21 Jun “Education is Worth Every Penny” by Lesley Scorgie
With school right around the corner this article may be of some interest to you; “Education is Worth Every Penny” by Lesley Scorgie.
She explains how she managed to pay her way through a four year undergraduate degree and an MBA by working part time during the school year and working full time during the summer months. “The short term pain of large tuition bills pales in comparison to your long-term income gains”. The Article goes on to predict that 75% of future jobs require education making education critical!
By applying for paid co-ops, internships and work experience programs related to your field of study, it will give you that bit of extra cash PLUS good hands on experience! It’s a win-win situation.
“Student debt is often unavoidable; but by working throughout and saving up your income, you can significantly offset the costs of tuition.” But if you do need to take out a loan, just keep in mind Section 178(g) of the Bankruptcy and Insolvency Act (Debts not dischargeable in a bankruptcy or proposal :
any debt or obligation in respect of a loan made under the Canada Student Loans Act, the Canada Student Financial Assistance Act or any enactment of a province that provides for loans or guarantees of loans to students where the date of bankruptcy of the bankrupt occurred
(i) before the date on which the bankrupt ceased to be a full- or part-time student, as the case may be, under the applicable Act or enactment, or
(ii) within seven years after the date on which the bankrupt ceased to be a full- or part-time student
To read more about what types of debts are not dischargeable in a bankruptcy or proposal check out http://laws-lois.justice.gc.ca/eng/acts/B-3/page-93.html?term=178#s-178.
Scorgie, Lesley. “Education is Worth Every Penny” Metro. August 30, 2011.