Students at the University of South Florida will have another source of funding to turn thanks to a $300,000 gift from USF Federal Credit Union.

The USF Foundation said the donation from the $419 million Tampa, Fla.-based cooperative will be used to support scholarships and programs within the Morsani College of Medicine and to provide passport scholarships for USF System undergraduates.

The USF FCU gift will also support a new passport scholarship fund that will enable undergraduate students throughout the USF System to study abroad.

“We recognize the strategic vision of the university and the importance it will play moving ahead in healthcare both locally and globally. We see this as a step towards helping USF Health realize its vision for the future,” said Richard Skaggs, president/CEO of USF FCU.

The gift will provide support for USF health events and programs which include the CAMLS Entrepreneurial Leadership Program, Research Day and USF Health Length of Service.

In addition, it will create scholarships for Morsani College of Medicine Students, and will support students within the Scholarly Excellence, Leadership Experiences, Collaborative Training program.

USF System President Judy Genshaft, said the gift will do more than help educate USF students.

“We know the opportunity to study abroad can create life-changing experiences for our students,” Genshaft said. “We are grateful for the generosity of the USF Federal Credit Union and for the difference these resources will make for both our current students and future generations of USF students.”

Skaggs said the credit union, which serves more than 35,000 members, has been a partner with the University of South Florida since its inception in 1959.