Living away from home is rarely worth the debt

By Melissa Jarman. Long before acceptance letters arrive, students are faced with the first of many decisions: go away for school, or stay local and live at home. In fact, our 2013 Student Poll showed that nearly two-thirds (64 per cent) of postsecondary students planned to live away from home in the coming year. Students living away from home expected to take on more debt – $31,000 v. the $22,000 reported by students who intended to live at home. With rising student debt the subject of so much conversation and debate in Canada, it is interesting to see that so many students (and their parents) still plan to take on this additional expense when a viable, comparable education alternative to live and study at home may exist. More...