Canada’s financial education sector has been transformed by the arrival of private schools, with students paying upwards of $10,000 for their first year of formal schooling.
Now, a new report reveals that Canadian financial education is suffering from a lack of transparency.
According to a study by the Canada School Boards Association (CSBA), financial education has a dismal track record.
“There is a significant gap between the data available from the CSBA and the information provided by schools and parents, with little or no data available on the students and their learning outcomes,” said a report from the Canadian Association of School Boards (CASB).
The CSBA’s report on the state of Canadian financial institutions is a damning indictment of the way that Canadian schools are set up.
In fact, it’s a direct attack on the government of Prime Minister Justin Trudeau’s economic stimulus package.
“The CSB report shows that many of the key initiatives that were put in place to create financial literacy, such as creating a new federal investment fund, are now being undermined by a lack-of-information culture,” said Dr. Susan MacKinnon, president of the Canadian Federation of Independent Business (CFIB), which represents the nation’s largest business owners.
“A lack of accountability in the financial industry is not only a matter of transparency and accountability, it is a matter that needs to be addressed as a matter in and of itself,” MacKinnen added.
“Financial institutions have been slow to develop an adequate set of policies that provide clarity to students and parents about the benefits of financial education, but we know that this is not enough.
As the report shows, the lack of openness has been a significant factor in the development of the crisis of confidence that many students experience.”
The CSBSA has long argued that Canadian colleges and universities are in a bad financial position.
The organization recently released a report that said students are paying more for their courses than ever before.
It also found that in the last five years, enrolment in financial education courses has decreased by more than 40%.
Despite the financial pressures, there is no doubt that Canada’s system of financial institutions has become more secure in recent years.
“The CFIB is calling on the federal government to improve the accessibility and accessibility of financial information on the books and for the government to provide financial education opportunities for all Canadians, including the working poor and students in need,” said MacKynnas.
“In the meantime, we call on the prime minister to make a clear commitment to invest in the educational system and support the growth of private, public, and co-operative financial education in Canada.”
The new report comes as Canada prepares to host the G20 Summit in Vancouver later this month.
According to MacKannen, the Canadian government has already committed $1.8 billion in federal aid to support the development and expansion of financial markets and the development, maintenance and protection of financial security in Canada.
The country is also investing in a number of innovative ways to improve student financial literacy and to provide the best opportunities for students to get their education.
Canada is currently one of the most popular destinations for international students to study in Canada, but it’s the lack, and the lack-access, of financial support that has been the biggest problem.
According the CSBSB, more than 70% of students who attend private schools in Canada do not receive the full financial support they need.
While the number of students attending private schools has risen dramatically over the past decade, the financial gap has grown even larger.
The CSBA estimates that a quarter of students in private schools will be unable to afford their first full year of tuition, and a further 25% will not be able to meet their first-year living expenses.
According the CASB, many private schools are charging more than $1,000 a day, a far cry from the $100 per month that many public schools charge.
The report also found many private universities do not have the resources or training to support students in the first years of their studies.
In the wake of the financial crisis, Canada is experiencing a resurgence in the growth and popularity of private universities.
According a recent report by the Association of Public and Land-grant Universities, there are now more than 400,000 private universities in Canada and an additional 20,000 in the United States.
The trend is set to continue, with many more private schools set to open this year.
The Canadian Association for Public and Charter Schools (CAPS) recently launched a program that will provide tuition-free tuition to all students, regardless of their financial circumstances.
In recent years, CAPS has also been providing financial assistance to students who need it, and students who are struggling financially.
“Private universities are doing a great job of providing financial aid, but unfortunately, they need to make it easier for students in particular to access this,” said CAPS president and CEO Julie L’Heureux.
“It’s not enough just to be able see a tuition waiver slip through your fingers. We