Free Tuition by Jon Glass

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Free Tuition by Jon Glass
February 8th, 2019

            Tuition costs are getting out of control. Free tuition should be available to all students. Free tuition is great because it allows students upon completing their program, the opportunity to have maximum earning potential in their desired field, without a portion of income going immediately back towards a large sum of debt. Furthermore, by removing tuition costs, the amount of money saved from paying the colleges and universities can be put back in to the economy.

            According to Statistics Canada, the average student tuition cost for an undergraduate program is $6, 838. Over an entire 4-year degree that works out to $27,352 per student in debt before they have even graduated and started benefiting from their degree. For the 2018/2019 school year, tuition for undergraduate programs has increased of 3.3% over the previous year.

            It seems that the gateway to receive an education that will increase career opportunities and in turn potentially higher income, is to already have money. According to an IPSOS poll, 67% of Canadian graduates had some form of student loans or related debts thanks to the cost of education. The average length of time expected to pay off the amount of debt students are taking on is nearly 5 years.

            Furthermore, the IPSOS poll says that nearly half of all students with student loan debt have to delay a home purchase. With the rising cost of home ownership, having to delay a home purchase due to student debt will in turn create greater debt due to inflation costs and a more competitive housing market. This has the potentially to have a large impact to the overall economy. A 2018 report from RBC says housing affordability is at its worst since the 90’s, and has the potential to get worse moving forward.

            We need to put an end to the ridiculous cost of tuition and start thinking about the future of the new generation. With rising tuition costs, and people unable to afford to buy a home, the economy is about to collapse. If we don’t take action now, it maybe too late.

           
           

Comments

  1. Sara EzzatFebruary 21, 2019 at 2:36 PM

    Good piece and I really like your last paragraph. Such passion.

    ReplyDelete
  2. Denis CrewsFebruary 22, 2019 at 2:44 PM

    Having to pay off student debt for five years is unfair to students who have just endured financial hardship during the course of their education. This doesn't give them a fair start in life.

    ReplyDelete
  3. Emma BouckFebruary 22, 2019 at 3:27 PM

    You have some great points! Especially we the cost of housing in Victoria, it's nearly impossible to pay off student loans and pay rent.

    ReplyDelete
  4. Cody GannonFebruary 24, 2019 at 7:03 PM

    Really good piece Jon! I cannot believe that 67% of graduates had some form of student debt. It is such a shame because of that debt, people are missing out on economic milestones such as building a house and starting a family. Great points!

    ReplyDelete
  5. lucasgrosseMarch 5, 2019 at 10:26 AM

    It's crazy that over half the students that graduate end up with some form of student debt!

    ReplyDelete

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