Paid in full update : Who pays for University education in BC?

The opinions and recommendations in this report, and any errors, are those of the author, and do not necessarily reflect the views of the publishers or funders of this report. [...] Dividing the total costs assigned to teaching undergraduates by the number of undergraduate weighted FTEs in BC universities, I calculate that the average instructional cost per weighted FTE in 2005/06 was $7,714.19 This corresponds to the costs of educating a first or second year Arts student and must be multiplied by the weight per year in a given program to estimate the four-year cost of differ [...] Weight per year is the average of the weights in each of the four years of the program. [...] Berger and Baldwin (2009) estimate that the govern- ment cost of providing loans (which includes administration, the cost of providing an interest-free loan for the duration of one’s studies, and the provisions for defaults) is between 30 and 40 per cent of the face value of the loan. [...] In comparison, the total value of student loans issued in 2005/06 was $3 billion.24 The value of this type of student financial aid is included in the analysis of the additional taxes university graduates pay over their lifetimes.25 22 HRSDC estimates that the three-year default rate on federal student loans was 10 per cent for university recipients compared to 18 per cent for those in college and