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The first $100,000 is the hardest to save for newcomers Nov 26th
Immigration has become a contentious political issue in both the United States and Canada in recent years. A big reason is the perception that newcomers to these countries are competing for jobs and driving up the cost of housing. The re-election of Donald J. Trump is almost certain to make this an .... More »
More Canadians are rethinking their bank. Should you? Jul 22nd
Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled.
.... More »
The best credit cards in Canada for 2025 + MORE Nov 12th
Canadians have no shortage of options when it comes to selecting a new credit card. Whether you’re looking at a Visa, Mastercard, or Amex from a fintech, big bank, or credit union, we’re here to help you sort through all your choices.
To make it easier to find the best credit card for you, we.... More »
How AI is helping Canadians budget, save, and tackle debt Aug 1st
Canadians are increasingly turning to artificial intelligence for help with their money. From smart budgeting tools to automated investing apps, AI is quickly becoming part of how we manage our finances.
According to research by Ipsos Canada, commissioned by BMO, 33% of Canadians use AI tec.... More »
What happens if you get rejected for a credit card? May 7th
You’ve applied for a new credit card, hopeful for the convenience and benefits it could bring, only to receive notice that your application has been declined. It’s a situation that may stir up a mix of emotions—frustration, confusion, and perhaps even a bit of embarrassment. But rather than b.... More »
Can debt consolidation help with Canadian student loans?
– moneysense.ca
Ask MoneySense
My parents have RESP savings, and I have a few part-time jobs and some support from other family members. But it’s not enough. I am wondering about OSAP, as I have a tight budget. My parents always warned me that taking on debt was “bad,” though, because they had student loans and it took a long time to pay them off. Is student debt a bad idea? Will it keep me stuck in debt? Can I consolidate it when I’m done school?
My parents have RESP savings, and I have a few part-time jobs and some support from other family members. But it’s not enough. I am wondering about OSAP, as I have a tight budget. My parents always warned me that taking on debt was “bad,” though, because they had student loans and it took a long time to pay them off. Is student debt a bad idea? Will it keep me stuck in debt? Can I consolidate it when I’m done school?
—Sam
Can you include student loans in debt consolidation?
Thank you for your questions, Sam. You’re definitely not alone in worrying about taking on student debt. We’ll explore ways to keep your debt down during your studies, and I’ll walk you through what to do if you can’t repay your student loan.
How much does post-secondary education cost in Canada?
For many Canadians, post-secondary education can be the key to achieving their career goals. While schooling in Canada isn’t as expensive as it is in, say, the United States, it can still be much more than some people can afford…
