University is expensive. Students get that, but how expensive, exactly? When it comes to comparison shopping between schools, tuition is the easiest number to consider. But for many students—particularly those who move away from home—school fees are only a fraction of the overall price tag.
To determine the real price of an education in Canada, Maclean’s undertook a first-ever survey of 23,384 undergraduate students to find out how they spend their money—and how they saved for an education. We found the average cost of a year of post-secondary education in Canada is $19,498.75. But for some students, the amount is significantly higher.
A University of Toronto student living off campus can expect to spend $23,485 each year, the highest average amount in our survey. Second on list was Ryerson at $23,066 followed by Saint Mary’s University in Halifax at $22,892. Meanwhile, students living at home and attending Sherbrooke had the lowest costs for an education, at just $4,284.
In most cases, rent is a bigger expense, but there are other costs to consider: books, booze, extracurriculars and groceries. There are also bus or plane tickets to visit Mom and Dad. Some of these costs seem insignificant, but