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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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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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Most students aim to earn enough money to support themselves through the academic year. But like many things in life, success comes in the details. If you don't plan for the expected and unexpected costs that post-secondary life can throw at you, your chance of success diminishes.
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TORONTO — Many of this year's new post-secondary graduates have left the academic world carrying tens of thousands of dollars in debt. Meantime, those heading to college and university this fall will...
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CHARLOTTETOWN — The P.E.I. government says it will forgive student loans for people who develop a severe disability after they borrow money. The changes are being adopted by the provincial Student Fin...
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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.
Many post-secondary school students will experience a sudden boost in their finances at the start of this school year as the government deposits their loan money. But the seeming windfall is hardly...
"We feel that we have a responsibility to change the narrative of apathetic young people or apathetic students."
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OTTAWA — Hundreds of thousands of university and college students walking onto campuses this week with help from federal loans could find themselves targeted harder than ever to repay billions of doll...
TORONTO — As students prepare to make the leap from high school to college or university, many may find themselves confronting some tough, new lessons outside the classroom. "Kids coming out of high s...
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Here's the bottom line: too many students are burdened with excessive student debt and that hurts all of us, so a solution must be found, and the sooner the better.
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When you're falling asleep isn't it always the thought of credit card debt that comes to mind? The best way to deal with that anxiety is with a plan. A plan to stop the bleeding money, set spending thresholds and eliminate that debt!
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Happy halfway through the year! How has your year been going financially? Did you get the promotion you were hoping for? Have you been paying down your debt and getting on top of your money? If the answer is no, that's OK, because we still have six more months to go until next year!
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I've heard the joke -- what's the difference between a large pizza and a history degree? One can feed a family of four. For the purposes of the pun, history can be replaced with any liberal arts major; however, history often gets an especially bad reputation for being particularly unemployable and well, pointless.
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It's time for students to take control of their finances, and the first step in doing that is becoming more knowledgeable. Melissa Jarman, director of student banking at RBC, says there's a lot of work that needs to be done to improve financial knowledge.
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As students prepare to head back to school next week, most people can imagine that they will be focused on studying and writing papers. However, today's students also face a new reality during the academic year: work. Currently, federal student loan policy actually punishes students, should they work 'too much'.
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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.
TORONTO - Getting a post-secondary degree can be an expensive endeavour, but a recent survey suggests that most students believe they'll be on track to pay off their student loans within five years of...
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Yes, academics must step out of their ivory towers and become more engaged with the public. But increasing teaching hours, reducing salaries and abolishing tenure are not solutions. Such moves will only create bigger problems.
Some Canadian university and college students are paying their way through school with the help of a website featuring "sugar daddies" willing to help pay their bills and loans in exchange for dates....
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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.
OTTAWA - A portable hard drive containing personal information on more than half a million people who took out student loans was left unsecured for extended periods and lacked password protection and...
Infographic by Alissa Scheller for The Huffington Post. What can a university degree and eight years of experience in customer service get you? For Samantha Ostrov, it scored her a rejection email fro...
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.
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.
TORONTO - Newly minted Training, Colleges and Universities Minister Brad Duguid is giving an "F" to a Progressive Conservative proposal to scrap a 30 per cent break on post-secondary tuition.But he's...
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.
OTTAWA - Part-time university and college students will no longer have to pay interest on their student loans while going to school.The Conservative government announced that as of January 1, 2012, th...
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.