Top Canadian Private Schools

Though Canada has an excellent public education system compared to many other countries, many Canadian parents prefer to send their children to private schools. In 2012, two thirds of Canadian parents told pollsters that they would send their children to a private school if they could afford it. There are two main reasons for this sentiment. First, private school students tend to rank higher on standardised tests. Secondly, the best ranking schools in Canada are often private ones. Additionally, some parents, especially expats, may want to send their children to independent schools that do not follow the national curriculum.

Regardless of the reasons, here is a list of top ranking private schools in Canada to send kids to:

Upper Canada College, Toronto

This is one of Canada's oldest educational institutions. It's said to be modelled after the prestigious Eton school in England. A boys' school, UCC is located in a sprawling 40-acre estate in the middle of Toronto, and has facilities such as a theater, two massive libraries and two ice skating rinks. School trips include visits to a 400-acre national park nearby, which the school operates. Notable alumni include the late Canadian media mogul Ted Rogers and current Canadian Liberal Party leader Michael Ignatieff.

History

UCC was founded in 1829 by a lieutenant-governor of the former British colony of Upper Canada. At the time, Canada was still under British rule. As one of the first secondary education institutions at the time, UCC was intended to be a "feeder school" to King's College, which became University of Toronto. The school still maintains its old British loyalties. Prince Philip, the Duke of Edinburgh, is a member of the board of governors and a "special visitor."

Curriculum

UCC is categorised as an an International Baccalaureate (IB) school. IB curriculum is followed until the students reach the Upper School and prepare for two diplomas, IB diploma and the Ontario Secondary School Diploma. The school offers enrichment programs in sports and the arts, including film making. There's also a leadership program offered where students can compete for the Duke of Edinburgh award.

Costs

As of 2010, tuitions fees per year came close to $30,575. For boarders, fees came around $50,000. A registration fee of $5,000 is mandatory.

Ashbury College, Ottawa

This prominent school has a reputation for accepting children of the elites coming to Ottawa to work in embassies and the World Health Organisation. It has been praised more than once as "one of Canada's great independent schools" by education inspectors. Located in a 13-acre estate in the city, the school accepts both boys and girls. The Ashbury is fashioned after old English Anglican schools. A significant portion of its current student population is non-Canadian.

History

The school was founded in 1891 by Canon George Penrose Woollcombe, an Oxford graduate, who served as its Headmaster for over four decades.

Curriculum

The school follows the Ontario curriculum. In high school, the students have the option to choose sitting for the IB diploma, the Ashbury diploma or the standard Ontario secondary school diploma.

Costs

A $3,000 one-time, non-refundable enrollment fee is required from all students. Current tuition for day students is $23,600 and $58,300 for boarders.

Pearson College, Vancouver Island

Pearson claims to be "unique" and rightfully so. The school is located in an isolated village facing the sea on the Pacific coast. Only about 200 students attend each year, and everyone admitted is awarded a full scholarship. Students are selected from over 100 countries and different backgrounds, rich and poor alike. Facilities at Pearson include a marina with a fleet of sailing boats.

History

The school was founded recently in 1974, following a campaign by Lester B Pearson, a former Prime Minister of Canada and a Nobel Laureate, to found a school regardless of "race, religion or politics." He got the idea for the school after touring the College of the Atlantic, a United World College.

Curriculum

All students are required to obtain the IB diploma to graduate, in addition to participating in an eclectic selection of extracurricular activities such as community service and work in the ecological reserve the school manages.

Costs

Pearson does not charge tuition. All fees are covered by a scholarship program.

Debt settlement is a form of debt reduction. Basically, debt settlement happens when a debtor, unable to repay the full amount owed, negotiates with the creditor for a reduced amount. Creditors often demand the reduced amount to be paid in a single lump sum in return for the forgiveness of the rest of the debt.

Debt settlement is not the same as debt consolidation or debt management.

Debt settlement is only possible when a debtor has incurred too much debt and is no longer able to repay the loans as agreed in the signed contract. There are many reasons why a borrower can end up unable to repay his or her debt. Loan payments are determined in advance considering the borrower's income at the time he or she applies for the loan. If the borrower loses this source of income during the period of repayment, then he or she will have to find alternative means to repay the loans. Debt settlement is one of the options to consider during such a situation. Creditors require exhaustive documentation on the part of the debtor proving that she or he is truly unable to pay back the money borrowed. Debtors are often asked to provide detailed documents of bank records, asset ownership, other debt, current income and any other information that shows financial hardship and inability to repay.

Debtors can negotiate with creditors for new terms of loan repayment or complete forgiveness. Creditors almost never forgive a loan completely. Most demand one-time payments, and if not, new terms of repayment with a lower monthly amount. In Canada, debt settlements are offered for personal loans, overdue credit cards, student loans and tax debts (interest only) with the Canada Revenue Agency (CRA).

The Pros and the Cons

The most obvious benefit of debt settlement is that the debtor will be paying the creditor a lower amount than initially borrowed. If not, at least the monthly payments will be reduced. Debtors can save as much as 50 percent on the original amount owed. Also, when the terms of the debt are renegotiated during debt settlement deals, the borrower will get a chance to lift or eliminate any previous unfair terms. On the flip side, debt settlement can ruin credit scores. Those who have good credit standings should be aware that debt settlement can significantly lower that standing. Therefore, debt settlement is mostly suited for borrowers who already have bad credit. Additionally, certain debt settlement companies charge an undisclosed amount as a "service fee" when new monthly payments are paid. When this amount is added, the renegotiated monthly fee can even be higher than before.

Who Offers Debt Settlement Solutions?

Debtors can reach settlement terms with their creditors. Not all creditors, however, are open to debt settlement. If the loan was issued by a bank or a financial institution, borrowers should directly appeal to that organisation to settle the debt. Certain debts with government agencies, like the CRA, can be settled only if the law permits. CRA, for example, is not allowed to settle the principal amount in tax debt. However, the CRA can relieve any additional debt incurred by interest rates or fees. Debtors can also settle with creditors via a debt settlement agency. These agencies negotiate with creditors on behalf of the client. Once the debt is settled, the debtors will be charged a fee by the agency, and sometimes this fee will be deducted from each of the monthly payments made to the creditor. Therefore, the Financial Consumer Agency of Canada strongly advises consumers to be extremely cautious regarding debt settlement agencies that offer deals that might sound "too good to be true".


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