Future Education Costs

Tuition is expensive, but education is invaluable

Education will open many doors for your child. But with education costs rising faster than the cost of living, those doors can be expensive to open. That’s why now, more than ever, it’s best to have a plan – a savings plan.

The first year of tuition for students enrolling in a Canadian university in 2035 could cost them as much as $27,274 – that’s more than $112,000 over a four-year program. And as you can see below, tuition is only going to increase.The first year of tuition for students enrolling in a Canadian university in 2036 could cost them as much as $29,976 – that’s more than $123,000 for a four-year program. And as you can see below, tuition is only going to increase.

Year of
Admission
to Studies
With Residence Without Residence
First
Year
4 Year
Program
First
Year
4 Year
Program
2019 $21,041 $87,164 $11,241 $46,764
2020 $21,541  $89,184  $11,541  $47,974
2021 $22,041 $91,214 $11,841 $49,184
2022 $22,541 $93,284 $12,141 $50,414
2023 $23,061 $95,375 $12,451 $51,645
2024 $23,571 $97,485 $12,751 $52,885
2025 $24,111 $99,625 $13,071 $54,135
2026 $24,631 $101,785 $13,371 $55,385
2027 $25,171 $103,975 $13,691 $56,645
2028 $25,711 $106,185 $14,001 $57,905
2029 $26,271 $108,425 $14,321 $59,175
2030 $26,821 $110,685 $14,631 $60,455
2031 $27,381 $112,985 $14,951 $61,755
2032 $27,951 $115,315 $15,271 $63,065
2033 $28,531 $117,675 $15,601 $64,385
2034 $29,121 $120,075 $15,931 $65,715
2035 $29,711 $122,505 $16,261 $67,055
2036 $30,311 $124,956 $16,591 $68,396
2037 $30,931 $127,446 $16,931 $69,756
         

Click here for a downloadable version of the Guide to Education Costs

Projections based on data from Statistics Canada, Tuition and Living Accommodation Costs for Full-time Students at Canadian Degree-granting Institutions Survey, 2016-2017. All fees and costs reflect a regular academic year of two semesters (8 months) for full-time (30 Credits) domestic students. Statistics Canada calculates weighted averages using the most current enrolment data available at Canadian degree-granting institutions at the time the data is released for a given reference period. Weighted averages include public and private institutions. Compulsory fees cover items such as Athletics, Health Services, Student Association fees, and others.
* "Without Residence" costs are calculated for students who live at home while pursuing their studies, not having to pay for either food or shelter costs.

Having my parent’s endless support, including financial backing, allowed my brother and I to be the first members of our family to attend Canadian universities and pursue all the opportunities that have come with that experience.

Harkawan
B. Sc., McMaster University
Knowledge First Financial student beneficiary

The advantage of a post-secondary education

Whether its trade school, a college diploma or university degree, post-secondary education is an investment with great returns for your child.

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