Cost of Education

Getting a degree or a diploma isn’t cheap. Tuition fees are climbing and this trend is not expected to reverse anytime soon. How much you will have to pay for post-secondary education depends on many factors, such as:

• the institution
• type of course chosen
• course length
• living arrangements
• ability work part-time

There are forms and formulas available to help you calculate what your costs will be. The TD Canada Trust bank has a work sheet you can use. The calculations are based on an annual cost of $4,000 per year for a student living at home and $10,000 a year for a student living away from home.

The Directory of Canadian Universities warns students to expect to pay more than $40,000 to get a degree. These costs will increase with inflation as time passes. In fact, many people today are budgeting up to $15,000 per year for post secondary education. 

A good general overview by the Canadian Bankers Association is at:

Saving for Education.  This site covers various ways in which parents and students can save for post-secondary education.