Some Facts About Post-Secondary Education
No matter how you look at it, a post-secondary education can come with a staggering price tag. The good news is that if you start saving early with a Plan offered by Knowledge First Financial, you can take advantage of the power of tax-deferred savings and that will help you prepare to afford the costs of post-secondary education and reduce or even eliminate the burden of debt that many students carry today.
Some facts about student debt and post-secondary education
- Almost 6 in 10 students rely on financial support from their parents, family, or spouse for funding their current year.
- About 4 in 10 students report using university-based scholarships, financial awards, or bursaries to finance their education.
- The proportion of graduates who borrowed for post-secondary education (PSE) increased from 49% to 57% between 1995 and 2005.
- The Canadian Federation of Students estimates the average debt for university graduates is almost $27,000.
- The average Canada Student Loan debt alone has increased 18% over the last five
- For 2008, university graduates on average earned 70% more than high school or trade/vocational program graduates.
- In 2009, 82% of adults 25 to 64 with PSE were employed, compared with 55% of this age group with less than high school education.
For more information about the cost of a post-secondary education, download a PDF of our 2012 Guide to Education Costs in Canada.
(1-2) 2011 Undergraduate University Student Survey (Canadian University Survey
(3) The Financial Impact of Student Loans (Statistics Canada, Jan 2010)
(4) The Canadian Federation of Students 2012
(5) Canada Student Loan Program 2011
(6) Education Indicators in Canada: An International Perspective (Statistics Canada,
(7) Education Indicators in Canada (Statistics Canada, Feb 2012)