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CIBC donation supports financial literacy for NSCC students

Photo of NSCC President Don Bureaux with CIBC executives and students in Make Way t-shirts
CIBC will donate $125,000 to NSCC to develop a course on financial literacy skills for all students across the province

Making way for financial literacy

CIBC is contributing $125,000 to Make Way – The Campaign for NSCC to support the development of a financial literacy course that will be available to all Nova Scotia Community College students throughout Nova Scotia.

“We are excited to support the development of a financial literacy course for NSCC students across Nova Scotia, providing them with the fundamental knowledge to manage their money and make smart financial decisions which they can apply to their lives now and in the future,” says Mike Bagnall, Vice President and Region Head, CIBC.

In the most recent Canadian Financial Capability Survey (2014) the average Canadian earned a C grade or 62 percent on a money-management survey. Studies also show that household debt is at an all-time high in this country, while students are graduating with more debt than ever before.

CIBC recognizes the importance of basic financial knowledge across all demographics, and the positive impact acquiring these skills can have on students in post-secondary institutions, in particular.

“We are so fortunate that CIBC sees the value in addressing this pressing societal issue amongst the college-aged population, and we look forward to providing these invaluable money-management tools to our students,” says Don Bureaux, President, NSCC. “It is yet another way that Make Way is harnessing the spirit of philanthropy to help students succeed. And when students succeed, we all succeed.”

While the financial literacy course is yet to be developed, it will be built into every College program beginning in 2018-2019 and is expected to cover basics such as financial goal setting, budgeting and investing.