According to a recent poll conducted by CIBC (TSX: CM), post-secondary students are bogged down by worries of money, and the cost of their education.
Polling data also shows they’re worried about earning enough money to repay student loans after they complete their education.
About 48 percent of students surveyed expressed concern over covering tuition and living expenses for the upcoming school year, and were also concerned about being able to repay student loans after college.
The online poll surveyed 992 randomly chosen post-secondary students who are Angus Reid Forum panelists between July 27 and 29.
Other aspects of the poll likewise indicated that students are paying more to cover their tuition and living expenses, and receiving less help from their parents.
A majority of the students surveyed indicated they plan on spending between $10,000 and $30,000 to cover all associated post-secondary costs, tuition and living expenses, and expect their parents to cover approximately 22 percent of that cost.
A similar poll last year indicated students could expect their parents to cover upwards of a third of all post-secondary education-related expenses.
Of all respondents, 37 per cent indicated that finding a well-paying job after school was a priority for them.
A recent RBC Student Finances Poll indicated that 45 per cent of post-secondary students were concerned about getting a job after graduation, and another 37 per cent were concerned with making enough money to support themselves.
The cost of higher education is rising across North America. In the United States, student debt is about $1.2 trillion.
