New $5000 university scholarship aims to help students make sense of dollars and cents

A new University of Tasmania Scholarship will encourage an education student to have a greater focus on the life-changing importance of financial literacy to their pupils.

Tasmanian-grown, customer-owned Bank of us established the scholarship as an initiative to support its goal to have positive impact for Tasmanians and their confidence with money.

CEO Paul Ranson said research recently conducted by the Bank showed many Tasmanians were not confident in managing their money and it was part of a broader national picture.

“We know times are challenging, but even small steps early on can be key to setting people up over their lifetime,” Mr Ranson said.

“We thought if we can inspire a future teacher about the importance of financial literacy, across their career that could have a positive impact for hundreds of young people.”

Applications for the annual $5000 scholarship are open until October 31.

To be eligible for the ‘Bank of us Scholarship in Financial Literacy’, applicants need to be a Tasmanian resident and intend to teach in Tasmania after graduating.

Earlier this year, Bank of us and the University of Tasmania signed a Memorandum of Understanding which contained a commitment to explore research opportunities, possible scholarships and support student experience, through programs such as work placement.

“Our bank is committed to having impact in two ways: to support greater levels of housing security for Tasmanians and to help people have greater levels of financial security,” Mr Ranson said.

“We know we are going to have the most impact when we partner with people and organisations who share those aspirations.

“Our growing engagement with University of Tasmania is a very good example of that idea coming to life.”