Wealthsimple Foundation donation funds new $20,000 student entrance scholarship

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Wealthsimple Foundation scholarship cheque presentation

George Brown College and Wealthsimple celebrated our ongoing partnership with an event at the company’s head office and the announcement of a $20,000 gift that will fund a new student award. 

Wealthsimple and the Wealthsimple Foundation as a community partner currently hosts GBC students for work-integrated learning opportunities and hires our graduates. Now, the company is strengthening its ties to the college by funding an entrance scholarship that will provide $5,000 in funding each year for four years (find full details below). 

Recently, a team from George Brown and the Student Association visited the Wealthsimple headquarters in downtown Toronto to celebrate the scholarship announcement and to get a first-hand look at the impact our students and alumni are having in their respective industries. George Brown President Dr. Gervan Fearon attended with George Brown Vice-President, Advancement and Foundation President Dr. Cindy Gouveia; George Brown College Foundation Board of Directors member and Wealthsimple Foundation President and CEO Leen Yong Li; Wealthsimple CEO Mike Katchen; and recent George Brown graduate Layo Folami who works at the Wealthsimple Foundation as a Community Engagement Coordinator. The Student Association Director of Operations Dhwani Bhalavat and Director of Communications Sri Krishna Rajan also attended. 

“We are proud to partner with Wealthsimple, a Canadian fintech success story that provides rich work-integrated learning experiences for our students and great career opportunities for our graduates,” Fearon said. “Thank you to the Wealthsimple Foundation for this generous gift that showcases our shared passion for providing access to education and opportunity.” 

Removing barriers to post-secondary education 

Li sits on the George Brown College Foundation’s Board of Directors as Chair of the Finance and Investment Committees. She’s also the President and CEO of the Wealthsimple Foundation, an organization dedicated to breaking down barriers to post-secondary education through financial education, funding student bursaries and helping modest-income families access Canada Learning Bond funding. 

“As an employer, I’ve seen first-hand what GBC students and graduates can do. And as a member of the GBC Foundation’s Board of Directors, I understand the vital role the college plays in preparing the next generation of industry innovators and leaders,” she said. “The Wealthsimple Foundation is dedicated to removing barriers to higher education. We’re pleased to invest in student success and strengthen our partnership with George Brown.” 

How to apply 

The Wealthsimple Foundation CLB (Canada Learning Bond) Entrance Scholarship will be available starting in the 2022/23 academic year. The recipient will receive a $5,000 award each year until the 2025/26 academic year for a total maximum value of $20,000. 

To be eligible for this award students must meet the following criteria: 

  • Be enrolled in the first year and first semester of any full-time George Brown College program and 
  • Have applied for or will apply for a Canada Learning Bond to be used towards their George Brown College studies. 

If the student recipient completes their program before the $20,000 is disbursed, the remainder will be disbursed to another eligible student who will receive an annual award of $5,000. 

The Canada Learning Bond (CLB) is money that the government adds to a Registered Education Savings Plan (RESP) for children from modest-income families. 

Eligible students can apply for this award by visiting the How to Apply for Awards and Scholarships Page

GBC business grad launches exciting career path at Wealthsimple Foundation 

Morolayo Folami recently graduated from the Digital Media Marketing program at the Centre for Business. She completed her program co-op at the Wealthsimple Foundation and continues in the role. Folami expressed gratitude for the supportive environment and community at GBC that set her on a path to success. 

Read about Folami’s path from George Brown student to Wealthsimple Foundation marketing professional. 

At the event, she spoke about her passion for supporting access to education and her pride in working with purpose-driving organizations.  

“I’m so honoured to be able to have this opportunity from both George Brown and the Wealthsimple Foundation to share my experience,” she said. “I know the impact that financial support can have on the pursuit of post-secondary education. I think this award shows the dedication of both organizations to bettering the lives of students and to truly break down barriers to education.”