Have You Started to Save for University?

A recent survey by TD Canada Trust found that a staggering 45% of parents who have children eligible to start post-secondary education this fall have not started to save. A third of the parent surveyed say they'll only be able to cover less than 10 per cent of the cost. Another TD survey suggests that 58% of post-secondary students feel anxious or stressed when they think about how they're going to finance their education.

Remember that tuition has increased 8% in 2 years and according to a 2010 Statistics Canada report, the average student owes over $18,800. TD states the total cost of school for students living away from home at $80,000.

"If tuition fees and other compulsory fees are adjusted for inflation, Ontario students have witnessed a 244 per cent real tuition fee increase between 1990 and 2011," said the report entitled Under Pressure: The impact of rising tuition fees on Ontario families.

Full Newspaper Story Here