- 92 per cent of Canadian post-secondary students feel financial stress, with social spending—like dining out and travel—being their top concern, ahead of tuition, housing, and groceries.
- Students feel less financially prepared than the general population, with low confidence in budgeting and credit knowledge; only 11 per cent say they’re financially stable.
- Parents underestimate their children’s financial stress, with gaps in understanding around credit card ownership and future concerns like student debt and job market challenges
- Toronto-Dominion Bank stock (TSX:TD) opened trading at C$101.47
As Canadian post-secondary students prepare to head back to class, a new survey from TD Bank (TSX:TD) reveals that financial stress is weighing heavily on their minds—more so than ever before. A staggering 92 per cent of students report feeling stressed about money, far surpassing the national average of 65 per cent.
This content has been prepared as part of a partnership with TD Bank and is intended for informational purposes only.
While tuition, housing, and groceries remain significant financial burdens, the survey highlights a surprising top concern: social spending. Nearly one in three students (31 per cent) say their biggest financial stressor stems from trying to keep up with friends—whether it’s dining out, attending concerts, traveling, or other social activities. In contrast, only 10 per cent of the general population shares this concern.
TD’s findings also reveal a disconnect between students and their parents. While 92 per cent of students admit to feeling financially strained, only 75 per cent of parents believe their children are under such pressure. The gap extends to credit card awareness: 80 per cent of students have a credit card (61 per cent in their own name), yet only 60 per cent of parents think their child has one—and just 35 per cent know it’s in their name.
Students are also more concerned than the general population about future financial challenges. They’re bracing for a tough job market (31 per cent vs. 11 per cent) and mounting student debt (25 per cent vs. 4 per cent), while parents are more focused on broader issues like the cost of living (54 per cent) and housing affordability (57 per cent).
The survey paints a picture of students struggling to gain financial footing:
- Only 11 per cent say they’re financially stable.
- Just 64 per cent feel knowledgeable about budgeting, compared to 84 per cent of the general population.
- More than a third (37 per cent) don’t understand how credit scores work.
- A striking 83 per cent haven’t checked their own credit score.
The survey, conducted by The Harris Poll Canada between August 14–18, 2025, included 197 current or incoming post-secondary students and 260 parents, within a nationally representative sample of 3,036 Canadians.
About TD Bank
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the sixth largest bank in North America by assets and serves more than 27.5 million customers. TD had $1.45 trillion in assets on April 30, 2025.
Toronto-Dominion Bank stock (TSX:TD) opened Friday trading 1.20 per cent higher at C$101.47 and has climbed 26.27 per cent since the year began.
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