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 Sales 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.
Heritage Education Funds is a division of Knowledge First Financial Inc. Knowledge First Financial Inc. is a wholly owned subsidiary of the Knowledge First Foundation and is the investment fund manager, administrator and distributor of the education savings plans offered by Knowledge First Foundation and Heritage Educational Foundation. For more information about our education savings plans, please visit knowledgefirstfinancial.ca or refer to our prospectus.