Question

Give a brief overview of the student debt in Canada. Include some statistics and relevant data

Answer 1

This is just an brief overview of student debt in Canada:

Canadian are making sacrifices to prepare themselves for a changing workforce.Government decision force students to take more education debt.The reason behind this crisis is the stagnant earning of middle-class canadians.

A National Graduate Survey conducted by statstics in canada revealed that while government loans are common source of debt for students,27% of the graduates from the class of 2009-10 used non-government loans and 25% relied on both government & non government debt.

In sep2010,the total amount of student loan owned to the government reached $15billions.

In year 2012-13 over 47000 students were forced to borrow in order to finance their education.Student debt in canada is in crisis because their are negative consequences of more & more young people taking debt in higher amount.

As of the 2016-17 school year m.canada student loans was administring a portfolio of $18.2billion dollars in loans.student loan debt reached at highest state of $1.41 trillion in 2019.

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