Smart Mortgage Strategies For Covering Education Costs!

According to Statistics Canada students who are enrolled in an undergraduate program in Canada in 2010/2011 would have paid on average $5,138 in tuition fees for that current year which is up from $4,942 in 2009/2010.

In Ontario our undergraduate students on average pay the highest in tuition fees at $6,307 compared to the rest of Canada.

As the cost of post-secondary education continues to rise every year it is becoming more difficult for “young adults” to pay for their post-secondary education their self so they are turning to their parents for financial assistance. If you’re finding it a challenge to cover your children’s current or future plans, talk to your mortgage broker today. It may make sense to refinance your mortgage so you can fund their education at affordable mortgage rates, instead of paying for expensive consumer loans.

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