World economies are stalling, unemployment is growing and companies are laying off of staff to cut costs.
People world wide are looking for opportunities for employment and job security, and many are going back to school to better their chances.
In response many post secondary schools are gearing up to meet the demand.
The dark side of this expanding need for higher education is the cost of a good education is expensive and student loan debt is expanding at an alarming rate.
Some are young entering post secondary school for the first time , many are middle aged, out of work and looking to ways to becoming re-employed.
Middle-aged borrowers piling on student debt (Reuters) – Middle-aged borrowers are piling up student debt faster than any other age group, according to a new analysis obtained by Reuters.Educational borrowing is up for every age group over the past…
What effect will this exploding debt have on students that own the money, banks that have lent the money and an economy (and tax payers) may have to bare the cost of unpaid debt?
Student Loans: Debt Generation – ABC
Let hope that +$100,000 debt is not be the future you have to look forward to once you graduate from a Canadian post secondary school.
For more information regarding students loans in Canada …
- HRDC website at http://www.hrsdc.gc.ca/eng/learning/canada_student_loan/index.shtml
- Government of Canada Student Financial Assistance Estimator http://tools.canlearn.ca/cslgs-scpse/cln-cln/50/sfae-eafe/sfae-eafe-0-eng.do
- Provincial Government of British Columbia Student Aid BC website http://www.aved.gov.bc.ca/studentaidbc/