Atlantic Canadians Carrying More Student Debt

A new report has revealed that over three quarters of Maritimers had to borrow money to get their degrees.

The Maritimes Provinces Higher Education Commission (MPHEC) recently released a report that shows a startling number of students have to go $45,000 in debt to finance their first degree.

“These results are yet another example of how the government has offloaded the costs of education onto the backs of students and our families through high tuition fees,” said Gabe Hoogers, Nova Scotia National Executive Representative for the Canadian Federation of Students – Nova Scotia.

The MPHEC’s report (titled Two Years On: A Survey of Class of 2007 Maritime University Graduates ) also points to the fact that 75% of degree-holding Nova Scotians went in debt to pay for their 2007 schooling. The average graduate borrowed $36,092 by 2009 and 31% of grads had to borrow $45,000 or more.

“Saddling youth in Nova Scotia with massive student debt does nothing to build Nova Scotia’s economy or deal with the looming issues of skills shortages and the out-migration of youth,” added Hoogers.

The MPHEC’s findings also showed that graduates who come from families with lower educational attainment were more likely to go in debt (and fall deeper in debt) than students with university or college educated parents.