University Education in Canada

in Education, University Costs

So after attending my 20th anniversary alumni weekend, I have a new respect for having to save a pack-load of money to get your kids into University (and out the other end). I talked to a few alumnus and they were echo’ing my concerns about the costs of sending our kids to U Waterloo.

Are you guys curious as to what my Alma Mater says your costs might be (in this year’s money too folks, remember you have got to expect an increase in cost here):

Tuition Fees?

Co-op $2,919 – $5,911 $5,838 – $11,822

First number is for a four month term the second set of numbers is for 8 months.

Living on Campus?

Single $3,900 $3,900 Included $7,800

So this is for one of the Church Colleges on Campus, so that includes food too, but $7800 for 8 months. Yes living off campus is cheaper, but that has other costs like transport to take into mind as well.

Text Books?

Mathematics $722 $1,444

So that is the 4 month and 8 month costs. Yes that is $1444 for books. Might want your kids to figure out where the used book store is!

You want the whole ugly thing in one table? Well check this link for the entire article, but here it is:

Domestic student – co-op
Living
Tuition
Books
Other
Residence
Rent and local transportation**
Groceries
8-month
school year
In residence $5,838 – $11,822 $1,294 $2,512 $6,862 – $8,238 $16,486 – $23,866
Off campus $3,992 $2,008 $15,644 – $21,628
At home $9,644 – $15,628

How much were you planning on putting in your RESPs? Still think it is silly to start saving for University when your child is still in diapers? Remember, you have 4 8 month stints to pay.

Sorry for the sticker shock folks.

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

{ 2 comments }

{ 2 comments… add one }
  • Big Cajun Man May 31, 2006, 4:31 AM

    Good question, the end of the boomer generation is the “guilt” generation that must make life simpler for their parents and their children, but not themselves!!!! I am hoping my kids get into co-op and help their Dad out as well!!!

    Good take!

    –C8j

    Reply
  • Anonymous May 30, 2006, 6:40 PM

    I just graduated from UW, and I can say a good percentage of co-op students are able to cover their tuition fees thanks to co-op. However, we are pretty much left broke when we graduate, but at least we don’t have any student debt.

    On a side note, when did it become the parent’s responsibility to finance their child’s education? Was this a socially accepted norm 20-30 years ago?

    Reply

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