The Fr William “Bill” J Nicholson Memorial Scholarship was established in honor of Fr William J Nicholson, SJ, the first Chairperson of the Department of Economics at Xavier University - Ateneo de Cagayan. The department was founded in March 1958, under the leadership of then-Father President Francisco Araneta, SJ. Fr Nicholson earned his doctoral degree in Economics from Saint Louis University in Missouri, USA, and was instrumental in establishing the undergraduate and graduate programs in Economics at Xavier University. His significant contributions to economic development research, particularly in Cagayan de Oro and Mindanao, have left a lasting impact.

In recognition of Fr Bill's legacy, one of his former students generously donated an endowment fund exclusively for incoming AB Economics freshmen. This scholarship aims to support outstanding students in their academic journey, enabling them to excel in Economics and contribute to the region's economic growth.

The Department of Economics is committed to expanding this scholarship program. Over the next two years, the number of Fr William J Nicholson Memorial Scholars will double. Starting with two new scholars from Batch 3, the department aims to support at least four scholars each school year. This initiative reflects the department's dedication to fostering academic excellence and providing greater opportunities for deserving Economics students.