Infographic: A Generation Of Loaners

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Members of Gen Y are having trouble finding employment after graduation and their pockets are paying for it.

A study released by the CIBC Centre For Human Capital And Productivity found that many students surveyed are either delinquent in repaying their loans from the Canada Student Loans Program (CLSP) or their loans end up in default. Two-thirds of survey respondents cited a lack of income as the reason behind their loan delinquency or default.

The study also noted that students whose parents were willing able to help them out with loan repayment experienced far fewer repayment problems. As a borrower’s income is beyond the control of CLSP, the report noted that repayment assistance programs may need to maintain connections with borrowers so that they are able to return to loan repayment when they are able.

Here’s some of the key information in infographic form!

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