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Canadian higher education student financial aid policies, products and services in Canada

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dc.contributor.authorRouf, Kazi Abdur
dc.date.accessioned2019-09-09T19:53:04Z
dc.date.available2019-09-09T19:53:04Z
dc.date.issued2019-09-09
dc.description.abstractAlthough Canada is a welfare state and it has need-based priority student financial aid support policies in Canada; however, its higher education financial aid service is not universal. Rather its higher education support services have neoliberal policy matrix (public grants and private loan) financial aid services began to take root in most Canadian provinces. Although since 1964, the Canadian financial aid program has provided over $51 billion in Canada Student Loans to more than 5 million Canadians to help them finance their education and equip them to achieve their career aspirations. However, higher education tuition fees and student debt levels are increasing every year. Class sizes and the proportion of part-time contract lecturer positions are increased. The average undergraduate tuition fees are $2,243 in 1990-91, but tuition fees increased to $7,086 in 2018-19. Moreover, Statistics Canada (2015) identifies tuition fees for most graduate programs in Ontario have seen a similar 300% increase since 1990 and are now $8,971 on average, even professional program fees have undergone a much more dramatic increase. Further, after 2016 the tuition costs grew the fastest in Ontario (+402%). Canadian Government higher education student funding accounted for the majority of operating revenue for Canada’s university institutions, accounting for 83.2% in 1978, leaving students to pay approximately 15%. However, at the University of Toronto, the government grants and the institutional grants cover only 53% of the tuitions and fees of the students. Hence the average Canadian student debt is $27,000, up from $8,000 in 1990. Moreover, many students will spend half of their working lives paying back their student debts. The Ontario Student Assistance Program (OSAP) student debt the publicly-assisted colleges’ students are 9.1% and private career colleges are 14.5%; overall 2017 OSAP default rates for Ontario postsecondary institutions is 6.7%. The paper has many secondary data. The author talks with many students, read many articles, books, reports, and newspapers to get the full scenario of the Canada student financial aid policies, programs and products. The study finds although Canada has the need-based higher education student financial aid policies; however, many brilliant students from the low-income group do not have a university education. The study identifies many issues responsible for many students’ inaccessible to college education and increase of student debt. One of the main reason is many college financial aid officers do not elaborately explain student higher education financial aid government policies, programs, and products to the prospective higher education students. Although, the Government of Canada changes many of its higher education financial assistance policies, programs, and products; however, the ratios of the grants: loans are still questionable to many students, researchers, and laymen. Therefore, the federal, provincial and institutional grants need of the increased so that grants portion can be higher than 80% than the loan portion.en_US
dc.description.sponsorshipYork Centre for Asian Research (YCAR), York Universityen_US
dc.identifier.citationDr. Kazi Abdur Rouf, "Canadian higher education student financial aid policies, products and services in Canada."en_US
dc.identifier.urihttp://hdl.handle.net/10315/36471
dc.language.isoenen_US
dc.rightsAttribution-NonCommercial-NoDerivs 2.5 Canada*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/2.5/ca/*
dc.subjectCanada Apprentice Loan (CAL)en_US
dc.subjectUniversity of Toronto Financial Aid (UTAPS)en_US
dc.subjectRepayment Assistance Plan (RAP)en_US
dc.subjectOntario Student Opportunity Grant (OSOG)en_US
dc.subjectCanadian Millennium Scholarship Foundation (CMSF)en_US
dc.subjectOntario Student Assistance Program (OSAP)en_US
dc.subjectCanada Student Loan Program (CSLP)en_US
dc.subjectCanada-Ontario Integrated Student Loan (COISL)en_US
dc.subjectCanada Student Loansen_US
dc.subjectOntario Student Loansen_US
dc.titleCanadian higher education student financial aid policies, products and services in Canadaen_US
dc.typeWorking Paperen_US

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