“How to finance your studies” takes place on Wednesday June 8 at 7 p.m. in the school library.
Figuring out how to finance a college education can be stressful for parents and students, but Vanier Collegiate hopes to ease that anxiety by hosting an information night with Conexus Credit Union.
“How to finance your studies” takes place on Wednesday June 8 at 7 p.m. in the school library. The event is for Vanier students in grades 10, 11 and 12 and their parents.
Topics covered include access to Registered Education Savings Plans (RESPs), obtaining a line of credit and student accounts, accessing the Canada-Saskatchewan Integrated Student Loans Program, obtaining scholarships/bursaries/financial awards and acquiring advice on financial literacy.
Presenters will include someone from Conexus Credit Union, someone talking about scholarships, and someone talking about student loans.
For more information, contact Christa Lapointe at 306-693-6744.
According Maclean’s magazine, tuition is only part of the cost of a college education. There’s also the cost of books, food, travel, and the occasional beer.
Students living at home while in college typically spend $9,300 per year on average, while for young people moving for post-secondary education, that figure is around $19,498.75 per year.
Since many undergraduates live off-campus while in college—and spend $19,498.75 a year— Maclean’s calculated that these students spend 40% on rent, 34% on tuition, 8% on groceries, 5% on campus food, 4% on the return trip, 4% on course materials and books, 3% on alcohol. , two percent on commuting to and from school and one percent on extracurricular activities.
When it comes to paying for post-secondary education, Maclean’s found that only half of students are in debt for their studies. However, the bad news is that the parents are taking over and not being very effective.
Nearly two-thirds of students (58.7%) told the magazine that they had no RESPs to rely on to fund their education.
Meanwhile, 39.6% said their parents paid for all, most or about half of their education; 37.5% said student loans cover all, most or about half of their education; 87.2% said they rely on bank loans; 30.7% reported relying on income or savings; and 16.6% relied on scholarships and bursaries.
Maclean’s found that the average amount students spend on books each year is $773.
The least expensive programs for book purchases per year are computer science at $578, math at $628, music at $675, environmental science at $676, and international relations at $697.
The most expensive programs for book purchases per year are Business at $874, Criminology at $843, Psychology at $827, Art at $811, and Chemistry at $806.
The average level of debt for each year of study is $9,217 in the first year, $14,052 in the second year, $19,033 in the third year, $23,396 in the fourth year and $28,858 in the fifth year or more .