Education Needs Analysis OIEF

Step 1 Child/Children(s) information and education details: Enter your child/children's name and date of birth along with their post-secondary education details. If you are entering information for two children or less, just leave the other fields blank and they will not be included in the results.

Child's name

Year of birth

Age your child(ren) will start their post- secondary education

Years of study

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Province of study

Current yearly tuition costs ($)

(in today's dollars)

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Average tuition fees for Canadian full-time students
	Average university undergraduate costs for 2007/2008 ($) *	Average college degree costs for 2007/2008 ($) **
Canada	4,524	College degree costs are typically lower than university programs. On average fees for college tuition are approximetaly $1900 a year but may vary widely depending on the college and or program chosen.
Newfoundland and Labrador	2,633
Prince Edward Island	4,440
Nova Scotia	5,878
New Brunswick	5,733
Quebec	2,025
Ontario	5,381
Manitoba	3,384
Saskatchewan	4,774
Alberta	4,964
British Columbia	4,855

*Source: Statistics Canada, Average undergraduate tuition fees for Canadian full-time students, http://www.statcan.ca/Daily/English/071018/d071018b.htm, Oct 22, 2007.

Statistics Canada information is used with the permission of Statistics Canada. Users are forbidden to copy the data and redisseminate them, in an original or modified form, for commercial purposes, without permission from Statistics Canada. Information on the availability of the wide range of data from Statistics Canada can be obtained from Statistics Canada's Regional Offices, its World Wide Web site at www.statcan.ca, and its toll-free access number 1-800-263-1136.

**Source: Ministry of Training, Colleges and Universities,

http://www.edu.gov.on.ca/eng/general/postsec/costs.html, Oct 22, 2007.

Live at Home or Away at school?

Current yearly room & board costs ($)

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How much do you think post-secondary education costs will go up each year?

(This is the rate or percentage that you think education costs will rise each year due to inflation and tuition increases. The calculator will use 4.4% unless you change this number.)

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Average undergraduate tuition fees for Canadian full-time students
	2006/2007	2007/2008	2006/2007 to 2007/2008
	Current $		% change
Canada	4,400	4,524	2.8
Newfoundland and Labrador	2,633	2,633	0.0
Prince Edward Island	4,920	4,440	-9.8
Nova Scotia	6,422	5,878	-8.5
New Brunswick	5,470	5,733	4.8
Quebec	1,932	2,025	4.8
Ontario	5,155	5,381	4.4
Manitoba	3,319	3,384	2.0
Saskatchewan	4,774	4,774	0.0
Alberta	4,763	4,964	4.2
British Columbia	4,740	4,855	2.4

Source: Statistics Canada, Average undergraduate tuition fees for Canadian full-time students, http://www.statcan.ca/Daily/English/071018/d071018b.htm, Oct 22, 2007.

Step 2 Tell us about your savings plan: This is where you enter information about how much you plan to save.

Family Income after taxes:

(this information is needed to calculate your govemment grant)

What year will you start saving?

Total amount you have saved so far for child/children's education in an RESP

How much do you think your savings will grow each year?

(This is the rate or percentage you expect to make investing each year, before inflation and any taxes. This calculator is set to use 5% unless you change this number.)

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Include Canadian Education Savings Grant Contributions (Maximum of $500 per year/ $7,200 per child)

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Number of years of post secondary studies:
Province of Study
Current Yearly Tuition Costs (in today's dollars)	$
Do you anticipate that your child will live at home or away from home?
Current Yearly Room & Board Costs	$

Step 3 Results: Press the 'Calculate' button below to show how much you will need to save each year for your child/children's education. To print results click the 'Print Results' button.