Students need an education on credit

This useful primer explains the basics of how your credit score is established.

Ashley Redmond 10 October, 2014 | 6:00PM
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A new school year has started, bringing with it the usual act of juggling academic work and social life, not to mention the most challenging part of the performance: figuring out how to pay for it all.

This last aspect is particularly difficult with tuition at an all-time high; according to Statistics Canada the average undergraduate student paid $5,772 in tuition fees for the 2013/2014 school year, compared to $5,586 in the previous year. Unfortunately, there's no end in sight for the climbing cost of tuition.

Hence, it's time for students to take control of their finances, and the first step in doing that is becoming more knowledgeable. Melissa Jarman, director of student banking at RBC, says there's a lot of work that needs to be done to improve financial knowledge.

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Ashley Redmond

Ashley Redmond  Ashley Redmond is a Vancouver-based freelance writer.

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