StatCan data illuminates the debt situation of the class of 2020

Statistics Canada has released new data on labour market outcomes for the 2020 graduating classes of Canada’s colleges and universities. The table outlines the average amount of debt owed upon graduation, with data initially displayed by credential type and province of study. On average, doctorate graduates had the highest debt ($38.2K nationally), followed by master’s ($33.3K), bachelor’s ($30.6K), and college ($16.7K) graduates. There was notable variation in average debt by province within each credential. CBC compared this data with previously-released StatCan data indicating that approximately one-third of graduates of the class of 2020 had paid off their loans three years later. CBC reports that in Nova Scotia, graduates tended to have one of the highest average amounts of debt at graduation and one of the lowest rates of having paid off their loans at the three-year mark.

StatCan (Release) | StatCan (Table) | CBC