CST releases its 4th annual Beyond the Blue Line survey results as part of Education Savings Week
TORONTO, Nov. 23, 2016 /CNW/ - Hockey vs. Education. What side of the ice do Canadians stand?
Results from the fourth annual Beyond the Blue Line survey conducted by Leger for CST Consultants Inc, one of Canada's leading RESP providers, shows Canadians are still struggling to strike a balance between paying for the good ol' hockey game and other activities, versus other priorities such as education savings.
2016 Survey Results
Parents are still taking drastic measures to strike a balance
- Fewer Canadians (60%) believe that despite the cost of hockey, every Canadian child should have the chance to play because it is a part of growing up in Canada. It was 66% back in 2014.
- Just over one-third of Canadians are either pulling their own kids out of extra-curricular activities, such as hockey, to cut costs or know someone who is (34%). In recent years, hockey enrollment has been declining, with cost being noted as a prime factor.
- Canadians were more likely (29%) in 2016 to borrow money (credit card, line of credit, personal or family loan) or know someone who is borrowing money to put a child in activities such as hockey than two years ago (26%).
- Unchanged from last year, a small percentage (16%) are deferring or using their retirement savings, or know someone who is, to help pay for activities like hockey or dance.
"We know how important it is for parents to give their children a balanced education, and extra- curricular activities are a part of striking that balance," said Peter Lewis, Vice-President, CST Consultants. "Parents need to really take a hard look at their priorities when it comes to funding a dream that can truly make an impact on a child's life, and that includes helping them with their post-secondary education costs."
This year, according to Statistics Canada, the average university undergraduate tuition rose to almost $6,375. Meanwhile only half of Canadians have a Registered Education Savings Plan, despite government grants that offer as much as $7,200 in additional funding.
The survey also found 61% of Canadians believe it's important for parents to start saving for their child's post-secondary education before spending money on extra curricular activities like hockey.
For full survey results, tips on how to balance the costs of hockey and education as well as advice from Canadians that are living the hockey dream, visit www.beyondtheblueline.ca.
The Leger survey of 1,571 Canadians was completed online between November 7th to 11th 2016, using Leger's online panel, LegerWeb. A probability sample of the same size would yield a margin of error of +/- 2.5%, 19 times out of 20.
The Canadian Scholarship Trust Foundation is a not-for-profit organization that has been helping families save for post-secondary education for over fifty years. As a wholly owned subsidiary of the Foundation, CST Consultants Inc (CST) is the distributor and fund manager of the Canadian Scholarship Trust Plans.
SOURCE CST Consultants
For further information: Media contacts: Edyta McKay, CST Corporate Communications, Cell: 416-276-5001, [email protected]; Jennifer Palisoc, CST Corporate Communications, Cell: 416-602-2849, [email protected]