CAN YOU AFFORD TO EDUCATE YOUR CHILDREN? MORE IMPORTANTLY, CAN YOU AFFORD NOT TO?

As it becomes more and more difficult for young people to afford a college or university education, it also becomes more and more important they get one. Currently, two-thirds of all new jobs require a post-secondary education.* We believe this statistic is likely to increase rather than decrease. Find out how much it could cost  to give your child the benefit of a higher education.

LET’S DO SOME MATH.

For the class of 2012… 

These are the kids who entered their first year of university or college in September 2008, for whom the average tuition fees ranged from $3,400 to $5,900  a year. Living in residence or a shared apartment could easily add another $7,000 or so over the school year.** And adding incidentals like books, transportation and the occasional night out can easily account for another $2,500 or so.

Multiply that by 4…

What do you get? For parents who haven’t planned ahead, a four-year university program  can quickly amount to a $60,000 anxiety attack.

And 18 years from now…

Let’s suppose costs rise a modest three per cent annually. Children born in 2008 could be looking at a bill of almost $30,000 for their first year of post-secondary education.

*Statistics as per www.pathwaytoprosperity.ca
** Statistics Canada 2007/2008