Students unrealistic about debt load
Posted Jun 25, 2011 3:46 pm.
This article is more than 5 years old.
Post-secondary students are optimistic their school-related debt load will be manageable once they graduate.
That’s according to a recent BMO survey.
Nearly 60 per cent of those polled feel they will owe less than $10-thousand dollars or nothing at all when they graduate, despite stats showing students on average owe nearly $19-thousand dollars.
The survey also found most students expect to pay off their debt within five years.
A BMO spokesperson says it’s not surprising most students expect to have some debt when they finish their schooling, but it’s concerning to see how little debt they think they will have and how quickly they believe they can pay it off.
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