Quote:
Originally Posted by New Era
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.
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. |
Great statistics.
Now we just need to work in some money management courses into all those university years so people stop buying new cars and pay down their debt instead.
So $29/hour salary is ~$58,000. I'm assuming that's gross so say $50,000 net (generous). In my 'cheap' days, I was paying about ~$2500/month for groceries, gas, rent, etc etc (and I never ate out, and considered myself extremely frugal if not cheap). So with that salary I would be saving about $20k / year.
Really doesn't seem so bad with those stats. Thanks for the links. I listen to friends who still haven't paid off debt and read sites like Reddit and I think you hear about the people who are bad with money but not the ones who are good with it.