The transition from student life to the working world is challenging enough without the added pressure of paying down your student loans. Take a look at our financial strategies to help you pay off your debt.
With tuition costs rising, students look to various funding sources including scholarships, bursaries, paid employment, government student loans, and student-run credit unions. In addition to (or instead of) these funding options, students can consider a student line of credit.
The high cost of higher education could affect your career as well as your bank account. Stay tuned for more articles this week in a series about the accessibility of education in Canada, and the causes and effects of student debt.
Just because you might be able to fund your education completely on scholarships or loans doesn’t mean it’s the best idea. Self-funding allows you to gain new skills, explore various careers and network in professional communities–and you won’t have to pay back interest on the money you earn.
Student loans—burdensome as they may seem during payback time—are considered some of the best debts to get into, and for good reason. While we all know the value of a good education, student loans have the potential to give back much more than what they take, and not just in terms of job prospects.