Degrees of debt

This letter to the editor was published in the Globe and Mail.

by Paul Davidson
President, Association of Universities and Colleges of Canada

The six students profiled in Summertime: It’s about the bottom line (Life – July 9) show how some students finance their university studies. But not all students struggle to pay postsecondary costs. In fact, four out of 10 Canadian students graduate from university completely debt-free. And of those who graduate with debt, 28 percent owe less than $12,000 for their years of study.

Moreover, the returns on a university degree are clear. University graduates typically earn much higher incomes and have more stable employment. Even during the most recent economic downturn between June 2008 and June 2012, employers created almost 680,000 net new jobs for those with a university degree – while there were 600,000 fewer jobs for those with only a high-school diploma.