Research on student debt management and budgeting in Canada Paper

On student debt management and budgeting in Canada - Research Paper Example The poll shows that 6 out of 10 students will graduate with a debt to pay. Likewise, 75 % of the Canadian students do not use a budget (Glasby, 2009, p.152). In addition, the Canadian federal government offers financial assistance through the Canada Student Loans Program (Johnstone, 2010, p 180). There are two Canadian bank loan prerogatives for the Saint Mary’s University’s students. Royal Bank offers student loans (www.rbcroyalbank.com). The bank does not collect interest payments while in school. The Royal Bank manages the Federal loans in Quebec and Nova Scotia, Canada. The bank helps the students with their repayment options, responsibilities as well as obligations. Further, the Toronto Dominion Bank offers student line of credit loans (www.tdcanadatrust.com). The student loans cover tuition fees, books, and living expenses. The bank offers different payment terms that fit the students’ payment capacities. The bank does not collect monthly fee s and annual fees during the student’s student life. Furthermore, the National Student Loans Service Centre helps the students with their student loan inquiries (https://nslsc.canlearn.ca). The Centre offers several student loan types. The student can process the student loans from the bank’s National Student Loans Service Centre. The Centre offers different payment terms. The terms fit the students’ capacity to pay the loans on time. The government offers loan forgiveness to academically intelligent students (Mutimer, 2012, p. 209). Canada’s nature and level of student debt. The Royal Bank’s website (www.rbcroyalbank.com) offers readable online student loan materials to Canadian Citizens, through the federal student loan program (Council of International Schools, 2009, p. 37). Likewise, the Toronto Dominion bank (www.tdcanadatrust.com) can easily be understood by the student loan applicant. The can easily find the