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Old 09-12-2013, 07:39 PM
 
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So how does the college loan system in Canada work? Is it like the US where the federal government offers some money but not enough to cover the whole cost so parents have to get the rest from private banks which hound you until you pay? Or is it like the UK where the government restricts how much tuition the universities can charge, provides the aid to pay for it and then makes sure that banks can only charge them when the student is employed and even then only a certain percentage of the employees income?
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Old 09-12-2013, 07:42 PM
 
Location: Vancouver
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Originally Posted by Docman View Post
So how does the college loan system in Canada work? Is it like the US where the federal government offers some money but not enough to cover the whole cost so parents have to get the rest from private banks which hound you until you pay? Or is it like the UK where the government restricts how much tuition the universities can charge, provides the aid to pay for it and then makes sure that banks can only charge them when the student is employed and even then only a certain percentage of the employees income?
Go away Jews 4 Jesus.
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Old 09-12-2013, 07:44 PM
 
Location: Chicago(Northside)
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Originally Posted by Natnasci View Post
Go away Jews 4 Jesus.
HAHAHAHAHAHAH
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Old 09-12-2013, 08:43 PM
 
47 posts, read 205,363 times
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Originally Posted by Natnasci View Post
Go away Jews 4 Jesus.
???????????

Anyone have an answer to the original question?
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Old 09-12-2013, 10:42 PM
 
47 posts, read 205,363 times
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I'm kind of surprised that nobody has given a serious answer. Is there a reason for this?
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Old 09-13-2013, 12:46 AM
 
Location: Stasis
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I'm with Old Economy Steve...

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Old 09-13-2013, 08:42 AM
 
1,701 posts, read 1,993,821 times
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Quote:
Originally Posted by Docman View Post
So how does the college loan system in Canada work? Is it like the US where the federal government offers some money but not enough to cover the whole cost so parents have to get the rest from private banks which hound you until you pay? Or is it like the UK where the government restricts how much tuition the universities can charge, provides the aid to pay for it and then makes sure that banks can only charge them when the student is employed and even then only a certain percentage of the employees income?
It is more like the U.K. system in Canada. Universities here are not privately run and do not charge $100K + for a degree. For example, tuition at University of Toronto (one of Canada's top school, in Canada's largest city) is approx. $10-20,000 per year (depending on the program). Other universities charge even less - some as low as $5000 per year.

Student loans in Canada are issued mostly by the Province (State). So, students in Ontario apply for Ontario Student Assistance Program (OSAP). While this system is not perfect, generally OSAP will pay for 100% tuition + living expenses if you have no income (and your parents have no income).
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Old 09-13-2013, 09:12 AM
 
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What Sandman said is correct. Actually, most programs will cost less than 10K a year. In Quebec, tuition costs 2500K a year in average, for the same quality education. Yes, you read correctly, 2500K a year. The most expensive university in Quebec is McGill and it costs around 4000K a year to study there.
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Old 09-13-2013, 10:18 AM
 
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Originally Posted by Sorel36 View Post
What Sandman said is correct. Actually, most programs will cost less than 10K a year. In Quebec, tuition costs 2500K a year in average, for the same quality education. Yes, you read correctly, 2500K a year. The most expensive university in Quebec is McGill and it costs around 4000K a year to study there.
Yes. The universities in Manitoba give you a 100% refund after you graduate .... in the form of tax credits. So in a way, going to Univ. of Manitoba is free!

But it is important to note here that the U.S. system is very different. And such blanket comparisons are generally very misleading and serve no purpose.

There are over a 100 schools in the U.S. with endowments of over a Billion Dollars. So, in terms of raw funds available for college education and higher level research, US beats the rest of the WORLD combined.

I have studied in both the US and Canada. I had to pay my way through college in Canada, but it was FREE for me in the US. The same is true for a lot of students who can get into the top 100 schools in the US. Those that can get into the Harvards and Stanfords generally get everything paid for 100%. Such scholarships are unheard of in Canada. The yearly endowment at Ivey leagues schools like Harvard and Yale beats that of all Canadian universities combined. So we are comparing apples and oranges here.
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