Paige Desmond
The financial crisis, which some had predicted might bypass Canada, instead looks to be settling in despite optimistic first impressions.
The stocks and investment plummets are indiscriminating, leaving no investor untouched.
Universities, colleges, and other post-secondary institutions are no different—as their endowment funds, which provide the cash for things like scholarships and bursaries, typically are invested for growth.
Often, financial assistance for students can determine whether or not they can afford to attend school, or at the very least impacts their quality of living.
But despite the fact Confederation College’s campus here falls into this investment category, Reg Jones, vice-president of Corporate Services, said local students will not be affected.
He admitted the college’s investments have taken a bit of a hit on the market, but not so much as to negatively-impact future finances.
“The current [financial] climate is impacting it,” he noted. But, “we have a very diversified portfolio,” which should offset any adverse economic results because the college does not have all its eggs in one basket.
Jones added although he doubts students will directly see a loss as a result of the recession in terms of less scholarships or other financial incentives and awards, “we’re all concerned” about the current market flux.
For the moment, however, “I don’t think it will affect students,” Jones said. “It should not impair our ability to pay bursaries next year.”
A solid endowment fund is good news for the college, which celebrated record enrolment locally this fall with 102 full-time students.
