10 Canadian Grads Receive $4,000
Through Fairstone’s Next Step Financial Award Program
Montreal, QC (June 7, 2018) – Fairstone is pleased to announce the first 10 recipients of their new national financial award program, Next Step. The program was created to help Canadian college graduates manage some of the expenses that can come after post-secondary education.
These 10 grads are getting ready to start their career after college, and will do so with the help of $4,000 from Fairstone:
- Mark Murdoch – Memorial University of Newfoundland
- Riley Kitchin – NSCC Kingstec
- Carolyne Dupuis – Université de Sherbrooke
- Vicky Lemay – Université du Québec à Trois-Rivières
- Chelsea Paquette – Canadore College
- Jacky Tran – Western University
- Frankie Jones – Mohawk College
- Jami Letain – Nothern Alberta Institute of Technology
- Chris Crevier – Nothern Alberta Institute of Technology
- Kianna Friesen – Winnpieg, Manitoba
View the winner’s submissions here.
“We are very proud to be supporting young Canadians as they leave school and enter the workforce,” said Scott Wood, President and CEO, Fairstone Financial Inc. “At Fairstone, we understand the complex and often intimidating experiences people have with finances, particularly during times of transiton, such as graduation. Giving a financial award to these driven grads, helping them stay on top of their finances as they take their next steps, is something our whole company stands behind.”
Fairstone will stay in touch with award recipients throughout 2018 to learn about their financial situations and how the award is making a difference in their lives. “Through the Next Step program, Fairstone’s aim is to not only support young Canadians, but also to learn about and share some of the financial challenges they experience, and the tips they have for future students, to promote financial literacy,” said Wood.
If this can become a medium for us to not only support young Canadians but also to learn real, relevant financial tips from today’s graduates, and share this information back with our communities to promote financial literacy, the Next Step program will be a success for us,” said Wood.
Canadian student debt statistics:1
|% College students||% Bachelors’ degree students|
|Percentage of graduates with some form of student debt||43%||50%|
|Average amount graduates owe||$14,999||$26,300|
|Average debt three years after graduation||$12,400||$18,600|
|$25,000 – the debt amount classified as “large,” or causing substantial financial burden for most graduates, according to government-financed student debt organizations|
1Source: Statistics Canada, National Graduates Survey, 2013 (Class of 2009-2010).
Fairstone is Canada’s leading non-bank provider of responsible lending solutions. With roots in Canada since 1923 and over 220 branches coast to coast, Fairstone provides personal loans and home equity loans designed to suit today’s borrowing needs. Fairstone also partners with a wide network of businesses to deliver flexible consumer financing programs. Fairstone is proud to make a difference in the communities where we live and work, because community matters. Learn more at Fairstone.ca.
About the Award Program
Submissions for the Next Step financial award program were accepted between March 19-April 13, 2018. To enter, students who graduated from Canadian colleges between May 1, 2017 - April 30, 2018 submitted videos of themselves explaining how they would use the award. Submissions were weighed by a national panel of Fairstone judges, with the top 10 receiving awards. The annual Next Step award program will run in Spring 2019.
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