OTTAWA--Financial barriers continue to prevent Canadians from pursuing post-secondary education and training, according to a study released today by Statistics Canada. Thirty-two percent of Canadian youth aged 18 to 24 cited financial reasons as the primary reason for not pursuing education and training, according to the study.

"Young Canadians are not able to afford the high costs of post-secondary education," said Katherine Giroux-Bougard, Chairperson of the Canadian Federation of Students. "Up-front, needs-based grants and a reduction in tuition fees are necessary to increase access."

The study reported that tax-based savings schemes like the Registered Education Savings Program disproportionately benefit wealthy Canadians. Families with an income above $100,000 were almost twice as likely to have education savings than families that earn less than $25,000. The report also found a correlation between family income and savings for their children's education."The vast majority of education-related tax-credits are not getting to the families that need them the most," said Giroux-Bougard. "The government should redirect the over $1.5 billion it spends each year on education-related tax credits to up-front grants."

The Canadian Federation of Students is Canada's largest student organisation. It is composed of over 80 university and college students' associations with a combined membership of over one half million students in all ten provinces.