By the Numbers: Tuition, jobs, and student loans
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Toronto – February 8, 2017 – Post-secondary education has become a more prevalent job requirement in today's economy, causing young Canadians to take on record student loan debt in order to compete in the current job market. Nationally, average tuition fees have increased by more than 155 percent since 1990, while tuition fees in Ontario increased by 180 percent over the same period.
The number of jobs projected to be created between 2015 and 2024. Two-thirds of these positions will require post-secondary education.
Percentage of students who participated in paid internships and received a job offer post-graduation; compared to only 37% of those who participated in unpaid internships.
The current average cost in Canada (including residence) for a 4-year post-secondary program ($40,918 without residence).
The estimated average cost in Canada (including residence) in 2035 for a 4-year post-secondary program ($58,379 without residence).
The number of students in Canada in 2015 who took on private bank loans, on top of a student loan, to cover the cost of their education.
Percentage of families in Canada who do not have money saved for their children’s education (2014).
Percentage of parents who are borrowing more, using their retirement savings, or returning to work to pay for their children's post-secondary education.
Sources: Statistics Canada; Canadian Alliance of Students Associations (CASA) – Quick facts on post-secondary education in Canada; Knowledgefirst Financial - Guide to education costs