The Spending Trap

For some, a college education is crucial for having success in life. But the number of students who can't afford post-secondary has skyrocketed in the past few years.

Financial struggles are a significant barrier to post-secondary education for many students. According to the Canadian University Survey Consortium, around 27 per cent of Canadians said that financial reasons influenced their decision not to pursue an education immediately after high school.

However, many Canadians who choose to attend a college or university rely heavily on loans, grants, and scholarships to graduate.

The soaring tuition costs are one of the main barriers to accessing higher education. In recent years, tuition fees in Canada have gradually risen, outpacing inflation rates and wage growth. A Statistics Canada report showed that the average undergraduate tuition fee for Canadian students in the 2021 and 2022 academic years was more than $6,000.

But tuition is just a part of the financial struggle students deal with. Most of those who can't commute from home must live in dorms or student housing. The cost of the housing can change depending on various factors including location, amenities, and proximity to the campus.

Spencer Grenier is a second-year radio student at Mohawk College and relies on student housing and budgeting to graduate college. Grenier and his roommates pay more than $600 a month on a home that they agreed isn’t worth it. “Ten people are living under the same roof as me,” Grenier said. “The house isn’t an ideal place to live, it's a rundown home that has started growing black mould. On top of food, gas, and my classes, the condition of the house should be the least of my worries. It's the landlord's job to make sure it's an adequate living space.”

The financial burden of housing can be a lot, especially when combined with other expenses such as textbooks, food, and transportation. Many students are forced to choose between where to live and how much they can afford to spend, often sacrificing convenience and comfort for affordability. Aside from tuition and housing, the high price of textbooks can be another financial obstacle that can affect student's academic success.

Those attending Mohawk College and enrolled in the early childhood education program can expect to pay $52.95 for a single hardcopy textbook. Those students at Niagara College who are enrolled in the psychology program can expect to pay over $100 for a single eBook. Around two-thirds of students said they did not purchase textbooks for classes due to the high pricing, but later regretted it, stating that it would have helped their academic grades. These costs often force students to skip visiting family members or go without meals to pay for the books. Louisa Drost is dean of students at Mohawk College and is responsible for leading programs that are aimed at improving student's experience and enhancing their success.

At the school, Drost has many ways to help alleviate the financial burden that many students are facing. “We work closely with our foundation and financial aid for bursaries and grants to help support students in need,” Drost said. “We also work closely with the MSA and student life to offer students support. Ongoing activities through Mo’ Money help look at different ways to budget.” Drost and her team want to educate and help transform students. She believes that the best way of doing that is by opening their ears to what the students have to say and supporting them in any way they can.

Mo’ Money is a student money management centre at Mohawk College that helps students develop critical financial skills and provides them with the resources to effectively use those skills. Resources like these can help students not just financially but also mentally and emotionally. According to the Canadian Alliance of Student Association, three-quarters of post-secondary students experience negative mental health during the 2021 to 2022 school year.

The National College Health Assessment showed that nearly 70 per cent of Canadian post-secondary students experience anxiety because of academic pressure and social expectations. Keaghan Cowell is one of Mohawk College's wellness care coordinators and is a huge mental health advocate. She believes that the high prices are a direct contributor to student's mental well-being. “It’s a domino effect,” Cowell said. “We are living in a world of inflation, and I think prices only further exacerbate student stress, which further impacts student’s mental health. I hear from students about the cost of living on an almost daily basis. The price of living is extremely high right now. I think we all collectively need to acknowledge that and work together to problem-solve on how to alleviate some of the financial burden on students.”

The main hope Cowell has is for students to know that there is support for them on campus and that she is more than happy to work with them to help find a solution to their problems.

The journey toward addressing and solving the financial issues students face while attending post-secondary requires a collective effort. Students can talk with a counsellor or go online to see what options are available to help solve their financial and mental struggles.