The student protests in Montreal have gotten so intense that authorities have made over 2500 arrests and also the fire is spreading to Ontario, where pupils are coordinating similar rallies in the forthcoming months. Considering that Quebec gets the best average tuition rates in the country, and Ontario has got the highest (about $6600, over two and a half times that of Quebec), the debate over reachable education is likely to move further and further to the public eye.
Putting aside human rights issues and the legalities surrounding the protests, one thing is clear: students are seriously interested in lowering the price of post-secondary education and minimizing the burden of debt it leaves on graduates in the years to come.
Still, even though this is actually the turning point in the struggle for accessible instruction, what can students do to ease their financial woes?
Surprisingly, among the easiest ways would be to utilize the support already provided by the authorities – student tax credits. Plenty of students are so preoccupied using the money they owe that they have forgotten about the taxed income to that they are entitled. The truth is, students can maintain expenses that are enough to cut back their taxable income and also rack up a tax return of thousands of dollars each year.
So long as you have a tax receipt from your own educational institution, you can claim a set monthly amount, in addition to the expense of tuition. You also live on campus or whether you’re a commuter, you can reap the benefits of the pupil tax credit system.
These credits may even be accustomed for their advantage, as they could be transferred when the pupil’s taxable income has been reduced to zero if the parents are the ones worried about paying for his or her children’s education.
The advantages don’t end upon graduation. For people taking several years to settle their loans, every little bit helps and this yearly refund could end up making a noticeable difference and shorten the period of time it requires to eliminate debt.