Half-Price U? Let's Go, Canada! | Student Finance 101

Study while you work, to chop the costs? Ok, it's not a new concept, but I'm hearing some creative approaches starting up in the US and UK that Canadian universities and trade schools should take a look at.

Now first, let me state that I'm not in favour of cheaper education. Not really, no. I think education should be free. Investing in higher education pays society back big-time. You get more of a talent pool, higher income tax returns, more economic development, higher standard of living, less crime, higher quality of life... I could go on, but you get my drift.

So that's what I'd prefer to see: free education. But that's not the current trend. In fact, the trend is the opposite: jack the price up higher and slap more interest rates on the student loans everyone needs to pay the soaring costs of their schooling.

That's going to change. Someday. The wheel always does go round. But what to do if you're a student now and you're not made of money?

Here's a brand-new approach from England - which is going to need more of these experiments in England due to their dubious new policy of chopping grants for low-income students while jacking up tuition costs.

But this English example doesn't exactly sound inspiring, in terms of the education experience. So I'm saving the best for last... free tuition campuses.

Yup, call it Hard Work U. Which, in cash terms, sure beats Half-Price U. Plus it sounds like more of a bonding experience. And now there's 8 of them in the States, where y'all pitch in and get free tuition. Note that the economic downturn there could change that, as one of these 8 - Olin College of Engineering - has just had to raise its costs up to half-price tuition.

Oh well, you can also get free tuition at the international University of the People -- UoPeople, as it calls itself for short.

UoPeople is billed as "the world’s first tuition-free online academic institution dedicated to the global advancement and democratization of higher education." The hangup for those in competitve economies, such as Canada, is that it is still not accredited. Which makes it tough for the resume.

Still, if knowledge is your goal, this online university allows you to get your education virtually for free. You live at home (anywhere in the world) and only pay small fees for paperwork and tests. (Yes, they do test you, and they do have normal admission requirements, so their quest for future accreditation may well be achieved). In the meantime, UoPeople gets its drive from innovation, growing support and a largely volunteer staff.

Just one last thing, UoPeople, we can't overlook the irony in that name. If you graduate from UoPeople, U won't owe anyone.

So come on, all you Canadian campuses... Not everyone wants to graduate with a ball-and-chain of debt.

Get creative with no-frills, with online, with work-for-tuition, with whatever you can dream up. Let's step up, so all Canadians can get the education they need to earn a living wage!