BMP and RBC have indicated that the average student debt is over $26,000 and the interest on private loans and credit cards is likely to be higher than on federal student loans.
Student Debt Statistics In Canada →A student loan is a sum of money borrowed to cover the costs of post-secondary education, including college expenses and other related costs. The primary purpose of student loans is to finance living expenses, books and supplies, and tuition while the borrower is pursuing a degree. Loan payments are often deferred during the time the student is in college and for several months after graduation.
View eligibility details of merit-based scholarships for undergraduate, graduate and postdoctoral studies →Making financial decisions – including around budgeting, taking out loans or investing – can be daunting, and many college students feel ill-equipped to do so.
Financial Literacy: What College Students Need to Know by Sarah Wood →According to the national average of searches, student loans are the most Googled financial topic, with 2,441,000 searches on average across the US.
The most googled financial topics by state →At the national level, full-time graduate students paid, on average, $7,437 for the 2022/2023 academic year, whereas undergraduate students paid $6,834. This represents a 1.7% and 2.6% increase, respectively, from the previous year.
Tuition fees increase for Canadian undergraduate and graduate students →Attending university is the first time that many Canadian students get to practice real-life budgeting.
Best budgeting tips for university students in Canada →← Curating the web to find the most interesting and helpful information about your money.