TORONTO, Aug. 18 (UPI) -- Half of Canada's university and college students only have enough money to last until Christmas break, a poll published in Toronto Tuesday indicated.
The RBC Financial survey of 1,200 post-secondary students done by Ipsos Reid in June showed 50 percent expected their funds to run out by the end of the year.
Part of the problem for students is the recession has pushed Canada's student unemployment to 20.9 percent, the highest rate recorded since the Statistics Canada agency began monitoring the category in 1977.
Regardless, the poll found 79 percent of post-secondary students plan to work part-time while in school.
RBC's director of student banking, Kavita Joshi, said the poll also showed concerns about academic performance.
"Working to make ends meet is an additional challenge for students, with at least three-quarters concerned that working will affect their grades and two-thirds believing that worrying about money will have a negative impact on their studies," Joshi said.
In the past year, 61 percent of returning students spent less on food, 57 percent spent less on alcohol, 23 percent didn't buy all the books they needed and 11 percent paid their tuition late, the survey showed.
The survey had a 2.8 percentage point margin of error, the release said.