Student Loans

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It's Time For Canada To Embrace Free Tuition

Our post-secondary system is broken, and must be changed. At one time, a summer job could pay for one's college or university costs. Prime Minister Justin Trudeau's yearly tuition bill in 1995 was $1,694, while Premier Kathleen Wynne paid $637 in 1967. That era is over thanks to a lack of political leadership. It is time for a new generation of students to fight for a better system.
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This Is How You Pay Off Your Student Loans In A Year

According to the National Student Loan Centre, it takes an average of 9 years for Canadian students to pay off their student loans. Although these figures may seem slightly alarming, don't fret! It's possible to repay your student loans in a relatively short period of time (in my case, $17,000 in just one year). Here are 5 simple, effective strategies to successfully start paying down your student debt.
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5 Money Hacks for Reducing Student Debt

The average Canadian comes out of school with around $27,000 worth of debt and, based on an entry level job, the monthly payment will take up a significant amount of your disposable income. When I graduated, I traveled Europe for three months and then bought my first condo. It was all because of the steps I had taken when I was in school. Make sure that you sow the seeds of your financial success now.
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This Is How You Plan For College and University Debt

If you know you are about to be attacked, why not beat the other side to the punch? The same philosophy works with student debt. Build up a solid defense against it by working part time and saving money throughout the next 3-4 years. This way, when that debt tries to attack you after graduation, you'll be armed with a sizable nest egg you can use to pay down the principal.
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Want to Close the Skills Gap? Start Talking to Young People

I strongly think the skills gap is well documented, but it's clear that there is another "gap" between what economists are saying about the data, and what our members at the Canadian Chamber of Commerce are saying about their real-time experiences in cities and towns nationwide. If we are serious about closing the skills gap in the future, young people and their parents need to be much better informed about employment and income prospects when deciding on post-secondary education.
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Is Going to University a Waste of Money?

Is college or university a waste of money? For some people it is, for others it is a great investment. The point is that you should crunch the numbers and carefully consider your decision up front, so many years from now you are not looking back wondering how you will ever pay off that massive student loan.
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Do Today's Gen Y Students Have Too Much Ambition?

The younger portion of Generation Y -- the students still roaming college campuses -- must work at a breakneck speed in order to create the lives that they desire. If they sit at home and relax, then their degree will net nothing more than a full-time gig at Starbucks, or so they say. Thus, there is increasing pressure to make oneself suffocatingly busy, setting aside virtually no free time for creative activities. We are caught in a cycle of one-upmanship: volunteer more, study harder, work longer hours.
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Should You Repay Your Past? Or Save for Your Future?

In the wake of May's bond market rally from heaven, administered rates have seen additional downward pressure into June. GIC rates have extended their decline, while Canadian mortgage rates are downright juicy. Given this environment, it's no surprise that Canadians are uncertain as to whether they should be paying down debt instead of building investment nest eggs.
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Generation Poor

For the last couple of years my husband and I have been living on the edge. We're not skydivers or stunt pilots or Cirque du Soleil performers. We're simply your regular children of baby boomers, navigating a crappy economy and a world of student debt, all the while aspiring to do what we love.