NEW WESTMINSTER, BC: As students across the province head to college and university campuses today, the energy is high, and hope is in the air. Along with the excitement of a new year, students are also facing incredible financial challenges as they balance paying tuition, buying new textbooks and course materials, all while covering their costs of living.
In British Columbia, student debt remains a pressing issue. As of 2024, the average student debt for a B.C. graduate stands at approximately $27,000, a significant burden for many young adults entering the workforce. The recent elimination of federal interest on student loans and the BC Access Grant offers some relief, but the cost of higher education remains a barrier for many.
“It is important to remember that for many students and their families, back to school is a time of increased financial stress and uncertainty. We still have work to do as a society to make college and university more affordable to people who want to study and retrain,” said Jessie Niikoi, Chairperson of the British Columbia Federation of Students (BCFS). “We need to invest in B.C.’s public post-secondary institutions so that tuition fees can be frozen, and progressively reduced.”
A recent poll published by TD shows that 65% of students define themselves as financially unstable and 45% are currently unable to adequately cover basic needs such as food and housing.
“We need to re-envision what being a student looks like today; students should be afforded the time to get involved in their campus communities, make social connections, volunteer and engage in deeper, applied learning in their areas of study,” said Niikoi. “Students are our future, they are the next generation of leaders, healthcare workers, trades people and change makers. We need to support their success, rather than accepting working multiple jobs, living in unsafe, overcrowded accommodations or skipping meals to make ends meet as the new normal for students. I’m confident we can do better,” Niikoi emphasized.
For several years, the BCFS has called on the B.C. Government to invest $500 million annually to increase the public portion of post-secondary institution funding. In recent years, the proportion of funding to the province’s colleges and universities has dropped to near 50% of total operating costs, down from more than 80% in the 1980s and more than 90% in the 1970s. This constitutes a massive divestment in public education for the current generation of young people compared to the support provided to those who attended college and university in past decades.
“We know that most job openings in BC will require some form of post-secondary training, and we need to ensure that everyone can afford to access that education in our province” said Niikoi. For students and young people, there is cautious optimism around the provincial election. In the last provincial election one-fifth of registered voters were under the age of 35. “During this election, students and young people must remind candidates that we as a generation are not out of the woods yet. More needs to be done to secure our future and the future of BC. We are worth the investment.”
The BC Federation of Students represents over 170,000 students at 14 universities and colleges in every region of BC. Together, these students advocate for a well-funded system of post-secondary education in BC that is affordable and accessible for all students.
