A poll of post-secondary students who borrow to pay for their education suggests 58 per cent expect to graduate with close to $20,000 in debt while another 21 per cent expect to owe more than $40,000, the Bank of Montreal said Friday.
The poll done for BMO done last month also suggests more students – 27 per cent – are most stressed about paying for school, higher than the 22 per cent who rank their biggest worry as finding a job or the 20 per cent who have as their top concern getting good marks. Read More…
The real issue isnt the debt as it is the ability to secure a descent job to help pay off that debt. Most jobs are not as assured with a degree these days and so carrying upwards of $100,000 in debt is not uncommon for most of your adult life.
That is where students are concerned.
Degrees and pHds are overrated. You talk to those who have it and they say it was not important in getting a job. No one looks for it. Just have the competence (sound like you know your stuff) and you have the job. You can get it by reading books that are freely available at stores and online. Done.
Why all the fuss. $20,000 debt is actually not that much when you think about it and the return on investment from getting out there in the workplace. Stop whining.
The real winners are the banks. In the past it was so much more through big banks that they didnt care if you paid back your debt since the government would pay it to them. Now i think Canada handles it all itself, saving us, the tax payers, more in the long term.
Why offer loans in the first place? If they can’t afford to go to school maybe they shouldnt at all. That is how i see it.
Students are stressed over everything. This is just yet another excuse to care when its to that big a deal. When i was in school my yearly cost was around $6K. It hasnt changed much. What is no surprise is students want to live away from home and play and so the cost goes up even more.
The funny thing is i ended up using a lot of my loan on stuff that i didnt need since loans also include not just for school but living (and incidentally, partying) money.
It’s about students becoming more responsible.