NBC did a report on the increasing number of American post-secondary students migrating to Canada in order to earn their degree at a reduced cost. Over the past decade, the number of U.S. students at Canadian post-secondary institutions has increased 50 per cent.
Today, an estimated 10,000 Americans attend Canadian post-secondary schools, according to the Institute for College Access & Success.
Don Cyr, Dean of the Goodman School of Business at Brock University in St. Catharines, Ont., indicated that even for a rising school like Goodman, the number of students coming from the US is still visible. Furthermore, for a business school only 20 minutes from the American border, Don anticipates that the number of American students registered at Goodman will continue to grow.
“About two per cent of students in the Goodman School of Business are from other areas of North America,” said Cyr. “While this number may not compare directly with bigger Canadian universities, it certainly shows no sign of slowing down – especially if American tuition costs continue to rise.”
The Institute for College Access & Success also says that graduates from an American post-secondary school can expect, on average, to carry more than $26,000 in debt. About one in six American students who owe money on their student loans is in default. Such a debt load is a harsh reality that is forcing a growing number of young people to look north to Canada for an education they can better afford.
The largest cost of post-secondary in the United States is tuition, which is astronomical compared to Canada. At schools such as the University of Chicago and New York University, the annual tuition tops $40,000, far above their Canadian counterparts, which benefit from a tradition of robust government support and total around $8,000.
An international student at Brock University would still only pay an annual tuition of around $17,000, less than half what it would be if they were to attend school in the US.
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