Should I go into debt for school?
Around 40-50% of students go into debt to pay for their education. But the appeal of getting cash now can potentially blur the reality of having to pay it off later. Canadians collectively owe more than $25 billion in government student loans alone (which doesn’t even include private loans).
The average university student is said to graduate around $26,000.00 in the hole. On top of that is the grim reality that a degree or diploma doesn’t have to same power to land you a job as it might’ve had decades ago. Don’t rack up debt without really thinking about it – make sure you know exactly what you’re getting into. Take the following steps to decide if going into debt is right for you: