Student Debt Analysis

Kids are stuck with massive student loans because they can take anything they wish including degrees that don’t lead to jobs. The result is that university graduates fill community colleges, nearly 50% in Toronto, to learn employable skills. In Canada, youth unemployment is officially 12.6%, but in some parts of the country - such as Toronto, Vancouver, and Montreal, it is 18%. Meanwhile, Alberta and Saskatchewan and mining regions are begging for welders, laborers, engineer-technologists, machinery operators and many other skilled tradesmen. The mismatch of having inappropriately educated kids in the major cities and jobs that only foreigners can fill in other parts of Canada is partially a product of our education system. It costs us, in the simplest terms, GDP (if you care about

In the article “It’s Time for Canada to Embrace Free Tuition” written by Bilan Arte is talk about the government should decrease the tuition of the university students. In my opinion, the government should decrease the tuition, but not the too much. The reason is more and more international student wants come to Canada for study in the university, but they have not got enough money pay for the tuition. Therefore the tuition can stop some international students the dream of university. In the other way, high tuition may stop some genius’s plan to work for the Canada government. This may make the Canada society develop slowly. Finally, student can use the money which the difference between the high tuition and the low tuition and they can more

In their essay, “The Uses and Abuses of University,” history professors Ken Coates and Bill Morrison explore the heightening disconnect between the concept of supply and demand. In their examination of university degree output versus realistic economic need, the notion explicated is that the Canadian post-secondary education system is burdening students and the economy with tremendous failure. Furthermore, by addressing the imminent strain to attain career relevant positions post graduation, the realized result of overqualified intellects accepting low-income jobs or facing unemployment is portrayed. Geared towards institutions, parents, and those with a passion for education, the candid discourse aims to guide the collective educational wheel back to where it originated. Coates and Morrison employ the use of a personal narrative, credible statistics, and a thoughtful then versus now contrast in order to make the point that the current university system is essentially failing students.

“The average class of 2015 graduated with student-loan debt will have to pay back a little

My first reason why all students should receive free education is that tuition is supremely expensive and sometimes unaffordable. Some families are struggling to pay off tuitions due to not good enough jobs, or even the family may have many kids with tuition waiting to be payed off. “ As a result, 36 per cent of Canadian parents surveyed with children under the age of 25 say they will need to delay their own retirement. College or university tuition fees fairly cost anywhere between 20-30 thousand dollars!

1. To solve the rising costs of post-secondary education, the Liberals suggest the solution is to make education more affordable and student loans more manageable. For young Canadians striving to contribute to the economy one day, the biggest problem is the out-of-reach prices for higher education. Families, especially in the lower and middle class are struggling to save for their children’s education fees for years. Many lower-income families may not provide any support and their children must bear with the weight of hectic student loans. On one hand, there are the worries of families; however on the other the federal government offer no direct help for students with non-refundable tax credits, costing billions each year. To solve this, the Liberal Party will provide direct help and change the maximum Canada Student Grant for low-income students. Full time students will have an increase to $3,000 per year and part-time students will have an increase to $1,800.

Post secondary education should be free to those deserving in Canada. Cost-of-living expenses are high enough, Canada strongly promotes free education and this will provide equal opportunities for all individuals. Firstly, living expenses can range from $5,000 to $15,000 per year! On top of that, students must consider the cost for post secondary school as well. Furthermore, this will ensure Canada's future will have a well educated workforce. If this becomes a rule in Canada, high school students will have initiative to work harder if they do not have to pay. Lastly, 63% of Canadians students to do not attend a secondary education due to high expenses. Knowledge does not come with a price tag! The cure to cancer could be inside the mind of

Again, as mentioned in the article above by Solty, the boards of governors that consists of the banks also support the rise in tuition, and they also state that, “by raising tuition fees but focusing on increased financial assistance of those in need, post-secondary education institutions will be better-positioned to prosper and provide world-class education and research (Marshall, 2012).” Since the boards of governors want this increase in tuition to weed out the good seeds from the bad seeds who deserve a higher education, this leads to the economy either having a higher rate of unemployment, or a higher rate of debt troubles for students who are doing their studies following these increases. Not only is the tuition increased, but the interest on top of the tuition costs will increase with it, and by the time these students finish their undergrad, they will be in a heap of debt and it will take up to 14 years to pay this off, which Marshall claims as “life-time slavery”. This also does not include the certainty that these students will even get into a career with the Bachelor’s Degree they graduated with in university, mentioned in Marshall’s article quoting the Globe and Mail, “once they complete their degrees, there are fewer jobs around that pay the kind of money that allows grads to seriously whittle away at their debt; this massive debt for students in Canada is ‘bankrupting a generation of students” (Marshall 2012). Therefore, the students are striking against tuition raises because they know that when the government starts raising the tuition and they also start to privatize health care, pension plans, and

