Students, parents don't see eye-to-eye on paying for PSE

August 26, 2014

The results of new polls conducted by CIBC show a significant gap between students’ understanding of how they will finance their education and that of their parents. According to survey results, parents on average expect the total cost of PSE to be $64,300. Parents are willing to pay 67% of that cost to support their children’s education, and 21% are willing to foot the entire bill. Students, on the other hand, said that parents are willing to pay 33% of the cost of school expenses and expect to pay 33% of their tuition and other school expenses themselves. 41% of students said that parents should be paying just 25% of the cost of PSE. “Part of the disconnect between parents and their children is likely that students aren’t accounting for all the costs beyond tuition,” said Marybeth Jordan, Managing Director of CIBC Investor’s Edge. These figures follow another recent CIBC poll on student attitudes toward education debt. CIBC News Release | Financial Post