Almost two-thirds of Canadian parents say they cannot afford the soaring costs of sending their children to university, a poll by BMO Financial Group found, while a separate survey said students are graduating with double the debt of 20 years ago, reports Sharon Singleton for the QMI Agency.
The costs of a four-year undergraduate course at a Canadian university currently runs at about $60,000 (US$58,145), BMO said. Only 21% of parents surveyed said they could pay off that amount with confidence.
Parents are also not taking full advantage of the savings options available to them, with only 52% of parents with a child under 18 contributing to a registered education savings plan, the poll of 1,582 Canadian adults found.
Full report on the Toronto Sun site
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