Maybe they didn’t think of this back in 2006 when the province scrapped mandatory retirement.
Ten years later, baby boomers in big numbers are blowing past the old retirement age of 65, some working into their
70s.
They can defer pensions for a while, but at 71, they’re forced to collect work and government pensions along with
their paycheques.
Who would want to work that long? You might be surprised.
n 2014, StudentsNS welcomed its first non-university member: the Student Association of the Nova Scotia Community College Kingstec Campus in Kentville. This report explores fees, funding and accountability structures at the College, as well as student financial assistance to college students. We seek to identify opportunities to improve or expand access, affordability, student voice and quality of education, with an emphasis on the first three values in particular. We find that the Nova Scotia Community College has prioritized access and affordability and delivered important outcomes, attracting more students from communities that are traditionally underrepresented in post-secondary education, and notably mature learners. The College also has relatively low cost programs because of their shorter length and lower fees. However, College students’ debt levels remain higher than the national average, are leading to elevated default rates and have been neglected by the Province as compared with university students’ debt. In terms of student voice and accountability, the College and the Province need to work harder to ensure transparency to the public and meaningful student participation in decision-making. We identify a number of modest policy changes that the College and the Province could pursue to address these challenges and help the College better serve Nova Scotians and deliver on its mandate.
Executive Summary
The main objective of this report is to learn about the state of knowledge regarding the role of
financial literacy as a complex barrier to postsecondary attendance.1 To achieve this goal, the
report contains a literature review of existing studies in the area, as well as an environmental scan of existing programs and initiatives. When possible, the focus of the report is on low-income high school students in the context of making decisions regarding postsecondary education. In this ideal setting, financial literacy will be defined as knowledge of all the costs, benefits, and available aid associated with postsecondary education. In reality, there are few studies and existing programs that fit this ideal profile. However, we have identified several studies that share these characteristics to a large extent. Specifically, we describe and discuss 21 related studies and 34 related programs. Although most studies and programs are Canadian, we also broaden the scope somewhat to include countries with similar postsecondary systems as Canada (e.g. the United States, the
United Kingdom, Australia, and New Zealand). Our literature review focuses on Canadian and American evidence, and has uncovered several important findings. First, the cost of a postsecondary education is vastly overestimated by the public at large and by low-income youth in particular. In contrast, the economic benefits to attending university are generally underestimated (equally for low- and high-income households). Whether knowing about the costs and benefits matters for pursuing a
postsecondary education is less clear given the lack of convincing evidence in this area.
While awareness of student financial aid is not necessarily an issue, it appears that knowledge of aid is limited. This may be related to the complexity of student financial aid, which is not only costly, but may also represent a barrier to some students.
A non-negligible portion of students are loan averse, which means that they will avoid grant opportunities when they are coupled with an optional student loan. This is the case even though the loans can be refused or invested at zero repayable interest.
Research also demonstrates that helping students complete their financial aid and postsecondary application forms has a large impact on application and admission rates. In contrast, offering information to students (without application assistance) is generally not sufficient to affect behaviour. Finally, once in university, the majority of undergraduates follow a budget and regularly pay off their credit card balance each month. This suggests a certain degree of awareness and control regarding their finances, which may help them repay their loans on time and avoid defaulting.
The main objective of this report is to learn about the state of knowledge regarding the role of financial literacy as a complex barrier to postsecondary attendance. To achieve this goal, the report contains a literature review of existing studies in the area, as well as an environmental scan of existing programs and initiatives.
When possible, the focus of the report is on low-income high school students in the context of making decisions regarding postsecondary education. In this ideal setting, financial literacy will be defined as knowledge of all the costs, benefits, and available aid associated with postsecondary education. In reality, there are few studies and existing programs that fit this ideal profile. However, we have identified several studies that share these characteristics to a large extent. Specifically, we describe and discuss 21 related studies and 34 related programs. Although most studies and programs are Canadian, we also broaden the scope somewhat to include countries with similar postsecondary systems as Canada (e.g. the United States, the United Kingdom, Australia, and New Zealand).
Our literature review focuses on Canadian and American evidence, and has uncovered several important findings. First, the cost of a postsecondary education is vastly overestimated by the public at large and by low-income youth in particular. In contrast, the economic benefits to attending university are generally underestimated (equally for low- and high-income households). Whether knowing about the costs and benefits matters for pursuing a postsecondary education is less clear given the lack of convincing evidence in this area.
