A Bachelor of Bankruptcy Essays

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A Bachelor of Bankruptcy

It is quite evident these days that most students coming out of high school are moving on to pursue some sort of post secondary education. Whether it is trades at a local community college or the popular undergraduate degree in university, students are going to have to face some pretty expensive upcoming fees.

Generally this is viewed in a positive way, the pride associated with somebody graduating and going on to pursue post secondary education is a great thing and is highly encouraged by peers, family members and the government.

The government recognizes that not everyone is able to pay for schooling so they introduce a student loan by having strict rules on who is able to borrow this money and how much they receive. The economic objective of them doing so is to encourage investments in education. They see value in doing so, and thereby recognize that this will aid in long term economic growth with more people employed and higher living standards in the economy.

Although, with increasing tuition prices, increase of loans, and a decrease in personal incomes, debt is rising exceptionally for those who didn’t pay neither cash for tuition nor received a full ride in scholarships. This raises some question as to whether students will be graduating with more of a burden on their shoulders or an achievement to look back on and have no regrets doing.

Statistics Canada tells us Canadian full time students in Undergraduate programs paid 5.0% more on average in the 2012/2013 year in tuition fees than they did last fall. This follows a 4.3% increase in 2011/2012.

On average Canadian students paid $5,581 in tuition fees in 2012/2013 compared to $5,313 a year earlier. It is expected that tuition will rise on average to $7,330 over the next 4 years.

Not only are decisions to increase prices are unjust, unnecessary, and unintelligent, however they are going to have a negative long term effect on education because costs are going to increase so much that people will simply not be able to afford to go to school which therefore decreases demand for schooling.

A negative factor on the economy resulted by borrowing money is that students who borrow money from student loans are less likely to have future investments and put money toward savings. Only 42% of borrowers are likely to invest and save. This can
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