Ontario students continue to pay highest tuition fees in country

Peterborough, ON, Canada / (CHEXTV)
Ontario students continue to pay highest tuition fees in country

It goes hand-in-hand with post secondary education…
Debt — and lots of it.
And as Mark Giunta tells us, a new report is giving parents an alarming wake up call.

“It’s very hard to stay on top of everything… all at the same time.”

Dawn Brier knows all too well what it’s like to be saddled with a large student debt.
She’s a single mother…
And while she found a job in her field…
She still had to look to her family for help to pay off the loan.

Dawn Brier:
“It’s very hard. You compromise. You give and take. Your bills have to come first. It’s very hard.”

According to Stats Canada, Ontario students pay the highest tuition fees in the country.
The average student pays more than 8000-dollars a year just to attend a post secondary institution…
Overall, tuition fees have gone up by 137 percent since 1991.

And to pay for it, many go the loan route…
The Canadian Federation of Students estimates 2.8-Billion dollars in loans will be handed out this year.
And if you’re a parent who wants to help out…
C-I-B-C says you would need to save 100-thousand dollars just to send one child to University for a four year degree.

Andrew Pyle – Senior Wealth Advisor, Scotia Wealth Management:
“We’re talking at least 500-to-1000 dollars a month. Each child you can put 50,000 into a RESP per lifetime. That’s half the battle. Make that your first target and ask yourself how do I do that to get my child to university.”

On November 2nd, students in communities across Canada will be organizing a Day of Action to demand changes for post secondary education…
Including universal access to public education without the fear of incurring massive amounts of debt.

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