We all love free money, right? Well, if you're a grade 12 student in Canada, you're in luck because this is your chance to win a $5,000 scholarship for your post-secondary education. Credit Education Week is happening November 11-15th, and every year we host an essay contest where we ask grade 12 students: What's the dumbest thing you've done with your money and what did you learn from it? There are over twenty scholarships to be won, ranging from $500 up to $5,000 for the grand prize winner.
The deadline for essay contest submissions is October 15, 2019, which is coming up fast. So if you're interested in earning an extra $5k (and who isn't?) read on to learn more.
What is Credit Education Week?
Credit Education Week is a week-long event where the who's who of the Canadian credit industry—from financial institutions and credit bureaus to acclaimed personal finance authors and influencers—come together to teach Canadians everything they need to know about managing their credit and money to make their money visions and financial dreams come true.
Hundreds of community partners and industry leaders from across the country participate by hosting their own financial literacy events within their own communities. There is also the official Credit Education Week Launch and Professional Development Day on November 13 in Toronto where personal finance leaders will be providing free info sessions and education materials. This is a free event but you must register. (Click here to register and book your seat!)
This year, personal finance and budget travel expert, Barry Choi will be presenting at Professional Development Day, as well as resident money expert on CTV’s The Social, Melissa Leong, who will be our keynote speaker.
The week is then highlighted by the Credit Education Week Dinner Gala on November 14th where all essay contest winners are invited to rub elbows with Canada's financial leaders, and the grand prize winner reads their winning essay to gala attendees. Our keynote speakers for the Credit Education Week Dinner Gala will be TSN's Jay and Dan, and CTV's Pat Foran will be the evening's MC.
Essay Contest Details
The Credit Education Week Essay Contest runs from September 3rd to October 15th 2019, which means you've only got a couple of weeks to get your essay in. The contest is open to all grade 12 students across Canada who will be taking post-secondary studies in the coming year. All entries must be written in English or French and the essay cannot exceed 1000 words. Also, a word of advice: Make it funny. They say humour is the best medicine, and that is especially true when it comes to money-mishaps and learning from our own financial blunders. Click here to enter.
Money Mindfulness: Conquering Your Money Vision
This year's theme for Credit Education Week is money mindfulness and helping make your money vision a reality. A money vision is a goal you have for your money, whether it's owning your first home, attending university or college, building a retirement nest egg, or fulfilling your lifelong dream of living on an exotic beach. Whatever it is, it's important to have a money vision because it motivates you to stay on top of your spending and saving goals. If your money doesn't have a purpose, it's really easy to overspend on everyday items that don't add any real value to your life. So if you don't have a money vision, get one, and when you do, we can show you how to make it a reality with just some simple budgeting know-how and money management advice.
Submit An Essay and Win Some Money
And speaking of money visions, if you know a grade 12 student who could really use a couple thousand bucks for their post-secondary education, tell them about the Credit Education Week Essay Contest. Who knows, you could play a huge part in making someone's money vision come true. To learn more about Credit Education Week, visit cewc.ca.
Frequently Asked Questions
Have Question? We are here to help
What is a Debt Consolidation Program?
A Debt Consolidation Program (DCP) is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debts into a single, lower monthly payment. In Canada’s provinces, such as Ontario, these debt payment programs lead to faster debt relief!
Can I enter a Debt Consolidation Program with bad credit?
Yes, you can sign up for a DCP even if you have bad credit. Your credit score will not impact your ability to get debt help through a DCP. Bad credit can, however, impact your ability to get a debt consolidation loan.
Do I have to give up my credit cards in a Debt Consolidation Program?
Will Debt Consolidation hurt my credit score?
Most people entering a DCP already have a low credit score. While a DCP could lower your credit score at first, in the long run, if you keep up with the program and make your monthly payments on time as agreed, your credit score will eventually improve.
Can you get out of a Debt Consolidation Program?
Anyone who signs up for a DCP must sign an agreement; however, it's completely voluntary and any time a client wants to leave the Program they can. Once a client has left the Program, they will have to deal with their creditors and collectors directly, and if their Counsellor negotiated interest relief and lower monthly payments, in most cases, these would no longer be an option for the client.