Donations made in memory of the late Mr Fischer will be used to establish the Tim Fischer Memorial Scholarship, which will fund a Master of Cancer Sciences degree for a cancer centre staff member.

The two-year course is offered online through the University of Melbourne and is valued at $27,000, with the aim to upskill staff in the rapidly evolving fields of clinical care and cancer research.

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Albury Wodonga Regional Cancer Centre Trust Fund received $24,000 in funeral donations and a further $40,000 from his estate, while a historic train ride organised by Mr Fischer, in partnership with Lachlan Valley Railway, raised a further $8000 to be put towards the scholarship.

Mr Fischer's wife Judy Brewer said "it was an investment in people" that she liked the most about the scholarship.

"Our family are really thrilled that we've been able to find something so suitable for this bequest and for the donations that were made in Tim's name," she said.

"I'm standing in the place where he spent so much of his last months and years. Like so many other families, this was our second home.

"It's a beautiful building, but it's not the building that makes it special, it's the people. To be able to invest in the people I think would make him very happy."

Trust fund board member Bryan Blake was grateful for the donation and said Mr Fischer had been a generous supporter of the centre.

"We will be directing and managing a scholarship fund for the cause Tim and his family identified as a priority," he said. "We hope it will be ongoing. The scholarship costs around $27,000 per year and we have the funds to cover that into the future."

Cancer services operational manager Kate Everitt said it would help to grow the appetite for future learning.

"We have radiotherapy clinical trials with the Border Medical Oncology research unit, oncology and haematology services, our cancer support services team, including our breast care nurses, prostate cancer nurse and care coordinators, allied health clinicians and the staff working in our day oncology and Border cancer hospital inpatient ward, so we offer a lot of different services," she said.

Lachlan Valley Railway Society chairman Ross Jackson also welcomed the announcement.

"I could not think of a better way to invest the money raised. Tim would be proud of the legacy," he said.

Tim Fischer Memorial Scholarship applications will open in the coming weeks.

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