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Originally Posted by darklord700
A noble notion that is hardly practical in reality. What is the incentive for people to contribute to their kids' RESP if they know that their tuition will be borne by other taxpayers?
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Two completely different situations though - money is invested in the kids RESP in order to help the child pay for tuition. This money is not expected to be paid back. The Government of Alberta also puts money into this for every child born after 2005 I believe.
The student loan is also intended to help students pay for tuition, especially in cases where they otherwise couldn't afford it, however it is expected to be paid back after schooling has taken place, with some small deductions. Rest assured though, it is a loan and not a free ride through school. Heck I would be on board for a free ride if it resulted in a contract with students in some high demand who upon successfully graduating sign a contract to work in Alberta in said profession for the next 10 years after graduation at which point they would no longer have student debt.
Okay so now look at how much that the average university graduate makes relative to a high school graduate over the course of their careers and all of the reduced costs to the government and society associated with higher educational achievement. There is tangible benefits to the government investing in education now and for the long term.
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I grew up middle class and I'm also middle class now. Grades aside, the notion that's deeply ingrained in me is that if my folks can't pay, I can't go to college. And if I can't pay, my kids don't get to go go college neither. And there're a lot of subsidies, grants and loans that would help eligible students finishing their degrees. Maybe they'll need to work a few shifts at Walmart during their college years but that's just life. There's no free ride.
Like I said before, my kids and I are probably gonna benefit from this unnecessarily but I still don't like this.
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So essentially if you are born poor, regardless of how smart you are and your scholastic achievements, you are likely destined to stay uneducated because those are the breaks, after all there is no free ride in life.
Although I do wonder who this will really benefit as most people I know in University already have student debt, I guess there are some who are now eligible, such as myself, but I would prefer not to go into debt over the course of my education and work my ass off in order to do so. However as I progress and my course load becomes heavier I don't know if it will be feasible for me to continue to work for 30 hours ever week, especially with clinicals in which I am in a hospital for 36 hours each week, plus class time and research. In total I would say that I work at least 80 hours on the average week. You may tell me that is life, but at the same time it does get tiring very quick.
That being said back to the books I go.