Figuring out how much your education will cost can help you plan how to pay for it.
How much school costs depends on:
- the location of your school (physical location or virtual)
- what kind of school and program you'll be attending
- how long it takes you to complete the program
- living expenses while you're there.
Typical Costs for One Year
Tuition: $4,050 - $8,730
Books and Supplies: $1,307 - $1,717
Mandatory Fees: $611 - $1,275
Living Expense: living with parents: $2,000 - $4,000
Living Expenses: living independently (single student for 8 months): $9,000 - $11,200
- rent and utitlities
- food, clothing, personal care
- medical/dental, etc.
Figuring Out Your Costs
Your costs will be higher if you:
- live with a spouse or children
- move for school
- travel home during the school year.
Use as many of these resources as you need to help figure out your costs:
Figuring Out How to Pay
Many students pay for school using a combination of resources:
Managing Your Money
There are 3 ways to make your money go farther:
- Boost your financial know how.
- Lower your costs.
- Increase your income.
Check out these resources:
- Tips to Save Money While You’re in School— useful info from the Financial Consumer Agency of Canada
- Comprehensive Financial Planning for Education— a free online course from the University of the Fraser Valley
- Your Money— financial literacy from the Canadian Bankers Association
What’s Your Story?
Two students, two very different school costs.
Aaron is starting college in two months to study Environmental Sciences. He found a job for the summer where he’ll make decent money, but not nearly enough to cover all his expenses for his first year of school. He's planning to apply for student aid to cover part of his education and will work part-time through the school year to contribute to his costs.
Jennifer is a 35-year-old single mother. She’s going back to school to upgrade her education and become a nurse. With two small children, she knows she can’t handle a part-time job plus school work. Because of her circumstances, she will apply to student aid to help fund most of her education.