He used his Budget yesterday to announce £100,000 for the Lockerbie-Syracuse Trust, which every year enables two Lockerbie Academy students to spend a year at Syracuse University in New York State.
The US university lost 35 students when Pan Am Flight 103 exploded over the town in 1988.
During the visit, Mr Osborne met volunteers at the memorial centre and learned about the student programme.
Scotland Office minister David Mundell said: "It was an opportunity to explain to him the very positive work of the Trust.
"It is one of the few good things to come out of those horrific events."