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RBC Expands And Relaunches Scholarship Program To Support Indigenous, Black And All Future-focused Youth

500+ young Canadians will benefit from RBC Future Launch scholarships - including tailored resources developed with input from diverse business, academic, and non-profit leaders TORONTO, Sept.

500+ young Canadians will benefit from RBC Future Launch scholarships - including tailored resources developed with input from diverse business, academic, and non-profit leaders

TORONTO, Sept. 29, 2021 /CNW/ - Today, RBC announced three reimagined scholarship programs - each designed to serve the unique needs of young Canadians navigating the ever-changing world of work.

Informed by the insights and lived experiences of academic, business, and non-profit leaders from the communities these scholarships will serve, the programs will award over 500 scholarships (and accompanying supports and services) to future-focused youth each year.

"We're excited to continue the momentum of the RBC Future Launch scholarship programs to help hundreds of young Canadians create the future they want to pursue," said Mark Beckles, Vice-President, Social Impact & Innovation at RBC. "Thanks to our strong partnerships with community leaders across the country, we have been able to design three of the most impactful scholarships for young people that exist today. We cannot wait to see what these future leaders will accomplish in the years ahead."

The scholarships opened today include:

RBC Future Launch Scholarship for Indigenous YouthPreviously known as the RBC Indigenous Student Award, the RBC Future Launch Scholarship for Indigenous Youth  has been awarded to Indigenous youth each year since 1992. To date, more than $1.8 million has been awarded to 198 Indigenous youth from First Nations, Inuit, and Métis backgrounds.

  • Awarded To: Self-identifying First Nations, Inuit and Métis youth (15-29) who are Canadian citizens or permanent residents and have applied to or are currently attending an accredited post-secondary institution
  • Scholarships Available: 20 each year (valued at up to $10,000 per year, for up to four (4) years)
  • Funds For: Tuition and other academic/life expenses

Offered for more than 25 years, the scholarship has been shaped by influences from many Indigenous communities. New for 2021, the scholarship amount has been doubled from past years, increasing from $5,000 to $10,000. The scholarship is now also supported by the Royal Eagles, RBC's vibrant and diverse Indigenous employee community and resource group. Their contributions were integral to designing and delivering the scholarship, ensuring it will meet the needs of young people it is meant to support. Eligible students who apply will be evaluated by an advisory committee of Indigenous leaders from business, academic, and non-profit backgrounds. Students awarded the scholarship will receive access to additional resources in the form of mentorship and internship/networking opportunities.

"The evolution of this scholarship ensures it will continue to improve the lives of young Indigenous peoples and their local communities, as it has for over two decades," said Dr. Wanda Wuttunee, Retired Professor, Department of Native Studies at the University of Manitoba - a member of the selection committee which helped to adjudicate the scholarship. "Indigenous students pursuing their career dreams today have an important and inclusive support in the RBC Future Launch Scholarship for Indigenous Youth."

RBC Future Launch Scholarship for Black YouthAs a brand-new scholarship, the RBC Future Launch Scholarship for Black Youth  will support the educational ambitions and furthered community engagement of young Black Canadians.

  • Awarded To: Youth who identify as Black (15-29) who are Canadian citizens, permanent residents, or refugees entering the 11th or 12th grade or enrolled in post-secondary education in the 2022-2023 academic year
  • Scholarships Available: 20 each year (valued at up to $10,000 per year, for up to four (4) years)
  • Funds For: Tuition and other academic/life expenses

Through an advisory committee of Black academics and youth-serving leaders, this scholarship was created by the community, for the community - ensuring it will meet the needs of the young people it is meant to support. Eligible students must be nominated by one of 12 participating community partner organizations. Nominated students will be evaluated by a selection committee comprised of Black leaders from academic, business, and non-profit backgrounds. Students awarded the scholarship will receive access to additional resources in the form of mentorship, academic and career planning, tutoring, and internship/networking opportunities.

"The RBC Future Launch Scholarship for Black Youth is a generous and meaningful contribution towards supporting the upward mobility of Black youth through post-secondary education training," said André G. McDonald, Professor of Mechanical Engineering at the University of Alberta - a member of the advisory committee which helped to design the scholarship. "It will certainly help the young members of our community gain inalienable skills that will set them on a sustainable path to career success."

RBC Future Launch ScholarshipIntended for all young Canadians who demonstrate passion and a vision for their future, the RBC Future Launch Scholarship is designed to help those looking to gain new skills or build on existing ones.

  • Awarded To: Canadian youth (15-29) enrolled in part-time education or those not in school
  • Scholarships Available: Over 500 each year (valued at $1,500 per scholarship)
  • Funds For: Short-term courses, workshops, certificates, necessary equipment or books, and more!

This scholarship is not intended for full-time students - and submission of past grades and transcripts are not required to apply. Winners will instead be selected based on their drive, commitment to lifelong learning, and how they plan to pursue their chosen learning opportunity.

"The RBC Future Launch Scholarship helped me to take an online screenwriting course. As a result, I was able to build connections and gain exposure as an emerging artist within Edmonton," said Lisa 'Alyx' Bui, an independent filmmaker who received a scholarship in 2021. "I have extended my learning by attending several collective action-based youth conferences - and am eager to connect with other youth to transform the systems and barriers that prevent equal participation in all socio-economic and cultural spheres."

Universities Canada, a national leader in scholarship management for more than 50 years, will administer all three of the programs - and work in partnership with selection committees to award the Black and Indigenous youth scholarships.

These scholarships are made possible through donations from the RBC Foundation in support of RBC Future Launch - a 10-year, $500 million commitment to empower Canadian youth for the jobs of tomorrow. With a focus on networking, skills development, practical work experience and mental wellbeing supports and services, the initiative aims to help break down the barriers facing young people.

In 2020, as part of its Action Plan Against Systemic Racism, RBC committed to providing $50 million in focused funding through RBC Future Launch to create meaningful and transformative pathways to prosperity for up to 25,000 BIPOC youth by 2025, with investments in areas such as skills development and mentoring. RBC also committed to allocating 40% of summer opportunities to BIPOC youth, with a focus on recruiting from Indigenous and Black communities.

Eligible youth can apply or be nominated by community partners for these scholarships starting today. To learn more or view full eligibility requirements, visit: rbc.com/futurelaunchscholarships.

About RBCRoyal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at  rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC