The Cost of a Higher Education

It is estimated that the full cost of a 4-year undergraduate degree from a Canadian university in 2035 could cost over $152,0001.

Year of Birth
 
Year of Entrance
 
Basic 4 year Tuition1
 
4 year Tuition Including Expenses2
2017 2035 $85,771 $152,284
2016 2034 $81,735 $147,709
2015 2033 $77,895 $142,992
2014 2032 $74,300 $138,300
2013 2031 $70,900 $133,500
2012 2030 $67,700 $128,900
2011 2029 $64,700 $124,500
2010 2028 $61,800 $120,200
2009 2027 $59,000 $116,200
2008 2026 $56,300 $112,300
2007 2025 $53,700 $108,600
2006 2024 $51,300 $105,100
2005 2023 $49,000 $101,700
2004 2022 $46,800 $98,400
2003 2021 $44,700 $95,200
2002 2020 $42,600 $92,000
2001 2019 $40,700 $88,900
 
Today's average cost of a 4-Year
program beginning in 2016/20171, 2
 
$35,600 $80,600

1. This amount represents tuition for four years. Source: Actuarial Report on the Canada Student Loans Program as at July 31, 2011, Office of the Chief Actuary, Office of the Superintendent of Financial Institutions Canada, 2012.

2. Expenses include student tuition fees, books, shelter, food and transportation. The resources assessed include student earnings, assets and parental contributions. Students are first separated into three groups based on their living arrangement. Source: Actuarial Report on the Canada Student Loans Program as at July 31, 2011, Office of the Chief Actuary, Office of the Superintendent of Financial Institutions Canada, 2012.

What are your options:

· Borrow the money
· Withdraw funds from your personal savings,retirement funds or investments
· Mortgage your home
· Pay-as-you-go
· Let your 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 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.