I briefly mentioned that the level of undergraduate student debt in Quebec is $14,000 at the end of a bachelor's degree. Quebec's loans and scholarships program allows them to pay it all back after seven years, but the fact remains that it will affect their life choices after graduation.
As I said, 60% of students will postpone buying a house because of their debt and 40% will postpone their plans to start a family. In addition, 45% will postpone starting a business. Young entrepreneurs who would like to start a business in Quebec or Canada will not be able to do so because of their debt.
Forty per cent of undergraduate students will put off graduate studies until later because of their debt. Those students are ready to contribute to research, be it basic or applied, and to advance knowledge. We need researchers like that. However, because of their debt, students will not be able to contribution to their field.
If they have a debt while going to school, it might take them longer to graduate. As a result, they will not enter the labour market right away. As mentioned, salaries are not always guaranteed after graduation. It is not a guarantee that they will find work. Just because you have a bachelor's degree or a graduate degree does not mean that a job awaits you once you are out of school. You still have to find it. In addition, you don't know how much you are going to make.