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Education opens up doors in the job market, but also leads to a better salary, as indicated in the following table:
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Average salary in Québec based on education level
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Secondary
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CEGEP
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University
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$24,071
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$28,742
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$45,834
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Source: Statistics Canada, 2001 Census of Population.
But will your children or grandchildren have the means to pursue higher learning?
Education is costly. According to a financial projection prepared using data from Statistics Canada and the University of Sherbrooke, a child born in 2005 who enrols in a four-year university program in 2023 will have to pay over $55,000! That is a lot of money! And the price tag gets even heftier if the student has to study away from home.
For a personalized estimate of the cost based on the age of your children or grandchildren, click here.
Cost of a year of university study for the 2006-2007 school year
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Living with parents
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Living elsewhere
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Tuition fees (Québec)
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$1,916
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$1,916
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Other mandatory fees (Québec)
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$624
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$624
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Living expenses
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Books and school supplies
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$800
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$800
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Housing, electricity and heating
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$0
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$2,000
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Food and healthcare products
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$800
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$1,920
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Transportation
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$308
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$800
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Telephone, cable and Internet
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$160
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$680
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Clothing
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$640
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$640
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Entertainment
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$640
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$640
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Miscellaneous
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$640
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$1,200
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Total for the year
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$6,528
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$11,220
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Tuition and other mandatory fees may vary from province to province depending on the course of study. In addition, living expenses vary based on the needs of each student and the city of residence.
Sources: Statistics Canada and a budgeting tool developed by the University of Sherbrooke Financial Aid Department.
Cost of four years of university study
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At home
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Elsewhere
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2005
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$27,101.88
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$46,731.45
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2006
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$28,123.28
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$48,341.75
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2007
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$29,185.75
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$50,010.77
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2008
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$30,291.03
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$51,740.80
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2009
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$31,440.96
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$53,534.22
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2010
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$32,637.44
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$55,393.50
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2011
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$33,882.48
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$57,321.22
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2012
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$35,178.16
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$59,320.07
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2013
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$36,526.68
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$61,392.84
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2014
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$37,930.31
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$63,542.45
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2015
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$39,391.44
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$65,771.95
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2016
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$40,912.56
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$68,084.49
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2017
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$42,496.29
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$70,483.38
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2018
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$44,145.35
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$72,972.05
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2019
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$45,862.59
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$75,554.09
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2020
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$47,650.99
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$78,233.23
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2021
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$49,513.66
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$81,013.37
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2022
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$51,453.88
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$83,898.58
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2023
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$53,475.04
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$86,893.08
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2024
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$55,580.71
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$90,001.30
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2025
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$57,774.63
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$93,227.83
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For a personalized estimate based on the age of your children or grandchildren, (available soon).
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