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Post-secondary students feeling the financial crunch: CIBC poll
Post-secondary students feeling the financial crunch: CIBC poll Canada NewsWire ...
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"\n\n\n\n Post-secondary students feeling the financial crunch: CIBC poll\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Canadian students struggling to manage expenses amidst economic uncertainty and rising cost of living\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 21, 2025\n \n\n /CNW/ - A new CIBC poll reveals that amidst the rising cost of living, a tough student job market, and general economic uncertainty, Canadian post-secondary students are struggling to make ends meet as they head back to class this fall, with nearly half (48%) feeling uncertain about their ability to cover all expenses.\n \n\n\n\n\n\n\n\n\n\n Managing expenses and financial pressures\n \n\n\n Canadian students are balancing a range of rising expenses, with top costs including rent or residence fees, groceries and food, transportation, and entertainment or social activities. To help meet these financial demands, students are leveraging multiple funding sources – 78% hope to work during the school year and 53% will take out student loans. Despite these plans, nearly half (48%) say they feel overly dependent on their parents for financial support.\n \n\n \"Students across\n \n Canada\n \n are navigating significant financial challenges, from the rising cost of living, to unique student-related expenses,\" said Frank Psoras, Executive Vice-President, Personal Banking Products and Payments, CIBC. \"Many students are responding by finding additional sources of income and adopting effective budgeting strategies, such as creating a detailed budget and reducing non-essential spending.\"\n \n\n Key budget management strategies students are adopting include:\n \n\n\n\n Spending cuts\n \n : Creating a budget (55%), redeeming student discounts (36%), using loyalty cards (32%)\n \n\n\n Reducing discretionary spending\n \n : Cutting back on non-essentials (49%), staying in more (36%)\n \n\n\n Lowering living costs\n \n : Buying cheaper brands or using coupons (45%), living with family (40%)\n \n\n\n Reducing education costs\n \n : A...