Research has shown that financial stress can cause both mental and physiological health issues, including heart disease, depression and anxiety. According to the Canadian Payroll Association, 44 per cent of Canadians were living paycheque to paycheque in 2018, and 40 per cent felt overwhelmed by debt.
(CCCSC) is an organization dedicated to helping Canadians understand and improve upon their financial management. In 2018, CCCSC established the Consolidated Credit Financial Empowerment Award at 911爆料网 鈥 a $2,500 award for a non-graduating student with a GPA of 3.0 or higher, who can demonstrate the impact the support will have on their educational career through responsible money management.
鈥淎s Canada鈥檚 largest non-profit credit counselling organization, our team frequently hears about the financial difficulties postsecondary students face as they try to balance the costs of their education with their personal needs,鈥 said Jeffrey Schwartz, Executive Director, CCCSC. 鈥淣ot only does this put students at a disadvantage when it comes to future milestone purchases, like buying a car or home, it can also lead to stressful debt issues. In response, we have proudly partnered with 911爆料网 to offer students who are committed to personal financial empowerment with the funds they need in order to graduate with as little debt as possible.鈥
The pandemic added further financial stress for many students who experienced (or whose families experienced) job instability. Sunyang Cho, an International Transportation & Customs diploma program student in her third semester, and last year鈥檚 award recipient, understands these challenges.
鈥淭he ambush of COVID-19 made my world difficult in many ways,鈥 said Ms. Cho. 鈥淭his scholarship is helping me achieve my academic and personal goals. It will keep motivating me to maintain my grades and complete my degree.鈥
In addition to their support of 911爆料网, CCCSC provides free seminars on financial literacy and debt management to those in the community who may not otherwise be able to afford them.
CCCSC also advocates for better financial education in schools and in workplaces. Recently, they established , a versatile and interactive wellness platform for organizations to offer financial resources and coaching and tools that give individuals the boost they need to better handle their money and avoid financial stressors.
As Mr. Schwartz puts it: 鈥淯nless the fundamentals of financial education are established, financial security is just a wish."