Nearly half of Canadian students say they will have either have no debt or owe less than $10,000 upon graduation, according to a new study from BMO Financial Group. In fact, the average owed by all students is $18,800, according to Statistics Canada. On top of that, nearly two-thirds (63 per cent) think they will be able to pay off their student debt within five years of graduation. The default repayment period for government loans is nine-and-a-half years. The study included 625 college and university students and was conducted by Leger Marketing.