Members of Our Lady of the Cape Ladies Guild founded the OLC Scholarship Fund in 1989. The first two awards were granted in 1991, for a total of $2,000.  The original Scholarship Committee members were Mary Bond, Ellen Curran, Marguerite McGirr, Vera Ryan, and Claire Simonitsch.  In 2005 the current Scholarship Committee determined that on yearly scholarship would be designated the Marguerite McGirr Scholarship in memory of that founding member.