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Student debt is a big burden for many young Canadians. According to the Canadian Student Loan Program, the average student debt load at graduation is about $28,000 and most students take 10 years to pay off their educational debt.
After years of struggling, many graduates are either forced to put off major life milestones, like starting a family, buying a house, car, and other assets because they simply can’t afford it, or they try their hardest to make sacrifices and make it all work — raise a family, work multiple jobs, make mortgage payments, and pay off credit card debt all while trying to keep up payments for their debt obligations. It’s not surprising that so many are seeking help to repay their student debt.
