Survey reveals 62% of Canadian students rely on family for financial support

A recent Ipsos survey conducted for Simplii Financial has revealed that 62% of Canadian post-secondary students anticipate needing financial assistance from their families to complete the school year.

Despite 53% of students claiming financial independence, most struggle to manage costs alone. The survey also shows that while 64% of students consider themselves financially literate, only 10% rate their financial independence as an “A.”

About 60% believe their financial education is adequate, though many face challenges in securing employment.

Simplii Financial has suggested leveraging student discounts, cash-back offers, and networking to ease financial pressures.

The survey sampled 400 students between July 26 and 30, with a credibility interval of ±6.0 percentage points.