While awareness of student financial aid is not necessarily an issue, it appears that knowledge of aid is limited. This may be related to the complexity of student financial aid, which is not only costly, but may also represent a barrier to some students.
A non-negligible portion of students are loan averse, which means that they will avoid grant opportunities when they are coupled with an optional student loan. This is the case even though the loans can be refused or invested at zero repayable interest.
Research also demonstrates that helping students complete their financial aid and postsecondary application forms has a large impact on application and admission rates. In contrast, offering information to students (without application assistance) is generally not sufficient to affect behaviour.
Finally, once in university, the majority of undergraduates follow a budget and regularly pay off their credit card balance each month. This suggests a certain degree of awareness and control regarding their finances, which may help them repay their loans on time and avoid defaulting.
Despite great diversity in community colleges across the nation, most are facing declining resources that threaten to cripple the quality of programs and services provided. The Great Recession exacerbated trends that were already obvious in many colleges, including dwindling state appropriations, shrinking property values, and demands to restrain tuition increases to protect our long-cherished mission of accessibility. In many cases, rural community colleges have been hardest hit due to aging, tax resistant populations, barriers rooted in generational poverty, and shortage of growth-oriented businesses and industries. While resources have declined, deferred maintenance has increased, resulting in deteriorating buildings, laboratories that do not reflect industry standards, and infrastructure issues ill-suited for training skilled workers who can compete in our high tech, global society.
PwC has been retained by Colleges Ontario to provide an independent assessment of the fiscal sustainability of the Ontario college sector over the next decade to 2024-25.1 To that end, we have analyzed the current fiscal condition of Ontario’s 24 public colleges (collectively referred to hereafter as “colleges”) and conducted interviews with senior executives at each college to augment our understanding as to how recent economic and demographic trends have affected colleges’ financial condition, as well as the challenges and opportunities they foresee, for their respective college, over the course of the next decade.
A decade ago, few universities thought strategically about their brand. Now, as the market for academic talent, funding, and recognition heats up, the need has become acute. Universities recognize the necessity of building appreciation for what makes them unique. Yet while some universities may be regarded as “great” brands, most aren’t. And it may be because of the ways in which higher education approaches branding.
As the cost of college has risen, so has the number of students who are struggling to meet their basic needs. In one
recent survey, more than one in five students said they had gone hungry in the past month. Close to one in 10 said
they had been homeless at some point in the past year.
Three rising juniors describe how they made it to college despite lacking steady housing, regular meals, and the
tools to complete their high-school assignments.
In early 2015 the government of Ontario announced that it would be conducting a review of the processes by which it funds universities. In order to best capture the needs of those that consume, deliver and fund higher education, the government has commissioned extensive consultation with parents, students, universities, employers, agencies, and sector experts. This submission will serve as a summary of the Ontario Undergraduate Student Alliance’s contributions to those discussions, as well as a statement of our principles in the area of funding priorities that could benefit students.
In early 2015 the government of Ontario announced that it would be conducting a review of the processes by which it funds universities. In order to best capture the needs of those that consume, deliver and fund higher education, the government has commissioned extensive consultation with parents, students, universities, employers, agencies, and sector experts. This submission will serve as a summary of the Ontario Undergraduate Student Alliance’s contributions to those discussions, as well as a statement of our principles in the area of funding priorities that could benefit students.
For a guy hauling around almost $300 billion of debt, Charles Sousa was in a buoyant mood. Ontario’s finance minister had just announced that families making less than $50,000 would soon have free post-secondary education, and when we spoke, it was as if he were daring me to find fault in the idea. After all, he said, the Liberals were removing a critical barrier to higher education, the
looming threat of a massive student debt. The idea was instantly applauded by a syllabus of education groups.
Strong culture, strong impact focuses on the role of culture in driving high-impact entrepreneurship in G20 countries. The report provides actionable recommendations for governments and a clear, time-bound path for achieving support for young entrepreneurs. Our report, released alongside this year’s G20 Young Entrepreneurs’ Alliance (YEA) Summit in Turkey, builds on our Avoiding a lost generation reports. It drills down on the one driver that is at once omnipresent, yet difficult to quantify or capture, for an entrepreneurial ecosystem:
entrepreneurial culture.
Jenny: For much of the history of the Career Talk column, we’ve focused on faculty careers. But in the coming months, we are going to turn to a different topic, and explore the career paths and concerns of M.A.s, A.B.D.s, and Ph.D.s who opt for careers in campus administration.
Julie: Let’s start with the hiring process. How does it work? What application materials will you need? How is it different from a faculty search?
