Saving More Than Money

The frenzy of a household with five children under the age of 12* is bound to cause anxious moments for parents. But throwing a college program into the mix and a huge amount of debt, the stress would feel insurmountable.

It’s real life for one of our Bow Valley College students. They weren’t sleeping or eating, felt shame and fear. They couldn’t even confide in loved ones about how overwhelmed they were.

Thankfully, they found our Financial Empowerment team in Student Services.

“They were reluctant to file for bankruptcy but eventually took that step and ended up debt-free within nine months,” says Blanquita Rebolone de Colley, Financial Empowerment Coach. “The changes I witnessed in this student were incredible. Not only did their mental and physical wellbeing improve but also their relationship with money.”

November marks the 15^th annual Financial Literacy Month (FLM) in Canada. As part of FLM, Bow Valley College is raising awareness about a little-known bursary that is changing the lives of our students.

The Matched Savings Bursary Program provides students in need the opportunity to invest in savings and educational asset-building while engaging in money management education. They commit to saving between $20 and $50 per month (for four months), and participate in workshops on budgeting, banking, credit, assets, and consumerism.  

Those who complete all workshops and save the required contribution would then “graduate” and receive a 3:1 Matched Savings Bursary, a Certificate of Participation, and 11hours toward their Co-Curricular Record for their personal portfolio.  Their total savings and matched savings would then be used towards an asset that helps them complete their education at Bow Valley College.  

Those assets include tuition and fees, books and school materials, a laptop or tablet, childcare, contributions to children’s RESP, debt repayment, and emergencies.

“The students I meet are beginners, but they are hungry to learn. Most have entered adulthood unprepared for financial realities like managing debt. They are grateful for the opportunity, eager to take charge of their financial wellbeing, and are surprised to be rewarded for saving their own money,” says Rebolone de Colley.

In 2023,48 students participated in the Matched Savings Bursary Program, 40 in 2024,and 31 in 2025, so far.

Read more in Maclean’s magazine about Bow Valley College Early Childhood and Education Development student, Jinah Jeong, a recipient of the Matched Savings Bursary: What I Spend Each Month as an ECE Student in Calgary.

“It’s never too late to learn money management. The impact of financial literacy may not be immediate, but it is a life skill with long-term benefits that are far-reaching and lasting, says Rebolone de Colley.

The Matched Savings Bursary is funded by the United Way of Calgary and Area through Aspire Calgary. Aspire Calgary is a financial empowerment collaborative of not-for-profit organizations that provide financial literacy, and financial wellness support to low income Calgarians. Students interested in applying for it should contact Student Services.

*Details changed to protect privacy.

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