The Canada Millennium Scholarship Foundation was a private, independent organization created by an act of the Parliament of Canada in 1998. It received an initial endowment of $2.5 billion from the federal government to provide awards annually for ten years. The foundation distributed $325 million in the form of bursaries and scholarships each year throughout Canada in support of post-secondary education. As well, the foundation conducted research into post-secondary access, via the Millennium Research Program.