Why Get a Student Loan?
It may be hard to avoid college debt or university debt. With tuition and living costs constantly on the rise in Canada, getting a student loan is for many the only way to afford a diploma or degree program. Completing a program can be well worth the debt if it opens doors to desired career and life opportunities. However, there are alternatives. For example, working part-time during school or delaying school to work full-time can lower the loan amount you need. On the other hand, if this could have a negative impact on your educational goals, then it may be better to borrow more so that you can focus on school. Whichever way you go, do apply for as many scholarships, bursaries, and grants as possible. This is money you won’t have to pay back, so the more you get, the better.