Let OSAP teach financial management

By Julienne Bay. How students on scholarship could learn to manage their debt.
Please note that this article has been revised with updated information about OSAP's six-month grace period and average student debt.
An average Canadian full-time undergraduate student in the 2012-13 academic year paid $5,581 in tuition fees, according to Statistics Canada. That is five percent more than the previous academic year, which in turn was 4.3 percent higher than the year before that. Despite rising tuition fees, enrolment in postsecondary education shows no signs of slowing down. In 2012, more than a million students confirmed their acceptance to first-year undergraduate studies, according to the Association of Universities and Colleges of Canada. That figure doesn’t include college applicants. More...