
The fund has been launched as many universities increase annual tuition fees to the maximum of £9,000 from September 2012.
To pay for the Southwark Scholarship Scheme the council is using money from its £3m youth fund, with £50,000 allocated for the current financial year, rising to £150,000 by 2013/14.
At least five students are set to be the first supported through the scheme this year. They will be assessed based on financial status, academic achievements as well as their level of community and voluntary work in the borough. Only those who have lived in the borough for three years or more will be considered.
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