Do you think of “debt” as a dirty word? As you picture yourself in full Value Village couture, eating from the same pot of vegetarian chilli for the third day in a row, you may be thinking—why would I ever go into debt for school?

Yes, there are discouraging stories out there, but having access to student loans is also a pretty big privilege. Borrowing money to study and earn a university degree is not only about you investing in your future, it’s also about your country, your province and your community investing in you.

Did you know that an estimated 2.5 billion adults in the world have no access to financial services at all? It is this disparity that motivates development organizations like Kiva and TrickleUp to offer small amounts of credit and entrepreneurship training to lift people out of poverty. Their goal is to finance a better world.

In contrast with microcredit development programs, the financial support available to a single Canadian student is enormous, and they even bend the rules for you in terms of interest! All things considered, it really is an extraordinary opportunity, and there is also a huge amount of support out there to help you make the investment a success.

Yes, the system can seem complex, and paying off a debt doesn’t sound like fun, but learning how it works and how to manage debt responsibly are also priceless life lessons. Student loans also aren’t the only ones you’ll likely encounter in your lifetime. For anyone with aspirations to own a home, buy a vehicle, finance a trip or start a business, those with the knowledge and confidence gained by managing a student loan are already a step ahead. 

Dollars and sense

Want to do it right? Join Capilano University’s financial aid advisors on Thursday, January 15 at 12:00 p.m. in Arbutus 125 for Making Sense of Student Loans, a workshop designed to help you cut through the confusion, access student loans and manage them well.

Other sessions by Financial Aid and Awards this term include Money Management and Understanding Student Loan Repayment. See the full workshop series

Submitted by Marketing & Communications