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MODULE 5 : Savings [ download PDF ]

• Saving strategies: about 80% of children aged 0 to 18 had parents who were either already saving or were intending to start saving in the future.
• Registered Education Savings Plans (RESP) were popular with 52% of all parents who were saving or intended to start saving in the future.
• The incidence of university student loan debt in British Columbia was 40.9%
• The incidence of college student loan debt in British Columbia was 35.8%
• On average, British Columbia university graduates repaid 24.7% of their student debt within two years of graduation.
• On average, college graduates in British Columbia repaid 25.2% of their student loan debt within two years.
• Trades School Graduates and Debt: A big benefit of apprenticeship training is that debt loads after completion of apprenticeships are much lower since an apprentice “earns while they learn.