All Posts Tagged With: "student debt in Canada"
How Canadian university students are paying their bills
The typical Canadian university student spends four years blowing borrowed money on clothes, music and liquor, right? That may be the stereotype, but it’s not the reality. The Canadian University Survey Consortium’s 2012 study of more than 15,000 graduating students shows that six in 10 are working, the vast majority pay off their credit card bills each month and only one-third have more than $20,000 in debt. Here’s an infographic that shows how students are paying their bills.
One-fifth expect $40,000
From The Canadian Press:
Most college and university students who take out loans to pay for their studies expect to graduate with more than $20,000 of debt, a new study suggests.
The BMO survey says that about half of post-secondary students are taking on debt for school, and 58 per cent of those with loans expect to owe upwards of $20,000 when they finish school.
One-fifth, or about 21 per cent, expect to graduate with more than $40,000 in debt.