The Government is fulling its promise to balance the budget in 2015. pursuant to its long-standing commitment to responsible fiscal management. Economic Action Plan 2015 will see the budget balanced and Canadians can rest assured that Canada's fiscal house is in order.
Undergraduate college student borrowing has risen dramatically in recent years. Graduates who received a bachelor’s degree in 20081 borrowed 50% more (in inflation-adjusted dollars) than their counterparts who graduated in 1996, while graduates who earned an associate’s degree or undergraduate certificate in 2008 borrowed more than twice what their counterparts in 1996 had borrowed, according to a new analysis of National Center for Education Statistics data by the Pew Research Center’s Social & Demographic Trends project.
Increased borrowing by college students has been driven by three trends:
ï‚· More college students are borrowing. In 2008, 60% of all graduates had borrowed, compared with about half (52%) in 1996.
- College students are borrowing more. Among 2008 graduates who borrowed, the average loan for bachelor’s degree recipients was more than $23,000, compared with slightly more than $17,000 in 1996. For associate’s degree and certificate recipients, the average loan increased to more than $12,600 from about $7,600 (all figures in 2008 dollars).
- More college students are attending private for-profit schools, where levels and rates of borrowing are highest. Over the past decade, the private for-profit sector has expanded more rapidly than either the public or private not-for-profit sectors. In 2008, these institutions granted 18% of all undergraduate awards, up from 14% in 2003.2 Students who attend for-profit colleges are more likely than other students to borrow, and they typically borrow larger amounts.
Other key findings from the Pew Research analysis:
- One-quarter (24%) of 2008 bachelor’s degree graduates at for-profit schools borrowed more than $40,000, compared with 5% of graduates at public institutions and 14% at not-for-profit schools.
- Roughly one-in-four recipients of an associate’s degree or certificate borrowed more than $20,000 at both private for-profit and private not-for-profit schools, compared with 5% of graduates of public schools.
- Graduates of private for-profit schools are demographically different from graduates in other sectors. Generally, private for-profit school graduates have lower incomes, and are older, more likely to be from minority groups, more likely to be female, more likely to be independent of their parents and more likely to have their own dependants.
Student Debt and the Class of 2013 is our ninth annual report on the cumulative student loan debt of recent graduates from four-year colleges. Our analysis of available data finds debt levels continue to rise, with considerable variation among states as well as colleges.
About seven in 10 (69%) college seniors who graduated from public and private nonprofit colleges in 2013 had student loan debt. These borrowers owed an average of $28,400, up two percent compared to $27,850 for public and nonprofit graduates in 2012. About one-fifth (19%) of the Class of 2013’s debt was comprised of private loans, which are typically more costly and provide fewer consumer protections and repayment options than safer federal loans.
Canadians are making sacrifices to prepare themselves for a changing workforce. Federal and provincial government
decisions are forcing students to take on more education related debt than any previous generation, while middle class
earnings have largely stagnated in the past twenty years.
Skyrocketing tuition fees and the prevalence of loan-based financial assistance have pushed student debt to historic
levels. This past year, almost 425,000 students were forced to borrow in order to finance their education. The aggregate of
loans disbursed by the Canada Student Loans Program, less the aggregate of loan repayments received is resulting in student
debt increasing by $1 million per day.
This policy paper addresses the experiences of Ontario university students who are either working in-study, working off-term, plan to work in the summer, and/or are in the process of seeking employment post- graduation. Student employment is an international concern, and provincially this is no different. The 2008 global economic recession marked a turning point for student employment that was reflected by a steady decline in successful employment attainment among post-secondary students in Ontario particularly during the summer months
Over the last twenty years, the public—through the federal government—has spent an increasing amount of money on student financial aid and education-related financial incentives. Driven by rising tuition and ancillary fees (coupled with stagnant middle-income earnings), the cost of pursuing post-secondary education has led an increasing number of low- and middle-income Canadians to rely on these programs. Each developed separately and at different times, the Canada Student Loans Program (CSLP), Canada Student Grants Program (CSGP), Registered Education Savings Plan (RESP), and education-related tax credits (Education and Tuition Fee Tax Credits [TFTC] and Student Loan Interest Credits [SLIC]) now cost the public over $4.2 billion each year, with an additional $2.5 billion given out in loans.
"I had a career," she told me, her eyes welling with tears. "I took care of my kids and myself, and I didn’t need anyone’s help … and now, I’m here," she said, referring to Oregon State University’s Human Services Resource Center, a facility for low-income students which I directed until last year. As she spoke, the floodgates opened, and I handed her a box of tissues. She told me she had not eaten and was worried about being evicted. She said she could not get a job to support her family without a degree.
Colleges and Institutes Canada’s (CICan’s) 2015 Survey of Institutional Capacity, Facilities and Equipment Needs confirms that colleges and institutes continue to be in great need of infrastructure support.
When she began her doctorate in social psychology at the University of British Columbia, Ashley Whillans knew that she wanted to study workplace happiness – or, more specifically, the benefits of time off versus more money in
relation to job satisfaction. She also wanted her work to have a real-world impact. To that end she began to wonder: what if, rather than seeking out the usual crowd of undergraduates as research subjects, she could collect data from
actual workplaces and in exchange she’d offer them her findings?
As the global marketplace becomes increasingly competitive and knowledge-driven the potential social and economic benefits of education have increased. As a result, the past few decades have witnessed an unprecedented expansion in the demand for post-secondary education (PSE) worldwide.
The Canadian Council on Learning monograph series, Challenges in Canadian Post-secondary Education, was launched in November 2009 as a means of examining the impact of this expansion on the PSE sector.