As a young grade 12 citizens living in your riding, I am graduating in June 2018. It frustrates me and my family on the cost of post-secondary education. Tuition for undergraduates has increased for 2017-2018 undergraduate programs by 3.1%. The average tuition has increased to $6,571 against $6,375 in 2016-2017. Tuition should be accountable by the federal government. Canadian students should get tuition for free or at a cut. As I have observed older generations in post-secondary, the challenge many faces is education cost. It is already durable enough to maintain a busy lifestyle for a student;

In today’ society, in order to be successful people is told that they must go to post- secondary and get a degree. With the average tuition cost for a four year undergraduate is $5,959 (statistics Canada,2014), for the 2014 to 2015 school year, most people cannot afford to pay that tuition out of pocket. The Canadian and Province governments offer student loans for students but that puts them heavily into debt. The average student debt is between $24,000 and $27,000 (Sagan, 2014, 5). The best way to help students get a good education, so that they can go far in life is to eliminate tuition costs at post-secondary intuitions. Eliminating tuition cost would be very beneficial to students, but there are many different ways of eliminating tuition, in Ontario they are using the grant system, France and Germany also used a different way of eliminating tuition. Eliminating tuition though the grant system greatly

Free tuition for college and university students! Yes, I said free! In February 2016 Ontario’s Liberal of finance minister Charles Sousa announced that, low income and some middle class families will be eligible for free tuition grants (torontoist.com). This will include funds for transportation, books, living expense and more. School is very costly, so this is a great step in increasing the number of students who will attend post-secondary education. There will be a good and negative effect for having free tuition. There will be less student debt, but should students from previous years get student loan forgiveness and free tuition will increase the cost of alcohol and natural gas, just to name a few (ctvnews.ca).

Dependent students are allowed to borrow $32,000in federal loans over the course of their undergraduate career. For those deemed sufficiently needy, $23,000 of this total can take the form of subsidized loans. A student cannot take out this full amount in a single year; there are also annual limits on borrowing (of $2,625 to $7,500 depending upon the student’s undergraduate standing) (Financial Aid Office, 2013).

In some countries, such as Finland, everyone receives equal and free educational opportunities. Kids all throughout Finland will have great educational opportunities equal to some of Europe’s finest schools (Kaiser). According to Robert Kaiser, all children gain equal opportunities and attend great schools. Meanwhile, in America, the costs of colleges are increasingly expensive. The total cost for a 4 year private college on average is 173,282 dollars for four years (Center for Personal Finance Editors). With higher taxes, the government can pay for college and make the whole college experience free. Moreover, If college tuition and housing became free from taxes, citizens would only have to pay for a few things. College books would be the most expensive thing to purchase for college, but they are relatively cheap at around twelve hundred dollars in comparison to an expensive tuition (How Much Does it Cost to go to College?). High taxes would benefit the average student here in America as they would only need to purchase books and food. With this new acquired information, it can be seen that if a government takes high amounts of taxes, it is helpful as all education would be

I have calculated the total costs of my student loans, including interest, for a 30-year payment. That is currently the best option because I have not yet received any news from the various scholarships that I applied to. For Howard University, I might take around $97,040 for a four-year loan and pay back $180,344 over 30 years. For Hawaii Pacific University, I could take about $107,028 for a six-year loan and pay back $198,906 over 30 years. For Humboldt State, I might take $110,892 for a six-year loan and pay $206,087 over 30 years (Student). Howard University is still the best option for loans. These costs will likely go down when I receive scholarships. My goal is receive scholarships to pay for most or all of college.

Every year we are facing the reality of increased tuition, books and utilities as well as related living expenses. To meet up these essentials most of the student in Canada fall in the trap of long term debt, the so called government funding program e.g. OSAP. However, options for funding in one’s education varies from person to person. In this assignment our purpose to highlight the some inevitable issues like effects of high education cost on society, possible sourcing of funding for higher education, and finally to analyze the effects and outcomes of most common liability of debt like OSAP. In the way of constructing our assignment we will analyze the issues to solve the following three