Registered Education Savings Plan

The Cost of Postsecondary Education

As the table below clearly illustrates, education provides better access to the labor market and higher salaries:

Average salary in Québec
by education level
High School	College	University
$24,071	$28,742	$45,834

Source: Statistics Canada, 2001 census

Will your children have the means to study?

Education is expensive. According to a financial projection based on figures from Statistics Canada and Université de Sherbrooke, it will cost a child born in 2005 entering a four-year university program in 2023 nearly $55,000, or more if he or she lives away from home.

Average cost of a year of university education in 2007-2008

	Living at home	Not living at home
Tuition fees (Québec)	$2,025	$2,025
Other mandatory fees (Québec)	$698	$698
Living expenses
Books and school supplies	$800	$800
Housing, electricity, heating	$0	$2,240
Food, pharmaceutical supplies	$800	$2,200
Transportation	$308	$800
Telephone, cable, Internet	$160	$680
Clothing	$640	$640
Leisure	$640	$640
Miscellaneous	$640	$1 200
Yearly total	$6,711	$11,923

Tuition and other mandatory fees vary according to program and province. Living expenses also vary according to individual student needs and city of residence.