This annual scholarship is established by the Lovering Family to encourage post-graduate study in the sciences at the University of Prince Edward Island. It is awarded to a full-time student entering the first year of the Master of Science program in Biology or Chemistry who has an undergraduate record of distinction and evidence of research during the undergraduate degree (e.g., an Honours program, NSERC research, or research courses).

Established in 1969, University of Prince Edward Island is a non-profit public higher education institution located in the suburban setting of the medium-sized town of Charlottetown (population range of 10,000-49,999 inhabitants), Prince Edward Island. Officially accredited and/or recognized by the Department of Workforce and Advanced Learning, Prince Edward Island, University of Prince Edward Island (UPEI) is a small (uniRank enrollment range: 4,000-4,999 students) coeducational higher education institution. University of Prince Edward Island (UPEI) offers courses and programs leading to officially recognized higher education degrees such as pre-bachelor degrees (i.e. certificates, diplomas, associate or foundation degrees), bachelor degrees, master degrees, doctorate degrees in several areas of study. See the uniRank degree levels and areas of study matrix below for further details. This 50 years old higher-education institution has a selective admission policy based on students' past academic record and grades. The admission rate range is 60-70% making this Canadian higher education organization a somewhat selective institution. International applicants are eligible to apply for enrollment.