Education savings provider available to comment on cost of post-secondary
education, benefits of starting to save early
TORONTO, Oct. 18 /CNW/ - Students attending Canadian universities this
year faced a 2.8 per cent increase in tuition fees, according to a Statistics
Canada report released today. Undergraduate students will pay an average of
$4,524 in tuition fees for the 2007/2008 academic year, up from $4,400 the
year before. This compares with a 3.2 per cent increase last year.
During the 1990s, undergraduate tuition fees increased at an average
annual rate of more than 9.6 per cent. Since 2000, provincial government moves
to limit tuition fees have slowed the average annual rate to 3.8 per cent.
"While we are encouraged that the rate of tuition fee growth is slowing,
we know that the costs associated with pursuing a post-secondary education
continue to place a heavy burden on students," says Peter Lewis, Vice
President of Canadian Scholarship Trust Foundation. "Given that tuition fees
continue to increase at a higher rate than inflation, the earlier parents
start saving the better. Not only will saving early set the financial
foundation for a child's education, it also demonstrates to a child that you
are taking steps to help turn post-secondary education into an achievable
Peter Lewis is available to discuss how parents can best prepare for the
cost of their child's post-secondary education.
The Canadian Scholarship Trust Foundation, founded in 1960, is the oldest
and largest provider of RESPs in Canada, with more than $2.3 billion in assets
under administration. Its mission is to promote the benefits of higher
education and improve access by reducing financial barriers.
For further information:
For further information: To arrange an interview please contact: Tonique
Harry, T: (416) 504-8464 ext.249, Tonique@mediaprofile.com