sait100@sait.ca           Thank-you to our presenting sponsor PepsiCo Canada

SAIT CENTENNIAL BABY - Oct. 16, 2016

Sponsored by Mawer Investment Management

In the early hours of our 100th birthday, the SAIT Centennial Baby was born. Only hours after baby Mohammed Sher arrived, his parents, Sidra Siddique and Umar Riaz, were informed their son shared a birthday with SAIT and had been named our centennial baby — a title that comes with a full SAIT scholarship. The generous gift was made possible by Mawer Investment Management, a SAIT centennial sponsor.

About the Mawer Centennial Baby Scholarship

The purpose of the Mawer Centennial Baby Scholarship Fund is to award the first child born in a Calgary hospital on SAIT’s 100th birthday the opportunity to attend SAIT in a full-time program of study at such time as they become of age, but before their 25th birthday (i.e. 2041).

Criteria

1. The child will have been born in a Calgary hospital on October 16, 2016.

2. The child and his or her parents will be available to attend a news conference at 1pm on Tuesday, October 18, 2016.

3. The child will need to meet all entrance requirements for the chosen program of study and enroll prior to their 25th birthday (i.e. before 2041).

a. The child will be enrolled full-time in any 2 or 4 year SAIT program (diploma or degree).  

4. It is the duty of the family of the child, until age of majority, and of the child once of age, to maintain current contact information with SAIT for the purpose of communicating fund balances and updates on the status of the fund. It is the responsibility of SAIT to provide the family with annual updates regarding the balance and status of the fund.

The first child born in a Calgary hospital on October 16, 2016 whose parents agree to the above criteria will be given the opportunity to be awarded the scholarship when they become of age (prior to their 25th birthday).

Scholarship terms

• The estimated future value of the fund is $ 40,000 (20 year annuity), to be distributed as follows:

 

Year 1

Year 2

Year 3

Year 4

2 year program

 50% of fund balance upon enrollment

Remaining fund balance

 N/A

 N/A

4 year program

 25% of fund balance upon enrollment

25% of fund balance

25% of fund balance

 Remaining fund balance

• The principal amount of the fund shall be $ 20,000.  Principal + interest will be determined and communicated to the family (parent or guardian) on an annual basis until the child reaches the age of majority, at which time the fund balance shall be communicated to the child. The fund is not transferable and is an interest earning scholarship which is not endowed.

• If the entire fund is not utilized within the specified time period, then any remaining fund balance shall be returned to SAIT for redistribution in the form of a general Entrance Award.

• In the event that the child does not enroll in a program of study at SAIT, relocates, perishes, or otherwise is not able or chooses not to meet the intention and requirements of this award, SAIT shall reserve the right to redirect the fund including principal and interest to another student award at its sole discretion.

• The award must be accepted as offered and is not transferable or convertible to cash.

• The award recipient’s parent or guardian must first correctly answer a mathematical skill testing question. 10 x 3 – 11 = 

Event Details

    • Date:Oct. 16, 2016
    • Time:TBD
    • Location:A Calgary hospital
    • Sponsored by:Mawer Investment