I just came across some statistics about student debt loads. Apparently, the average debt of a bachelor degree receipient is $19 500. For college graduates, the average debt load at graduation is $12 600.
My debt load right now is actually startlingly close to that figure. But I hope that when I graduate, that debt load will be much, much closer to $0. (You can't get much closer to 0 than 0! Just kidding.)
I also read that the average cost of tuition for a four year undergraduate program in Canada is $17 000. Now, I'm not sure I agree with this figure. None of my friends are paying that little for undergraduate programs--even the cheaper, regulated programs. Just looking at my friends, (yes, I ask them how much they pay in tuition), the figure that all of us are looking at for tuition for four years is between $24 000 to $40 000, depending on the program. This is for tuition alone, so not including textbooks, rent, transportation, and other stuff.
Just thought that was interesting to compare myself and my friends to what statistics say is the average across Canada right now. (I'm rather surprised that, unlike typical Canadian fashion, these debt statistics aren't aggregated according to geography or program. Like, for instance, we typically note that tuition is highest out east, so why calculate the average debt load for the whole country and not province by province?)
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3 comments:
My undergrad student loan debt load was close to yours- around $12k. For my masters and phd I didn't have any more government student loan debt, but I did end up with a $15k student line of credit from the bank. Plus a consolidation loan which paid off my credit. Sigh.
Interesting though to compare. For my phd I did get a grant for tuition which was very nice!
I guess I was above average, because I had about $14k worth of student loan debt out of college.
When I eventually get my BA, it'll cost me another $13,000 for the 2 extra years of school. Uggg.
If they combined all post-secondary tuition costs into there to make the average, there's a lot of colleges and institutes to bring it down.
I'll have $40k coming out of college, including some loan forgivenes. Le sigh.
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