Majority of Canadians think PSE is too expensive, survey finds

September 23, 2010

According to a new survey from BMO Financial Group, 64% of Canadian respondents believe the cost of a higher education is too expensive. Just 21% of parents with children under 18 feel confident they would be able to cover the cost of a 4-year program at a Canadian university. Three-fifths of students between the ages of 18 and 24 echo their parents' concerns, with 28% believing they will struggle to pay off PSE costs, and 32% expecting to be in debt for years to come. 52% of parents with children under 18 report contributing to an RESP. Among those who are not investing in an RESP, half do not contribute because they say cannot afford it, and another 16% say they are either unfamiliar with RESPs or do not have time to set one up. BMO Financial Group News Release