Amber Webb Bowerman was a tenant in the house where Joshua Lall killed all his family except for one infant daughter before taking his own life.
The Amber Webb Bowerman Foundation was set up by several friends and has raised more than $66,000.
It will help pay for two scholarships at the Southern Alberta Institute of Technology and Mount Royal University — both in Calgary.
Two other initiatives that involve working with youth to advance their writing skills will also be funded.
Foundation president Kathe Lemon says the foundation is meant to focus on Bowerman as a person and a friend instead of on the circumstances of her death.
"I think that that would have quickly burned us out if it was something that was about that day," she said Monday on the fifth anniversary of the deaths. "Instead it was about her whole life."
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