Future post-secondary students are encouraged to seek information about student aid and government funding

Kristin Andrews
News Reporter

For most, post-secondary education is another step on the path of life, but for those from low-income households it may not be on the family radar.

“Low-income families overestimate the financial challenge of post-secondary education and underestimate the return students can expect by getting an education,” said John Davies, president of Humber College.

The Higher Education Quality Council of Ontario (HEQCO) said the issue is one of financial literacy.

“A part of financial literacy is understanding debt and how it works with student aid – what real levels of debt are and how it can be dealt with after you graduate,” said Fiona Deller, research director for HEQCO.

Deller said these decisions are made as early as Grade 9.

“When you ask someone in Grade 9 or 10, they tend to think tuition is more than it actually is,” she said.

Engaging high school students about financial aid is something HEQCO has difficulty doing.

“There is a lot of information about government funding and student aid, but whether or not that information is helpful or provided in a way that they can make actual use of, I’m not entirely sure,” said Deller.

“Low-income families or families with a low education level don’t know how to mentor children through the process,” said Linda Hill, program co-ordinator for the social work program at Lakeshore campus.

Davies said it’s important for students to pursue a post-secondary education.

“Estimates that you read in future enrolment will say that five years from now 70 to 75 per cent of all jobs will require a post-secondary education,” he said.