The average national one-year cost of university in 2019/2020 was $21,110 for students in residence and $11,210 for those living at home. Here is what the total cost of a four-year program (national average) could be in the future*:

The first year of tuition for students enrolling in a Canadian university in 2037 could cost them as much as $30,931 – that’s more than $127,000 for a four-year program. And as you can see below, tuition is only going to increase.

Year of Birth	Year of School Entrance	4-Year Tuition with Residence	4-Year Tuition without Residence
2021	2039	$122,651	$64,371
2020	2038	$120,425	$63,295
2019	2037	$118,248	$62,238
2018	2036	$116,091	$61,181
2017	2035	$113,974	$60,144
2016	2034	$111,897	$59,117
2015	2033	$109,851	$58,101
2014	2032	$107,844	$57,104
2013	2031	$105,847	$56,097
2012	2030	$103,880	$55,110
2011	2029	$101,943	$54,133
2010	2028	$100,027	$53,157
2009	2027	$98,140	$52,190
2008	2026	$96,283	$51,233
2007	2025	$94,466	$50,296
2006	2024	$92,669	$49,359
2005	2023	$90,893	$48,433
2004	2022	$89,146	$47,516

*Average annual increase based on previous 10-year data cited in Tuition Living and Accommodation Costs, 2019-2020. Statistics Canada, Sept. 2019. “Without Residence” costs are calculated for students who live at home while pursing their studies, not having to pay for either food or shelter costs.

To learn more about how to get ahead and save for your child’s education, contact Karen Wallace from Knowledge First Financial.