07 Dec 2018
F&C Investment Trust is partnering with City of Glasgow College - Scotland’s largest college, designed for up to 40,000 students - to launch a new award. The winner of “The F&C Investment Trust Prize” (www.fcitprize.com) will be recognised for innovative thinking about their financial futures, via a competition to engage and inspire both students and faculty staff.
The Prize, which launches on 7 December, will showcase students’ financial understanding and ask them to unlock inventive ways to close the UK’s financial knowledge gap. The Winner’s Prize package includes £10,000 for their faculty to invest in research, innovation or development, personal career mentoring and recognition across the College's twin campus estates in Glasgow.
The competition runs from 7 December until 31 January, when responses will be shortlisted by a mixed judging panel including external experts, followed by a public vote before the Prize is awarded in February. Students and faculty staff will be encouraged to enter via a widespread campus campaign.
The judging panel will focus on entrants’ level of understanding, their creativity; and also how well they explain the idea. Entries can be: individual or groups; anyone with a City of Glasgow College Student ID; submitted in any creative medium from vlog to essay, video to podcast; should take no longer than 5 minutes to read/watch/listen to/consume.
About the competition
The F&C Investment Trust Prize invites City of Glasgow College students of any faculty to creatively answer one of three question categories:
Simon Fraser, Chairman of F&C Investment Trust, said:
“We’ve created ‘The F&C Investment Trust Prize’ with the City of Glasgow College because financial education is critical to provide young people with the skills and confidence to flourish in life. We want to help them understand why saving matters and also grasp how investing can help them reach their aspirations in the medium and long term. This new partnership is a flagship financial education project for us and the first of its kind in education. The Prize aims to encourage entrants to consider how their future lives can be made more financially secure. This is central to our ethos to help everyone develop economic literacy and financial resilience.”
City of Glasgow College Principal & CEO, Paul Little, said:
“As Scotland’s largest college, we are committed to equipping each and every one of our students with the core skills they need for the world of work. Being able to navigate the many challenges of the financial market place alongside making good financial decisions are essential elements at the heart of our curriculum. I’m thrilled to launch this unique Prize and hope it’s the first phase of a lasting partnership that will benefit students today and in the future.”
Winner(s)’ Prize Package
Industry research indicates that young adults know they should be proactive in managing their money, but often lack the knowledge of how to go about doing this and would welcome help - particularly about using credit and investments - to help them manage their money well in the context of their busy lives.
Facts about financial education in the UK*