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Tuition payments. Tuition payments, usually known as tuition in American English [1] and as tuition fees in Commonwealth English, [citation needed] are fees charged by education institutions for instruction or other services. Besides public spending (by governments and other public bodies), private spending via tuition payments are the largest ...
Canada spends about 5.2% of its GDP on education in 2020. [45] The country invests heavily in tertiary education (more than US$20,000 per student). [46] Recent reports suggest tuition fee increases across all provinces ranging from a low of .3% in Ontario to a high of 5.7% in Alberta due to a provide-wide restructuring of fees. [47]
A 2017 study from Statistics Canada showed that, among men over the age of 24, the median annual pay of apprenticeship holders is $72,955 per year, which is 7% more than they would have received with a typical college diploma. Among women, the figure is $38,230, which is actually 12% less than if they had started work straight out of high school.
Canada Student Loans of up to $210 per week of full-time study or 60% of the student's assessed need (the lesser of these) can be issued per loan year (August 1–July 31). Loans issued through provincial programs will normally provide students with enough funding to cover the balance of their assessed need.
The Ontario Student Assistance Program (OSAP) (French: Régime d'aide financière aux étudiantes et étudiants de l'Ontario (RAFEO)) is a provincial financial aid program that offers grants and loans to help Ontario students pay for their post-secondary education. OSAP determines the amount of money that a student is eligible to receive by ...
Tuition fees in Ontario are higher than any other province in Canada. [60] On average, undergraduate students pay 29% more and graduate students pay 41% more compared to the Canadian average. [ 60 ] In the last 20 years, Ontario college tuition fees outpaced inflation by 435% and undergraduate tuition fees by 601%. [ 60 ]
Tuition fees vary across specific program areas, and detailed information on tuition rates is available from each institution directly. The average tuition for domestic students paid by undergraduate students in 2006-07 was $4,636, which was claimed to be the fourth-lowest in Canada. [22]
As of 2018, Canada is ranked third in the world (behind Russia and South Korea) for the percentage of people ages 25–34 who have completed tertiary education. [1] As of September 2012, the average debt for a Canadian post-university student was 28,000 Canadian dollars, with this accumulated debt taking an average of 14 years to fully repay based on an average starting salary of $39,523. [2]