committee, says: “We are delighted to be able to support Knowledge Quest in its mission to make overseas education affordable to Bermudians. Further education increases knowledge, earnings potential and discipline and we are pleased to support this opportunity for Bermudians.”
Cynthia Cox, Director of Knowledge Quest, says: “It is only with the support of donors such as Argus that we are able to provide the support to Bermudians who want to study overseas, so we are very grateful to them.
“At Knowledge Quest, we pride ourselves on having minimal overhead expenses and all funds are paid directly to the students’ academic institutions, ensuring that all donations go straight towards students’ tuition.”