471 – Is University Worth All The Debt?

Debt Free in 30

Sep 9 2023 • 34 mins

Higher education isn’t getting any cheaper. The cost of going to university has more than tripled since the 1990s and we see first-hand the financial burden caused by student loans. So, is it still worth it to get into debt for post-secondary schooling? With so many advancements in free online education, aren’t there cheaper alternatives? When is college the better option? Is an undergraduate degree still going to give you a job right away? Tune in to this discussion with Ted Michalos and Doug Hoyes as they share graduate statistics and give practical advice on how to think through your career and education choices.

Resources Mentioned in the Show:

Statistics Canada, National Student Survey: https://www150.statcan.gc.ca/n1/pub/75-006-x/2020001/article/00005-eng.htm

University of Toronto, Facts & Figures https://data.utoronto.ca/facts-and-figures/

Ontario, graduation rates: https://www.iaccess.gov.on.ca/OsapRatesWeb/enterapp/home.xhtml

Ontario budget, 2022-2023 https://www.ontario.ca/page/expenditure-estimates-ministry-colleges-and-universities-2023-24#vote2

Chat GPT: https://chat.openai.com/

Hoyes Michalos Annual Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/

13 Stats on Average Student Debt in Canada: https://reviewmoose.ca/blog/average-student-debt-canada/

National Graduates Survey 2018 results: https://www150.statcan.gc.ca/n1/pub/75-006-x/2020001/article/00005-eng.htm

Statistics Canada – Student Debt from all sources: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3710003601