In addition to tuition, students need money for books, housing, utilities, food, transportation and other expenses.  Full-time students in Canada paid $14,500 on average to cover a year of post secondary expenses in 2003-2004. That's roughly $58,000 for a four-year program.

The Investor Education Fund’s University Cost and Debt Calculator is a great place to start when estimating your university/college costs.  Simply select the province, school and program you’re interested in and the calculator will tally your costs (including living expenses) over your 3-year or 4-year program.

Tuition

Depending on the school or program, a student attending CEGEP, trade school, college or university full-time today can expect to pay between $2,500 and $8,000 per year or more in tuition alone.

Tuition may vary for different reasons:

• Program choice - Some programs charge more than others so you might want to investigate costs upfront.
• Co-op - Co-operative education programs usually last longer and cost more than regular full-time programs. However, the benefits of co-op programs may outweigh the higher costs—co-op students are generally paid for their work terms and gain valuable work experience.
• Class type - The format of lectures, amount of lab time needed and number of teaching assistants may affect tuition fees.
• Student Fees - Some schools include fees in tuition costs to fund certain services, clubs and events.
• Other factors - The school’s location (urban vs. rural setting), the type of institution, and the years of schooling required are other factors that can also influence costs.

Books/Supplies

The cost of books can influence the overall amount of money that you’ll need for school. Several options are available to you with regards to books.

• School bookstore - Buying new books each semester can be an expensive choice, though you benefit from the most recent editions.
• Second-hand books - With the right amount of time and patience, buying used books can be a much less expensive alternative. Visit used bookstores or look for signs and pamphlets around campus advertising used books.
• Borrow books - If you know someone who has taken the same course, simply ask to borrow the books.
• Buy books online - You can get both new and used books online. But be patient: shipping may take a while. You may also want to see if you and some of your fellow students can negotiate a discount by buying your books together in bulk.

For more tips about buying textbooks, please see the following Studentawards articles:

How Do I Know Whether I Need to Buy Textbooks?

How Do I Know Which Edition of a Textbook to Buy?

How Do I Know When to Buy Textbooks? 

How Do I Save Money on Textbooks? 

Living Expenses

Living expenses can make up a big chunk of the money you’ll have to pay out during school. For example, residence fees can be upwards of $8,000 (including a meal plan). This can double or, in some instances, triple post secondary expenses. 

If you will be going away to school, housing (i.e. rent or residence fees) will form a large part of your living expenses, but there are others to consider.  Below are links to some money-saving tips that can help reduce living expenses.

Money-Saving Tips – Technology 

Money-Saving Tips – Food and Drink

Money-Saving Tips – Wardrobe

Money-Saving Tips – Personal Care

Tips for Saving Money on Transportation

Money-Saving Tips – Transportation

Money-Saving Tips – Entertainment

Vacation Money-Saving Tips

Source: www.canlearn.ca

Cost of Post-Secondary Education

Cost Breakdown

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SLally wrote:	To universitybound3, Hi, I was also considering this for my first year of university in Sept. 2013. I think that if I stay at home, I will have regrets later on. I think that staying on campus would also allow you to focus more on school. Posted on May 08, 2013 at 12:53
universitybound3 wrote:	I have been debating whether I should go away for university or not, and i feel that its the best to stay home for me, so I can focus on school without the worry of extra costs, I could incounter on my own, LOL. Posted on Aug 10, 2012 at 10:59

 

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