Studentawards Inc.

Studentawards Inc.

September 24, 2009 09:00 ET

Who Is the Poorest of Them All in 2009? It's Still Nursing Program Students

Up from 77% in 2008, in 2009, 91% of nursing students start school year with less than $5,000

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2009) - The new school year is underway and for the second year running, of nine faculties surveyed by, it's once again Canadian Nursing students who are starting the school year as 'poorest of them all'.

In fact, up to 91% of Nursing students will have less than $5,000 at the start of the school year, up from 77% in 2008. Following closely are those studying: Business; English; Education; Humanities; Social Sciences; Sciences; and, Engineering.

As was the case in 2008, all faculties report one year of college or university will cost them between $10,000 and $20,000. It's not surprising, then, that up to 76% of the 1,200 students surveyed across Canada this fall said they will borrow money to complete their education.

In a dramatic change in this year's survey, only 18% of students anticipated borrowing money from parents or relatives, compared with the 43% of students in 2008 who felt they could turn to family for help. More students this year, 18%, anticipated finding the money from scholarships at academic institutions, whereas last year, only 1% anticipated the same.

"Given the 20.9% student unemployment rate this summer and the toll the poor economy has taken on their parents' net wealth and RESPs, it isn't surprising that students have little money saved and fewer options for interest-free borrowing," explained Suzanne Tyson, President of Studentawards Inc. "At a certain point, students simply don't have enough money and for many, dropping out is the only viable option," she added.

"The best money you can get to pay for school is free money," stated Studentawards Inc. CEO Lesley Gouldie. "There are millions of dollars that companies and organizations want very much to give to deserving individuals-and not to just those with high marks or to those in financial need. For over a decade now, Studentawards has been working hard to match Canadian students with that free money," Gouldie added. matches eligible students with thousands of scholarships, bursaries and cash awards, ranging from $1,000 to $60,000. For more than 11 years, it has matched students to scholarships - many of them hard-to-find, non-institutional awards.


Contact Information

  • To interview Suzanne Tyson or Lesley Gouldie,
    or for information:
    Studentawards Inc.
    (416) 322-3210