Most college and university students who take out loans to pay for their studies expect to graduate with more than $20,000 of debt, a new study suggests.
The BMO survey found about half of post-secondary students are taking on debt for school, and 58 per cent of those with loans expect to owe more than $20,000 when they finish.
About 21 per cent expect to graduate with more than $40,000 in debt.
Forty-four per cent of students with debt believe they will pay off their loans within five years of graduating. Students in Atlantic Canada expect to owe the most and take the longest to pay it down.
Average student debt at graduation was $18,800 in 2005 - the latest year for which statistics are available - according to Statistics Canada.
Survey firm Pollara questioned about 1,000 students for the survey.
