The pandemic has been hard on students of all ages. As many parents can attest, their children have missed the social interaction at school and have struggled to focus during online learning. Post-secondary students have missed out on important and exciting life experiences, too.
But even after in-class and on-campus learning has resumed to near normal levels, the lingering financial fallout from the pandemic will cost these students for the rest of their lives.
The provincial and federal governments racked up enormous deficits over the course of the past year that will be tacked on to the hundreds of billions in debt they brought into the pandemic. Ontario’s debt is projected to hit $398 billion by the end of this fiscal year, while the feds’ will surpass $1.1 trillion. The Fraser Institute calculates that each Ontarian’s individual portion of these debts combined now amounts to $58,559.