College Cost Calculator
Estimate the total cost of post-secondary education in Canada including tuition, living expenses, and other costs. Data is sourced from Statistics Canada.
Total Cost (Today's Dollars)
$0
Future Value (2029 Dollars)
$0
Present Value
$0
Years Until College
4 (2029)
Education Parameters
Used to calculate inflation-adjusted costs (2.2% annual inflation rate)
You might also be interested in...
Related calculators that complement your financial planning
RESP Contribution Optimizer
Maximize CESG & Provincial Grants
Maximize RESP grants with optimal contribution strategies. Calculate CESG, BCTESG, and QESI benefits with year-by-year projections for Canadian families.
Car Cost Calculator
True Cost of Vehicle Ownership
New vs used car cost calculator. Compare total ownership costs including depreciation, financing, insurance, and investment opportunity for Canadians.
TFSA Limit Estimator
Future Contribution Limit Calculator
Estimate future TFSA contribution limits using the official CRA formula. See 5-year projections indexed to CPI and rounded to nearest $500.
About This Calculator
The Canadian College Cost Calculator helps families plan and save for their children's post-secondary education using Registered Education Savings Plans (RESPs) and other savings vehicles. The cost of university and college education in Canada continues to rise, with the average four-year undergraduate degree now costing $80,000-$120,000 when including tuition, books, residence, and living expenses. This calculator models the total cost of post-secondary education based on your province, program type (arts, science, engineering, etc.), and whether your child will live at home or in residence. It also calculates how much you need to save monthly to reach your education funding goals, factoring in RESP contribution limits, government grants (Canada Education Savings Grant up to $7,200 lifetime), and investment growth assumptions. The calculator helps you understand the powerful benefits of starting early - thanks to compound growth and government matching grants, families who start contributing to RESPs when their children are young can often save 30-40% less per month than those who wait until high school.
Key Features
- Calculate total college/university costs by province and program type
- Model RESP savings with Canada Education Savings Grant (CESG)
- Show monthly savings required to meet education funding goals
- Account for tuition inflation (typically 3-4% annually)
- Compare living at home vs residence cost scenarios
- Calculate RESP contribution limits and grant maximization strategies
- Model different investment return scenarios for RESP growth
- Show the benefit of starting early with compound growth
When to Use This Calculator
- New parents planning education savings for young children
- Families with teenagers catching up on RESP contributions
- Grandparents looking to contribute to grandchildren's education
- Parents comparing RESP vs TFSA for education savings
- Students and parents budgeting for upcoming college expenses
- Financial advisors demonstrating RESP benefits and grant optimization