Canadian students have it pretty tough. Last year, an OECD report placed Canada fifth in a ranking of highest tuition costs in the world. The average Canadian student pays around $6,200 annually for the privilege of post-secondary education.
Rather than being burdened by debt for a significant part of their young adult lives, many are turning to an alternative method of financing their education: sugar daddies.
Seekingarrangement.com is a matchmaking website that pairs “sugar babies” with wealthy benefactors who will give them money for dates and “other arrangements.” A recent report by the company revealed that an increasing number of Canadian students are signing up for its service.
The University of Toronto, for example, is home to 683 students who were actively seeking sugar daddies prior to this school year.
Seeking Arrangement’s founder, Brandon Wade, calls it a “serious crisis.” One that’s great for business, of course.
His company defines the two types of people who use the service as such:
“Students know they must acquire a degree if they hope to look forward to higher salaries, but how can they achieve that if these institutions continue to raise prices?” ponders Wade. Indeed, it’s tough out there. The average student debt currently hovers at around $25,000 – not exactly the ideal situation with which to kick off your life.
“When you’re a student, you’re definitely more vulnerable and you’re getting involved with someone who might be a bit more established in their life and career, and (the student) might be negatively impacted,” said University of Alberta Students’ Union president Fahim Rahman, whose school saw 138 new sign-ups to Seeking Arrangement’s service.
Seeking Arrangement currently connects students from over 100 countries with sugar daddies – 8% are from Canada.
At least they’re doing it for a noble reason…?