A recent report clarified that many Canadian students are considering dropping out of school due to financial problems.

This came after the release of new survey results conducted by Leger instead of Embark, a Canadian educational planning company.

The survey revealed enormous truths for Canadian students and how wealthy education has become for them, yet they are financially poor.

The survey also clarified that 44% of university students spend the majority of their income on financing their education without taking into account expenses for food and living.

On another note, parents also play a significant role in students' ability to afford their education, as 64% of respondents stated that they would not be able to afford schooling if they did not receive help from their loved ones.

Many believe that 41% of students will have to live with their parents for a long time after graduating.

Additionally, financial school costs will represent a burden on students in classrooms, as about 39% will affect financial commitments.

More than one in four, 26%, stated that they would consider leaving school due to financial circumstances.

About half of the surveyed students, 48%, said that post-secondary debt would be an unavoidable reality for them after graduation.

The results from Embark also revealed that students expecting to graduate with debt will have to pay back over $25,000, and it will take them about 2.8 years to repay it.

Students are also struggling with the costs of daily living, as more than 52% indicated that they have cut back on buying basic necessities to cover their expenses.