Heading off to school? Hidden university costs can go far beyond sky high tuition. Read on for ways to budget for the unexpected.
What’s the real cost of moving out of your parents’ home? RateSupermarket.ca crunched the numbers and found it was $5,397.50! No wonder new grads are choosing to live with their parents for longer, as these steep financial hurdles make it challenging to gain independence.
Why are so many new grads living with their parents? The cost of adulthood – debt, rent, and low wages, – is preventing many from making the move.
A new research study from Canada’s independent personal finance comparison site RateSupermarket.ca paints a bleak picture of the real price of post-secondary education – a total cost of $78,817 for students not living at home. While conventional wisdom indicates a degree or diploma are necessary for future career success, rising costs and compound interest are major hurdles to future financial security for university and college graduates.