New ScotiaRISE investment is part of a longstanding partnership supporting 28,000 students in the child welfare system

TORONTO, Aug. 12, 2024 /CNW/ - Today, Scotiabank announced renewed ScotiaRISE support for Children's Aid Foundation of Canada to expand its Stay in School program across the nation. The $900,000, three-year investment will help 1,600 youth currently in Canada's child welfare system, to maintain their participation in high school and help them graduate and move on to higher education.

For youth facing difficult personal circumstances, the Stay in School program offers support and encouragement to complete high school and pursue post-secondary studies. The program provides access to tools and resources including tutoring, mentoring, technology, transportation, extra-curricular school activities and scholarships that help further educational experiences.

Support through ScotiaRISE allows Children's Aid Foundation of Canada to engage ten new partner organizations that will deliver the Stay in School program across the country with a focus on Indigenous-led youth-serving organizations. The program currently operates in British Columbia and Alberta, and is expanding its offerings to Saskatchewan, Manitoba, Ontario, Quebec and New Brunswick.

"We are pleased to continue to partner with Children's Aid Foundation of Canada to provide young people with the support they need to overcome barriers to graduation," said Meigan Terry, SVP and Chief Sustainability, Social Impact and Communications Officer at Scotiabank. "Through our ScotiaRISE social impact initiative, we are focused on supporting initiatives like the Stay in School program, reflecting our commitment to improving the lives of young people by empowering them to further their education."

"We are deeply grateful to Scotiabank for their ongoing investment in children and youth involved in child welfare," said Jeffrey Schiffer, Chief Impact Officer, Children's Aid Foundation of Canada. "Young people from care face unique challenges impacting their ability to access and complete post-secondary education. Intergenerational and lived trauma, inadequate resources for housing, challenges related to mental health, and the absence of a consistent network of supportive adults all pose significant barriers. Programs like Stay in School play an instrumental role in offering the resources and support needed to build stable and successful futures for youth connected to child welfare. Scotiabank's continued commitment enables the Foundation and our partners to continue to make meaningful impact, creating sustainable change in the lives of youth in care in Canada."

About ScotiaRISE

ScotiaRISE is Scotiabank's ten-year, $500 million commitment and social impact strategy aimed at improving high school and post-secondary participation and removing career barriers. ScotiaRISE also invests in programs that address newcomer economic inclusion, Indigenous culture and language reclamation, and urgent and basic needs, such as improving access to basic supports like food and water, shelter and medical care. Since program inception in 2021, ScotiaRISE has invested $102 million in funding globally for 200 organizations, helping individuals and disadvantaged groups at 1.6 million critical moments in time¹.

About Scotiabank

Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

About Children's Aid Foundation of Canada

Children's Aid Foundation of Canada is our country's leading charity dedicated to standing up for children and families involved in the child welfare system and standing alongside youth with lived experience. We raise and grant funds and deliver a wide range of high-impact programs and services in partnership with 114 child- and youth-serving agencies across the country. Last year, we supported over 16,000 children, youth, and families. Find out more at cafdn.org 

SOURCE Scotiabank