VANCOUVER, Sept. 16 /CNW/ - There is no sign of tuition fee relief for
cash-strapped BC families as average fees reach $4,800 at BC
universities, according to a new study released today by Statistics
Canada. For the ninth consecutive year tuition fees in British Columbia
"Education in BC is a debt sentence for tens of thousands of families,"
said Nimmi Takkar, Chairperson of the Canadian Federation of
Students-British Columbia. "This study confirms what we all know:
tuition fees have never been higher. It's not coincidence that student
debt in BC is also at record levels."
Average student debt in British Columbia is estimated to be $27,000.
With compound interest over a ten-year repayment period, that figure
balloons to $34,365.
The Globe and Mail reported earlier this week that Canada's household
debt to net worth is the highest on record, as new graduates struggle
with unprecedented levels of credit card debt and student debt.
A study by the Organization for Economic Cooperation and Development
(OECD) released earlier this year showed that Canada's tuition fees are
among the highest in the world as a share of the national economy.
Tuition fees are the single largest expense for most university and
college students, and are increasing more than any other cost faced by
students and faster than inflation. Record high tuition fees are an
example of the shift in what average families pay out-of-pocket for
"In 2009 the StudentAid BC budget was cut by 28%. In 2010 total tuition
fees in BC will surpass what is collected in corporate income tax. Add
the HST to the picture and average families are paying more and getting
less," said Takkar.
The Canadian Federation of Students is composed of 150,000 students in
British Columbia from 17 university and college students' unions.
Post-secondary students in Canada have been represented by the Canadian
Federation of Students and its predecessor organisations since 1927.
SOURCE Canadian Federation of Students - British Columbia
For further information: For further information:
Nimmi Takkar, BC Chairperson at 604.733.1880 or 778.846.5424 (cell)
Ian Boyko, Research and Communications Officer at 604.733.1880 or 778.686.7939 (cell)