Gaps in post-secondary participation have not narrowed despite better
financial aid
The report shows that wealthier Canadians are twice as likely to go to university as poorer ones. Other gaps, such as those separating the educational outcomes of Aboriginal and non-Aboriginal Canadians, are also stubbornly persistent.
While these gaps persist, governments are spending a significant amount of money providing financial aid to post-secondary students:
- The average amount of need-based aid increased by 20 percent, or $1,750 per recipient, between 2004 and 2007. - Canadian governments now provide more than $4.4 billion worth of student loans, grants and loan reduction payments to students with financial need (2007-08 figures). - Need-based aid received by students as a non-repayable grant or loan remission payment made up 34 percent of total need-based aid in 2007-08, the highest proportion ever.
Unfortunately, the provision of money is not enough to equalize participation for all Canadians. The report shows that financial barriers to post-secondary participation are compounded by other factors, such as socio-economic conditions, academic performance, individual behaviour (e.g., motivation, aspirations, etc.) and environmental conditions (e.g., the distance one lives from a post-secondary institution). Nevertheless, it goes on to suggest that a modernized student financial aid system could be part of a comprehensive strategy to improve access and student success.
The report provides updated figures on the value of a post-secondary credential, the costs facing students and the resources available to them, as well as levels of student debt.
Click here to download a copy of The Price of Knowledge. http://www.millenniumscholarships.ca/en/research/PriceKnowledge.asp
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For further information: For further information: Jean Lapierre, Communications Director, Canada Millennium Scholarship Foundation, (514) 284-7235, (514) 213-2262 (cell), [email protected]
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