How much will higher education cost?
It is estimated that the full cost of a 4-year undergraduate degree from a Canadian university in 2025 could cost over $116,000...
| Year of Birth |
Year of
School Entrance |
Estimated Cost
of Total Tuition
for a 4-Year
Program*(At Home) |
Estimated Cost of
Total Tuition and Accommodation
for a 4-Year Program*
(Away from Home) |
|
| 2008 |
2026 |
$76,751 |
$122,926 |
| 2007 |
2025 |
$72,619 |
$116,826 |
| 2006 |
2024 |
$68,709 |
$111,028 |
| 2005 |
2023 |
$65,010 |
$105,519 |
| 2004 |
2022 |
$61,510 |
$100,282 |
| 2003 |
2021 |
$58,199 |
$95,306 |
| 2002 |
2020 |
$55,066 |
$90,576 |
| 2001 |
2019 |
$52,101 |
$86,081 |
| 2000 |
2018 |
$49,296 |
$81,809 |
| 1999 |
2017 |
$46,642 |
$77,750 |
| 1998 |
2016 |
$44,131 |
$73,891 |
| 1997 |
2015 |
$41,755 |
$70,224 |
| 1996 |
2014 |
$39,507 |
$66,740 |
| 1995 |
2013 |
$37,380 |
$63,428 |
|
Today’s average cost of a 4-Year
program beginning in 2007/2008 |
$26,820 |
$46,736 |
|
Average cost of a 4-Year
program in 2006/2007 was |
$25,375 |
$44,416 |
|
* Based on Statistics Canada figures the increase from 1995/1996 to 2006/2007 in total tuition cost was 5.69% and the increase in the cost of accommodation over the same period was 4.53%.
You already know what your options are
Today families without an RESP have to:
- Borrow the money
- Withdraw funds from their personal savings,
retirement funds or investments
- Mortgage their home
- Pay-as-they-go
- Let their child earn the money or depend on student loans
Students with an RESP are more focused on their education, not the cost of it!
Talk to us about your RESP
Your Heritage RESP Representative can advise you on a realistic contribution schedule to achieve your child’s education goals. Talk to us about your family’s education plans.