Interior Savings, a B.C. based credit union with locations in Merritt and surrounding communities, is promoting the tenth year of its Million Dollar Bursary Program, with half of the 1000 available $1000 bursaries still left unclaimed. The credit union is highlighting the high cost of post secondary education in B.C., coupled with rapid inflation, hoping their offering of $1000 will make a difference in the lives of local students.
The application for the Million Dollar Bursary is straightforward and designed to reduce barriers in accessing post secondary funding, according to Interior Savings. With an approval rate near 75 percent, both customers and non-customers 17-24 years in age are encouraged to apply, but an Interior Savings account is needed to receive funding. The credit union’s top executive said the organization sees the bursary program as a sound investment.
“The cost of living is taking a toll on many in our community,” said Brian Harris, Interior Savings’ CEO.
“Especially students, trying to keep up with the rising cost of tuition, rent, food and transportation. Our Million Dollar Bursary Program is not just an investment in the community, but in our next generation of leaders.”
The deadline for application is February 28, 2023, at which point adjudication will begin. Successful applicants will have until October 1, 2024 to use their bursary. Preference will be given to those graduating high school in the current academic year, but the bank said applications are mainly approved in the order they are received.
Interior Savings said in a press release that more than half of the bursaries had gone unclaimed with just weeks to go to the application deadline. With inflation in Canada at 6.8 percent last year, and no end to rising costs currently in sight, many students are seeking financial relief while continuing their education.
“With approximately half of the 1000 bursaries still available, anyone with students in their lives – in the Okanagan, Thompson Nicola and Prince George region – is encouraged to help spread the word, ensuring the bursaries are put to good use in the community,” added the release.
For more information on the Million Dollar Bursary Program, visit www.interiorsavings.com, or call the Merritt branch at 250-378-5181. Interior Savings Credit Union is located at 1959 Voght Street.