In past years, Americans have been heading up to Canada in search of cheaper prescription drugs and health care. But health care’s not the only thing that Americans are hoping to save money on by venturing north. According to the Boston Globe, since 2001, American enrollment in Canadian universities is up 50 percent. This is especially true in the northeast, where even public schools can cost more than $20,000 a year.
Furthermore, the number of American students heading up to Canada may well increase thanks to the declining Canadian dollar. Although the American dollar actually was worth a little bit less than the Canadian dollar a few years ago, currently the U.S. dollar is worth about $1.20 Canadian dollars. This means more Americans heading up to Toronto for bargain vacations, and more college students looking to escape rising tuition prices in the U.S.
This sounds like a great idea to me. There’s definitely something to be said for studying abroad, and college in Canada allows Americans to do this without straying too far from home, and for less. But what a shame. Can’t we afford to educate our own kids anymore?