The government of Ontario has signalled the need for Ontario’s publicly funded universities to seek additional productivity gains while sustaining access and quality in light of fiscal constraints. It has identified differentiation as a key policy driver to achieve these goals.
Implementation of these provincial directions likely involves consideration of how universities deploy their faculty to meet their differentiated teaching and research mandates. In fact, a preliminary examination by HEQCO of productivity in the Ontario public postsecondary system suggested that how universities deploy their faculty resources may be one of the most promising opportunities for universities to increase their productivity (HEQCO, 2012).
Programs that allow foreign workers to occupy positions in Canada have existed since the 1960s and were formally introduced in legislation in the 1970s. While they generally focused on skilled workers, they were expanded to lower-skilled occupations in 2002.
While generally considered beneficial from an economic perspective, foreign workers have received significant public attention in recent years. This is the case especially in relation to foreign workers occupying low-skilled positions, considering that most unemployed Canadian workers would meet the minimum requirements to fill these jobs satisfactorily.
The 2016 Canadian National Postdoctoral Survey (the 2016 Survey) is an outcome of the collaboration between Canadian Association of Postdoctoral Scholars (CAPS-ACSP) and the Tri-Council granting agencies (Canadian Institutes of Health Research, Natural Sciences and Engineering Research Council and Social Sciences and Humanities Research Council). The content of the 2016 survey leverages the results from two earlier National Postdoctoral Surveys1 and a CAPS-ACSP 2014 report2 developed in collaboration with Social Sciences and Humanities Research Council (SSHRC), which highlighted the professional development needs of postdocs in the Social Sciences and Humanities.
Colleges and institutes play a lead role in strengthening regional capacity to innovate and work with industry partners to enhance competitiveness in the sectors and communities they serve. They conduct leading-edge applied research projects with industry partners to provide market ready solutions.
Whether it’s the creation of a rapid oil containment cling pad to clean up small scale oil or fuel spills, the development of intelligent textiles to meet consumer specific needs, or building award winning cutting edge web technology, colleges and institutes help small- and medium-sized businesses (SMEs) innovate and grow by focusing on improvements in technologies, processes, products and services.
The Government of Canada’s Tri-Council College and Community Innovation (CCI) Program administered by the Natural Sciences and Engineering Research Council in collaboration with the Social Sciences and Humanities Research Council and the Canadian Institutes of Health Research is making a real difference in growing the capacity of colleges and institutes to engage in industry-driven applied research and providing SMEs with the expertise required to be more innovative and productive.
ACT has been measuring college readiness trends for several years. The Condition of College & Career Readiness
is ACT’s annual report on the progress of the graduating class relative to college readiness. This year, 54.3% of the graduating class took the ACT® college readiness assessment. The increased number of test takers enhances the breadth and depth of the data pool, providing a comprehensive picture of the current graduating class in the context of readiness levels as well as offering a glimpse of the emerging educational pipeline.
When a person enrolled in university in 1967 he or she entered a world barely recognizable to most students today. There were tow mean for every woman student. Many university facilities such as Hart House at the University of Toronto, were off limits to women, as wee many prestigious scholarships such as Rhodes.
Yet while the university world of that era was far more sexist, today's students - 60 per cent of whom are women - can gaze back at it with envey.
This report analyzes the economic impact of post-secondary education (PSE) in Canada. It is one of three foundational studies by The Conference Board of Canada’s Centre for Skills and Post-Secondary Education. The report considers three kinds of economic impact: spending in the economy (either directly by PSE institutions or indirectly through tourism and other channels), human capital formation, and intellectual capital formation. The report develops a bottom-up approach to understanding impacts, from the PSE institutions to the broader economy.
This report analyzes the economic impact of post-secondary education (PSE) in Canada. It is one of three foundational studies by The Conference Board of Canada’s Centre for Skills and Post-Secondary Education. The report considers three kinds of economic impact: spending in the economy (either directly by PSE institutions or indirectly through tourism and other channels), human capital formation, and intellectual capital formation. The report develops a bottom-up approach to understanding impacts, from the PSE institutions to the broader economy.
Arguably, the greatest barrier to the academic development and functioning of Ontario's twenty-two Colleges of Applied Arts and Technology (CAATs) is the hostile and suspicion laden relationship which exists between management and the union which represents the academic staff of the CAATs - the Ontario Public Service Employees Union (OPSEU). This was the conclusion of the commission on workload in the CAATs which I chaired in 1985 (IARC, 1985) and was corroborated in a study of CAAT governance by a Special Adviser to the Minister of Colleges and Universities the following year (Pitman, 1986). An indication of the degree of concern felt by the Ontario Government regarding management union relations in the CAATs is that the largest (in terms of time and resources) public commission on the CAATs to date has been the Colleges Collective
Bargaining Commission (Gandz, 1988).
This study assesses the economic and financial benefits for individuals and the province of Ontario of implementing a coordinated, province-wide credential and credit recognition and transfer system for Ontario college graduates enrolling in a university undergraduate degree program in the province. The study demonstrates that there are solid economic and financial reasons to develop such a system. It also recognizes that the current patchwork transfer framework results in significant instances of inequity for students and that an enhanced system will encourage more students to pursue the higher education that matches their interests and skills. It will also reduce the number of students who feel compelled to leave Ontario to continue their education. The study recommends a Made-in-Ontario solution to address the fundamental equity and fairness concerns of students, to simplify administration for post-secondary institutions, and to strengthen our economy by providing educational opportunities for the workforce this province will need to compete and prosper in the global economy.