Over 2/3 of Canadians concerned about increasing costs of PSE, survey finds

October 18, 2011

69% of Canadians are concerned about the affordability of high education, according to a new study released by BMO Financial Group. BMO states that a 4-year university degree can currently cost upwards of $60,000, and various sources predict that a child born in 2011 could face education costs of about $140,000 when they are ready to enrol in university. Despite these figures, the study found that 56% of surveyed Canadians with young children have an RESP in place. Those who do not have an RESP or are contributing less than usual cited lack of money as the main reason driving their decision. 40% of those surveyed said they contributed the same amount as they did last year. BMO Financial Group News Release