In today’s world, knowledge is power and post-secondary education is undoubtedly a leading way to gain that knowledge. I has even been shown that there is a direct correlation between earnings and the level of education. But with post-secondary tuition, campus fees and living expenses on the rise, it seems as if only well-off students are able to finance through a complete university or college education. Lousy grades, no savings, a lack of expectations from parents and even gender are just some of the factors that often deter potential scholars for reaching for that post-secondary brass ring, and thanks to a new survey on education, those demographics are becoming less of assumptions and more stark reality for Canadian students.
According to the Post-secondary Education Participation Survey (PEPS), a report recently released by Statistics Canada in partnership with Human Resources Development Canada and the Policy Research Initiative, the chances of you (if you fit into the description above) pursuing post-secondary education is less likely. But don’t be discouraged – that is not to say that you are not qualified to engage in higher learning. It just means that you belong to the minority and that you have probably overcome many obstacles to get to where you are today.
In February and March of 2002, approximately 5,000 Canadians between the ages of 18-24 were contacted by telephone and they were asked questions relating to post-secondary education. The study focused on three main areas: access to post-secondary education, persistence to post-secondary education and financing of post-secondary education. Access refers to the factors that influence a high school student’s decision to pursue further education. Persistence examines the variables that cause a student to discontinue with his/her program. Finally, financing looks at the ways a student pays for his/her education.
Concerning access to post-secondary education, there is no single determining factor to predict whether a student will go on to university or college or not. In fact, there are a variety of factors that will influence that decision. These include academics, parents’ expectations, their level of education and financial situation at home. Gender seems to play a role as well.
The study shows that 67 per cent of young women go on to higher education compared with 57 per cent of young males. As well, two-thirds of the students who go on to a university or college education have good academic standings in high school, i.e. 80 per cent or more, while only one-third of them have grades that are below 70 per cent. The financial situation at home is also a major influence. Those with family earnings of $80,000 and up are more likely to pursue further education. However, that number dwindles as family income decreases. Furthermore, parents’ education level and expectations significantly contribute to the overall access of post-secondary education.
The main reason for the drop according to the PEPS is the ‘lack of fit’ with either programs or post-secondary education in general. It means that students who discontinue with their programs are either disinterested in what they are learning, confused about what they want to do, or conflicted because of programs changes and requirements. 29 per cent of students give the lack of financial support as their reason for dropping out of school. Some say they needed to work and others say they could not find a loan to pay for tuition.
Well over half of the students surveyed-77 per cent of them-say summer jobs and other employment earnings help them to pay for academic and living expenses once they are in post-secondary education. 58 per cent of them rely on family support and 36 per cent rely on scholarships, bursaries, grants and other non-repayable sources. The study also shows that 44 per cent of students apply for loans from the government and of those who applied, 79 per cent of them receive the money. Only 14 per cent borrow money from banks.
Regarding employment earnings prior to the academic year, the median amount saved by students is $2,500 and $3,000 during the academic year. ‘Free’ money from family and others amounts to $2,000 and scholarships and other grants contribute $1,600. PEPS also reveals that the average full-time university student spends more than $11,200 per year while a full-time college student spends approximately $9,330.
Though these are only averages and medians, which by no means can be taken at face value, it nevertheless makes one wonder how students are able to finance their way through post-secondary education.
