From the 2016–2017 financing seasons, the application considering $dos

From the 2016–2017 financing seasons, the application considering $dos

6 billion into the financing to around 490,100 full-time post-second youngsters. The fresh group profile off Canada Student loan receiver remained in line with regarding prior age. From the 2016–2017 mortgage year:

  • the vast majority of (54%) regarding full-time college students with fund was 21 yrs . old otherwise more youthful; 34% was in fact between 22 and you can 29 yrs . old; and you can a dozen% of full-big date individuals was in fact 3 decades or more mature;
  • 89% of full-big date people were single;
  • females college students made-up 59% out-of loan users, if you’re men students illustrated 41% out of users; and you may
  • almost a few-thirds off full-time people (65%) were residents regarding Ontario. People out-of Alberta (13%) and you may British Columbia (10%) made the second one or two high proportions of loan readers. The remaining a dozen% was regarding the other eight acting jurisdictions.

As the noted inside the Dining table 2, about 2016–2017 loan season what number of complete-time Canada Student loan borrowers enhanced by the regarding 470 throughout the early in the day 12 months. The average Canada Student loan amount was $5,318, which is below the degree of $5,507 in the previous loan season, as the an increased portion of students’ monetary needs were met from the Canada Scholar Grants.

In which manage borrowers check out university?

Regarding 2016–2017 mortgage year, a good many student loan readers stayed in their home state otherwise territory to pursue blog post-supplementary studies. As much as nine% out-of users read exterior their property state otherwise region or ran abroad to analyze.

Beginner consumers out-of higher provinces had been less inclined to study exterior their property state. Such as, just below 5% off recipients out of Ontario read external its province. In contrast, youngsters out-of quicker jurisdictions was prone to play with the Canada Student loan during the a place outside their property province: 78% out-of student borrowers from Yukon and you may 43% regarding student consumers away from Prince Edward Area read additional their residence jurisdictions.

Nearly 11,700 Canada Student loan receiver, bookkeeping for approximately 2% of the final number out-of individuals, examined external Canada about 2016–2017 mortgage 12 months. Half of this type of pupils undertook study software in america, once the spouse had been subscribed to schools in other countries.

What types of organizations do consumers attend?

  • 59% away from full-day scholar borrowers attended school;
  • 32% went to university; and you can
  • 9% attended a private place.

These types of wide variety stayed about intact about early in the day mortgage seasons. The typical amount borrowed paid inside 2016–2017 stayed higher certainly consumers gonna an exclusive organization ($eight,390) and you may reasonable one of university attendees ($4,488).

The second chart portrays a review of complete-big date individuals in the colleges, colleges and personal universities to possess 2016–2017 and also the one or two previous many years.

Just what quantity of data was individuals signed up for?

Throughout the 2016–2017 loan seasons, really complete-big date beginner individuals (60%) have been signed up for student apps, if you find yourself 35% was indeed enrolled in certification otherwise diploma programs and 5% have been experts otherwise doctoral children. These types of dimensions act like those from the earlier in the day loan year.

Average financing amounts was basically higher having full-time people from inside the applications in the master’s height ($seven,308) otherwise doctorate peak ($8,114), as compared to those people at the undergraduate height ($5,237) or in non-knowledge apps ($5,167).

Assistance for region-time degree

A lot of the CSLP consumers is complete-time people, because the evidenced because of the amount of money getting full-time college students ($dos.six billion) as compared to that for part-time pupils ($19.dos mil).

On 2016–2017 loan 12 months, $19.2 billion in part-date funds was basically offered to eleven,800 pupils. It stands for a drop off 20% on value of finance and you can fourteen% regarding level of area-date youngsters from the early in the day 12 months. This reduced amount of money is certainly caused by because of the 50% upsurge in the worth of low-repayable part-day features.