The value of an education can’t be measured by money alone. Although it comes at a price, post-secondary education isn’t as much a cost as it is an investment – one that returns a wealth of opportunities for a rewarding career.
That’s what a group of inspired people believed when they founded Knowledge First Foundation over 50 years ago. They knew from their own experience the significant role education playing in their lives. They also recognized how educated young people could play a major role in the life of our country. Today, Knowledge First Foundation continues to be the sponsor and promoter of the Flex First Plan and Family Single Student Plan.
Reinvesting in Students
Knowledge First Foundation was incorporated federally as a not-for-profit corporation in 1990 with no shareholders. The Foundation has no shareholders and is therefore able to reinvest net revenues in initiatives that support students such as:
- Education Assistance Payments enhancements for student beneficiaries: One key way the Foundation delivers value to our customers and students is by supplementing payments to students from available net revenue. To date, the Foundation has contributed over $50 million towards EAPs.
- Scholarships: For students pursuing graduate studies, the prospect of acquiring debt can be a very real obstacle. The Foundation recognizes the challenge and has awarded, more than $1,500,000 to students in recognition of their outstanding academic achievement and contributions to community.
- Canada Learning Bond: To help give low-income families a head start towards saving for their child’s education, the Foundation is funding an initiative for Knowledge First Financial to help 10,000 additional families receive CLB over the next three years with a flexible, no-cost, CLB-only plan.
The Foundation is committed to encouraging the pursuit of post-secondary education through the sponsorship and promotion of education savings plans. Supplements to Educational Assistance Payments and funding for initiatives like scholarships are discretionary. Each year, the Foundation carefully considers factors such as investment returns, the number of student beneficiaries receiving EAPs and the strategic needs of the business, to determine if they will make a payment and how much the payment will be. These discretionary funds enable the Foundation to further deliver on its commitment to support students.