The Financial Consumer Agency of Canada’s (FCAC) “Building a Better Future Challenge” recognized two Queen’s psychology students for their efforts to assist postsecondary students in increasing their financial literacy when applying for scholarships.
Hannah Burrows, MSc ’25, and Flo Nusselder, ArtSci ’24, were recognized for their papers titled “Pedagogical Solution to Financial Illiteracy in Canada: Increasing the Accessibility of Higher Education.”
The project that led to the paper began in a 400-level psychology class in January and included contributions from Adrianna Armstrong, ArtSci ’23, and BEd ’24, as well as Alyssa Giovannangeli. Adrian Armstrong is currently a Master’s student at McMaster University.
Armstrong explained that the group was asked to study a topic in psychology they were passionate about. Following their collaboration, Burrows, Giovannangeli, and Nusselder created a project with six modules that covered subjects like financial literacy, navigating scholarship websites, creating resumes, and requesting letters of recommendation.
Their instructional approach is targeted at students in grades 11 and 12 who aspire to pursue higher education in Canada.
The team observed that Canada loses hundreds of millions of dollars in scholarship money each year. Whether individuals are entering postgraduate education for the first time, seeking funding for continuing their education or planning to return to school later, Armstrong said they hope to provide them with the knowledge they need to apply for these scholarships.
According to Armstrong, “We aim to provide them with all the resources and knowledge, boost their confidence, and ensure they feel capable of handling this and accessing those funds.”
Armstrong and Giovannangeli are both looking forward to future pilot programs in their former high schools that will test-run the modules and identify any potential program gaps. Armstrong mentioned that despite the best efforts of high school guidance counselors to provide individuals with the necessary resources, there is still a gap in the curriculum.
Armstrong credits the Dunin-Deshpande Queen’s Innovation Centre (DDQIC) for helping establish the QYourVenture group. Without the support of the DDQIC, psychology students wouldn’t have had access to the business and entrepreneurial training provided by the Center. The DDQIC has enabled the group to network with local investors to secure seed funding and develop their project into a viable solution.
The PSYC 100 textbook is built on the same platform that Armstrong, Burrows, and Nusselder are currently working on to move their project to Pressbooks.
Burrows and Nusselder will be featured at an FCAC event in November, designated as Financial Literacy Month. Additionally, the team has produced a video that will be presented at an internal meeting on November 29.
“They’re showcasing individuals who have excelled in this competition, but they’re also distributing this project across Canada, which is exciting,” Burrows stated.
Events like the FCAC’s “Building a Better Future Challenge” are significant because they provide networking opportunities while highlighting the inherent value of student initiatives. According to Nusselder, such events allow psychology students to showcase their adaptability and the breadth of their skills.
It’s an excellent way for us to emphasize the advantages of a psychology degree that are often overlooked in economic contexts, Nusselder concluded.
—Along with Violetta Zeitlinger Fontana reporting
Tags: Financial education, psychology, DDQIC, FCAC
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