Filed Under:Life Insurance, Life Planning Strategies

Canadian students relying less on family to finance higher ed

According to the Canada Student Loan Program, most students take nearly 10 years to pay off their loans, with some taking the maximum 14.5 years.
According to the Canada Student Loan Program, most students take nearly 10 years to pay off their loans, with some taking the maximum 14.5 years.

Canadian students expect, on average, to graduate with $26,297 in debt and expect to pay it off in 6.4 years, a new report from BMO Financial Group shows.

The “2013 BMO Student Survey” conducted by Pollara, and based on online interviews with 602 students enrolled at a post-secondary institution this fall shows that students are relying less on their parents to finance higher education.

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Nichole Morford

Nichole Morford
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