At What Cost?
Expenses
Universities across Canada vary in cost. Tuition rates can even differ between programs at the same university! But there are more payments than just tuition. Expenses at university include:
Tuition Fees
Tuition payments cover the cost of educational services. The payment is usually due at the start of the semester, make sure to pay it on time to prevent extra fees!
Prices differ between institutions, but the average Canadian university student pays about $7,000-$8,000 per year.
On top of tuition, there are also annual student and enrollment fees, that range from $200-$400.
Living Expenses
Living expenses are payments you make for housing.
On average, Canadian university students pay about $5,600 per year to live in residence (living on campus).
Keep in mind that you will need to purchase materials for your room in addition to residence fees, such as bed sheets, cleaning supplies, or a fan.
Some students choose to leave home and rent an apartment off-campus.
If you plan to live off-campus, keep in mind the housing prices in the area and what items you will need to purchase for the space.
If you are living at home while attending university, you will not have to pay residence fees.
Food/Meal Plan
If you live in residence, you will have to pay for a meal plan. This is paid in advance and lets you eat at establishments on campus with the use of a swipe card.
With meal plans, you can choose how often you plan on eating on campus.
Meal plans cost about $2,000 per year, prices vary by institution.
If living off-campus, you will need to pay for groceries.
Transportation
Costs of transportation range from student to student.
Daily, you may need to pay for gas, or a bus or subway pass to get from your living space to class.
Of course, there are no transportation costs when attending university online.
If you attend university outside of your home province, you may even have to pay for airplane flights home.
School Supplies
Whether studying in person or virtually, having the right tools is essential.
Depending on your program, textbooks, computers and other school-related supplies can cost $1,000-$2,000.
Personal Expenses
Everyone loves a good movie night. Unfortunately, movies aren't free. Personal expenses can be anything from your phone bill to medicine to a nice coffee.
They are usually small expenses individually, but can add up to hefty sums.
Even some extracurriculars require payments.
Average Cost
As of the 2020-2021 school year, the average university student pays nearly $23,000 towards post-secondary education per year. As you can see, university isn't cheap. But there's no need to stress. As a high school student, you can plan for how much money you will need to cover the payments. Having an idea of programs of study and schools that interest you is a great place to start. This will allow you to better estimate your expenses. Here's a calculator that can give you an idea of how much your post-secondary education will cost.