There are multiple costs to consider when pursuing a post-secondary education. Tuition and books is only part of the costs of a post-secondary education. Other costs can include living costs such as rent, which can vary significantly depending on where you choose to live, food, transportation, and other expenses like supplies (a computer, a cell phone, binders, paper, etc.). You can start by estimating these annual costs followed by your funding sources including but not limited to, employment income, scholarships and bursaries, personal savings, and any educational savings plans. This approach can help you estimate the total costs versus funding and will help you identify if you will financial situation will support the total costs of education.
You can use our NEW Educational Cost Calculator on GetSmarterAboutMoney.ca to estimate the cost of attending a specific college or university program, identify any funding shortfalls and compare borrowing options if necessary.