Postsecondary Careers

In the 2013-2014 school year, there were 2,048,019 students enrolled in a postsecondary institution, and of these students, 814,506 attended a postsecondary institution in Ontario (Statistics Canada, 2015). In recent years, news reports all over the country, even the continent reported that the amount of debt a postsecondary student has is tremendous. When students begin the postsecondary careers, they carry with them the financial status of their families. Some may be lucky enough to have families that can fully support their degrees or at least most of it, while others rely on student loans throughout their degree. The 2013-2014 school year saw 491,444 full time students given loans with 410,184 full time students receiving grants (Employment …show more content…
The report goes on to state that among those who decided to further their education, bachelor graduates were most likely to do so especially if they were in a field that they felt would not get them a job immediately after graduation (Statistics Canada, 2014). Of those who did not wish to further their education, over 90 percent of student graduates at the college, bachelor, master’s, and doctorate level had found a job within three years of graduating (Statistics Canada, 2014). Furthermore, the report points out that at the time of graduation, 50 percent of bachelor graduates across all of Canada relied on various types of loans to finance their education resulting in them having to repay over $26,000 (Statistics Canada, 2014). Bachelor graduates also had the lowest amount paid back within three years, only 34 percent had managed to fully repay their loans to the government (Statistics Canada, 2014). The report goes on to state that with the higher the education level a student receives, the larger the income they will make, but this also means paying back even more student loans (Statistics Canada, 2014). Doctorate graduates had to pay back over $41,000 in loans after graduation, although they did make the most post-graduation as well as paid their loans back the fastest out of all the various levels of graduates (Statistics Canada, 2014). In Ontario, OSAP allows you to continue to take apply for loans if you’re still in school without having to submit something other than an application for financial need. To continue to higher levels of education means, for a student who relies on loans, having to pay back so much more and waiting for a job that will be able to provide you enough to survive and pay the government back. But with