22 year old Louise Clancy from Kilworth died alongside her mother Geraldine when their car was struck by another car less than a mile from their home just days before Christmas.
Louise's family have endowed the bursary to support enthusiastic young students like her with a €1,000 award for the best English BA dissertation.
The award will run for the next 22 years and will also be awarded to the previous three winners of the Louise Clancy Memorial Prize.
The Clancy family say the bursary is a fitting tribute to Louise's memory and have thanked the School of English for their kindness and help in keeping her memory alive in UCC