Student debt in Canada

STUDENT DEBT $ %$4 IN CANADA TUITION Between 199o and 2010, average tuition fees for post-secondary education in Canada increased four-fold from: The total cost of a post-secondary education - including tuition, school supplies, housing, and other expenses - is roughly $14,500 a year, or close to $60,000 for a four-year program. (Statistics Canada) $1,271 $5,139 = $1,000 Average undergraduate tuition per year in Canada is: $5,366 DEBT More than 60 % of current post-secondary students will graduate with student debt. By the end of September 2010, student debt exceeded nearly: $15 billion -$40,000 and growing - higher than the debt of some provinces. %60 $20,000 The Canadian Federation of Students estimates that average student debt is almost $28,000 A recent poll showed that: 58% of post-secondary students who borrow to pay for their education expect to graduate with nearly $20,000 in debt while 21 % expect to owe more than $40,000. According to the Canada Student Loan Program, most students take 10 years to pay off their loans. DEBT BY PROVINCE Newfoundland and Manitoba: $21,564 Labrador: $35,703 Saskatchewan: $31,061 HIGHEST average debt Ontario: $26,480 Alberta: $25,698 Quebec: $15,195 LOWEST average debt New Brunswick: $34,413 British Columbia: $29,497 Nova Scotia: $35,642 SOURCE: http://www.ufcw.ca/ By the numbers: Student debt in Canada