First, it’s important to understand that, while all colleges and universities have similar missions, they operate in very different ways. Administrative offices may have come into being organically or strategically. The same office — say, international programs — may report to university life at one institution but to the provost at another. When you start applying for a particular administrative position, it’s wise to figure out the office’s place within the institution because that will affect the way you write your letter and contextualize the job.
According to the Ministry Education-supported Student Transition Project, about 30,000 B.C. high school grads enrol in post-secondary institutions each year.
Of that number, 17 per cent eventually earn a bachelor’s degree and 21 per cent earn certificates or diplomas of one kind or another.
But post-secondary education, especially a university education, doesn’t come cheap and doesn’t always fulfil its promises.
University tuition and other costs, including books and living expenses, for a Canadian four-year university degree can average more than $60,000, according to BMO’s Wealth Institute report.
Skills shortages1 have regularly been identified as one of the top 10 barriers to competitiveness in Canada by the Canadian Chamber of Commerce, costing the Canadian economy billions in lost GDP annually.2 There is now a rare consensus about skills
needs and challenges in this country, across the demand and supply perspectives.3 An aging population will only
exacerbate the problem in the coming years, especially for the most in-demand professions in the
skilled trades and STEM-based occupations (where STEM refers to science, technology, engineering
and math).
With this report the Canadian Chamber of Commerce focuses on the role of the education-to-employment transition in mitigating or aggravating the skills gaps. Specifically, this report addresses the ways in which all stakeholders, including government, employers, workers, education providers and students, will need to adapt and collaborate to improve the efficiency of
the labour market.
One in three students globally is enrolled in private higher education institutions, according to research that reveals the huge growth and wide reach of private providers.
The analysis, the first study based on comprehensive data on the size and shape of private higher education internationally, finds that private institutions have 56.7 million students on their books, or 32.9 percent of the world’s enrollment.
VANCOUVER, June 29, 2017 /CNW/ - While the majority of parents in Canada contribute towards their child's postsecondary education (76% vs. global average of 87%), students in Canada are the most likely across all markets
surveyed to also help fund their own educational goals (42% vs. global average: 15%).
This, according to a new global study commissioned by HSBC – The Value of Education: Higher and higher – based
on a survey of more than 8,400 parents across 15 countries and territories worldwide.
"The good news is that Canadians take a proactive approach to financing their child's education," said Larry
Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, "Taking advantage of
registered education savings programs, or scholarships and bursaries is key, however, there is still opportunity to do even more."
The weakening of the global recovery in 2012 and 2013 has further aggravated the youth jobs crisis and the queues for available jobs have become longer and longer for some unfortunate young jobseekers. So long, in fact, that many youth are giving up on
the job search. The prolonged jobs crisis also forces the current generation of youth to be less selective about the type of job they are prepared to accept, a tendency that was already evident before the crisis. Increasing numbers of youth are now turning to available part‐time jobs or find themselves stuck in temporary employment. Secure jobs, which were once the norm for previous generations – at least in the advanced economies – have become less easily accessible for today’s youth.
The global youth unemployment rate, estimated at 12.6 per cent in 2013, is close to its crisis peak. 73 million young people are estimated to be unemployed in 2013.1 At the same time, informal employment among young people remains pervasive and
transitions to decent work are slow and difficult. The economic and social costs of unemployment, long‐term unemployment,
discouragement and widespread low‐quality jobs for young people continue to rise and undermine economies’ growth potential.
What the whole world wants is a good job. When asked about the most important problem they face, people worldwide consistently mention the availability of jobs. But just any job is not enough. Leaders need to make quality jobs available to help their people thrive and to ensure their country prospers. Good jobs can lift individuals out of poverty and put entire countries on the path to progress. Global leaders today are rightfully making job creation a top priority. But until now, they did not have the measures they needed to determine whether they are creating good jobs. When thinking about jobs, leaders and nearly everyone else generally thinks about unemployment. But there are several problems with focusing solely on this measure.
This study examines the George Coles bursary program—a financial aid plan designed to “keep residents at home” so they can attend university, by provid-ing a bursary in their first year of university following high school graduation. The study offers insight into higher education students’ financial circumstanc-es, thereby suggesting policy direction for governments and higher education institutions wishing to retain talent and support student financing. The findings show that the resident students considered in the study appeared to value the bursary. However, none of the key metrics related to participation in or conver-sion to the home institution indicated that the bursary impacted enrolment or participation. This research highlights the importance of utilizing financial aid in combination with other policies to help students access higher education.