Graduate student loans mean postponing life’s milestones

July 24, 2013

Many graduate and post-graduate students are postponing a number of life milestones such as buying a home, getting married or moving out of their family home, according to a TD Bank study. The study, which polled 590 Canadians currently attending graduate or post-graduate education or attended in the past 3 years, found that 30% of grad students accumulate more debt than expected, and 40% find it difficult to make minimum repayments on student loans in the first 2 years after graduating. This ultimately prevents Master’s and PhD students and recent grads from “moving to the next phase of their lives.” 40% of respondents said they postponed buying a home until their student loan debt is paid off. 18% of the participants even said they wouldn’t move out of their parent’s house until they were debt-free. TD News Release