Quote:
Originally Posted by TheSutterDynasty
What are the limiting requirements? It seems pointless if it's based on parental income. Isn't it only capturing that small group between 'parents can pay for tuition' and 'I need to work to put food on the table'?
|
Means testing is pretty common. If you or your parents have the means to pay for your education you don't qualify for loans. Personally speaking, that is why I never went to university right after high school. It would have put undue pressure on my parent's finances and I did not want that to happen. So I waited until later in life to go to school and amass a very substantial amount of student debt to make that happen. And I did it while working and putting food on the table at the same time. I thought of it as part of the challenge of earning a degree and being a responsible adult.
Quote:
|
There's also the fact that thousands of Canadians then have crippling student loans to pay off. And despite their increased earning potential it still takes an absurd amount of time for some.
|
Crippling student loans? Perspective is everything. The average debt for a Canadian student is just over
$22,000. Compare that to the US where the average student holds
$37,000 in loan debt. Canadians who have a full time job have an average hourly wage of
$28.94, compared to
$22.62 for their American counterparts. So in comparison, not quite as bad as you make it out to be.