Higher Education Trend Report: Student Finance

Education & Skills

Key Insights 

Rising international tuition fees are reshaping Canadian post-secondary education 

  • Domestic tuition fees increased below the inflation rate since 2013–14 due to freezes, but international fees have soared and are becoming increasingly vital to institutional budgets. This introduces financial uncertainty for institutions, as federal government policy changes for international students will impact enrolment and revenue. 
  • Professional programs like dentistry and executive MBAs are among the costliest, particularly for international students. 

Debt challenges vary across programs and student levels 

  • Graduates of professional and advanced programs carry the largest debt loads but show faster repayment rates. 
  • A growing divide exists between STEM and non-STEM graduates in terms of debt burden and repayment outcomes. 

Financial pressures expose institutional vulnerabilities 

  • Colleges rely heavily on tuition and provincial funding, making them sensitive to policy shifts such as international student visa caps. 
  • Spending patterns reveal stark contrasts in administrative and instructional priorities across institutions, especially between universities and colleges, with major differences across different regions. 

Canada’s investment in R&D and post-secondary education faces scrutiny 

  • With R&D spending lagging global peers, Canadian institutions may struggle to attract talent and drive innovation. 
  • Despite robust financial support for students, questions remain about long-term competitiveness and equitable access. 

A global perspective on student finance 

Canada’s post-secondary system offers some advantages, including lower student debt levels and above-average spending on education compared to OECD peers. However, rising costs and funding disparities suggest there’s much more to uncover about the future of higher education in Canada. 

Explore the full report to dive deeper into the trends and challenges shaping the future of student finance in Canada. 

Comments