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Tuition Fees on the Rise
 
It's getting more expensive to fund a post-secondary education.

New data from Statistics Canada shows tuition fees for undergraduate programs jumped an average of 3.3 per cent in the 2017-2018 school year to $6,571. Tuition fees for graduate programs rose an average of 2.4 per cent to $7,086.


 

The average undergraduate tuition cost varies depending on what program a student is enrolled in, from $5,773 for humanities to $7,409 for business, management and public administration.

Dentistry is the most expensive field in Canada for undergraduate students, with average yearly tuition at $23,474. Medicine ranks second at $14,780, while law comes in third at $13,332.

Those numbers don’t include books, supplies and additional fees, which can add hundreds of dollars.

The rise in tuition fees for 2017-2018 is hardly a blip. On average, according to StatsCan data, undergraduates pay about 40 per cent more in tuition than they did 10 years ago.

 
 
With this in mind, it's more important than ever for parents to have a plan and start saving early for their children's education.
 
We Can Help

If you have questions about funding your child's post-secondary schooling, including setting up an RESP account, speak to your Financial Advisor or contact investor services at 1 800 608 7707.

Additional Information

Benefits of an RESP

  • Up to $7,200 in Government Grants
  • Tax-Sheltered Growth
  • Flexible Investment Options
  • Tax Savings

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The Value of Advice Getting Advice
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Reviewing your Education Savings Plans? We encourage you to talk to us. Click here, if you would like to discuss your education plans or to receive information by mail. Not a GP client yet? Find out more about:
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