BANK SURVEY FINDS KIDS GIVINGUP TOYS FOR EDUCATION

By Shawn Jeffords, Ontario Bureau Chief. Ontario Bureau

TORONTO (CUP) - A survey that foun<.I a quarter of 8 10 I2-ycar-old children ate snving money for a university education bus some calling the findings "haseless" and "ridiculous."

The poll. conductc<l in October by the Bank of Montreal (OMO), asked the children and their parents whether lhcy were saving up for higher education. The poll round that children were growing more consciou of' lhc cost of p~ist•secondary education and were saving their ullowanec to help offset tuition fees down the road.

The poll also fuund that 21 per cent would give up video games and I 6 per cent were willing to give up toys 10 help save money.

"Thanks 10 guidance of their parents, many children arc balancing short-term want , i;uch as video games, with long term goals, such as education," said Linda Blair, vicepre~ident or BMO mutual funus. in u prepared statement.

Henry Jacek, president of the Ontario Cunt'ederalion of Faculty Associations. calls the survey "ridiculous'• and said it~ findings ''lack credibility."

"The danger of a Sllrvcy like this is that it may discourage people who can't save the money," said Ja<.:ek."You'll make talented pcupk think that they can·1afford an education alld that they shouldn't go to university.''

Jacek says the survey is in the bank's financi,1I be. t-intercsl as it may steer families away from student loans and toward long-term saving instead.

"The banks don't like stu<lcnl loans