Student Debt in Canada

I’m sure this topic is not new to any student out there, but it’s true, the majority of us students are in debt and it’s not small $’s were talking about here. Student debt in Canada is rising with the average student carrying $28,000 in debt after graduation. I know it isn’t comparable to our American counterparts, but it’s still debt and it’s not helping when unemployment for university aged students is quite high.

Student Debt in Canada Infographic

I stumbled upon this infographic (I’m a huge fan, they just look so pretty) which shows student debt in Canada in a visual way. And here I thought Ontario students were worse off…Newfoundland & Labrador has student debt levels at an average of 37k. Overall it really troubles me how high the minimum student debt levels are in most provinces and the overall cost of a 4-year degree program in Canada overall (about $60k). What isn’t factored in below is the fact that there are even additional costs especially when you may have failed a course or had to take an additional year of school.

Student debt in Canada

Do you believe student debt is a serious problem? What can we do to fix it?

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  • This is interesting because usually these have to do with American student debt. I can’t believe how much tuition has increased! I’m in shock! Unfortunately wages haven’t followed suit.

    • I know I hadn’t seen a Canadian version until recently, it’s crazy how it’s really continuing to increase.