One in Three First-Year Students Expect a Lot of Debt

Two out of three students are either kidding themselves, have rich parents, or are prepared to work damn hard.

A full third of students headed to university next month anticipate graduating with a “significant” debt load, while just more than half of survey respondents say they'll probably have a hard time paying for at least four years of higher education. The Royal Bank of Canada survey also suggests that female students are a little more realistic about their finances than their male counterparts, with 37 per cent of the former expecting a heavy debt load (the average in 2005 for graduates was nearly $19,000, and it's not like tuition's become any cheaper since then) and just 27 per cent of guys planning for one. All in all, though, we're with the 38 per cent who said they weren't going to worry about finances until after they graduate (these are called “arts students”), as we can say from experience you're going to end up with thousands of dollars of debt regardless of how fiscally prudent you are, so you might as well enjoy the heck out of it. Old Milwaukee tall cans, Olde English malt liquor, and port are about the cheapest ways to do so.