Canadians paying more for higher education, OECD reports

September 7, 2010

As Canada spends more and more on PSE, an increasing percentage of the cost is carried by students and their families, according to the OECD's annual Education at a Glance report. Out of 32 developed nations, Canada has the second-highest rate of education spending in proportion to its GDP at over 2.5%, behind only the US. However, a significant portion of that spending, 43.4% in 2007, came from private sources, primarily tuition fees. The report follows the revelation that Canada's federal student loan program will soon hit its $15-billion ceiling years ahead of schedule. The federal government has rewritten the regulation that defines how the total loan amount is calculated, shaving off nearly $2 billion. Globe and Mail (OECD report) | Globe and Mail (student loan cap) | Read the report