Student debt

This letter to the editor was published in the Globe and Mail on August 31, 2012

By Christine Tausig Ford
Vice-president and Chief Operating Officer
Association of Universities and Colleges of Canada

In his column Why We Should All Care About Student Debt (ROB, Aug. 30), Rob Carrick chastises the public school system for providing bad advice to students on postsecondary education and debt. Unfortunately, his comments could also mislead students and their parents.

Four out of 10 students graduate debt-free. Among those who graduate with debt, almost one-third owe less than $12,000. The median debt for those who borrow is $23,500.

Even in this tough economy, many new jobs are being created for university grads. From July of 2008 to July of 2012, the net increase in new jobs for university grads was 700,000, compared with 320,000 net new jobs for college grads.

During their careers, university grads will typically earn $1-million more than a registered tradesperson or college grad working full-time. University education remains the surest path to prosperity.