In recent years, talk of a Canadian student debt crisis has been getting louder. When we look at the numbers, it isn’t hard to see why. With the average student debt balance increasing more than $1,000 from 2021 to 2022, student debt in Canada is accumulating at a growing pace. But just how much student debt is there in Canada?
In this article we’ll cover the average amount of student debt in Canada over the last 10 years, the financial aid that is currently available, and the wider impact of student loans.