[Flash Walken]

Originally Posted by Red

Those are mostly students, kids, Walmart Greeters or foreigners working at McD. It's tough, but it's not like these people are the bread winners in their respective families.

IMO it's the 40K factory workers that have families that need to break. Not students or high income earners.

Students are some of the highest debt carriers in the country, they absolutely need a break.

The average university student leaves campus with close to $28,000 in debt, and takes an average of 14 years to pay it off based on an average starting salary of $39,523, the survey suggested.

RateSupermarket.ca averaged entry level salaries for positions students are likely to get fresh out of school, plus a 3% annual increase. However, the survey does not account for tough job market conditions and unemployment.

Using Statistics Canada numbers from 2000, the survey suggested tuition costs today are $8,500 higher.

“Every part of the post-secondary experience has become more expensive, and when you take into account accrued interest on student debt and inflation, the results are quite shocking,” said Mr. Mangaroo.

The basement dwellers can expect their schooling to set them back a more modest $35,000.

“If the cost of living away at university continues to increase we can expect a lot more people to consider living at home as a viable option.”

RateSupermarket.ca also tracks mortgage trends in Canada. Mr. Mangaroo says university grads may be forced to hold off on big purchases like houses and cars.

“The average student graduates at 23 or 24, they’re looking to pay that off by 37 or 38,” said Mr. Mangaroo.

“As the housing market continues to increase it’s becoming much harder for first time buyers to get a mortgage,” he said. “Coupled with lingering student debt, life is getting harder and harder for young people.”

This is bad.