According to Statistics Canada, in the 2007/2008 school year, average Business Administration undergraduate program fees were $4637. In the 2011/2012 school year, we’re looking at a $1000+ spike to a $5711 average.

The discipline that experienced the largest jump in tuition fees was the dentistry undergrad, with an almost $4,000 spike in the three years between 2008-2011.

I couldn’t find any information for the US, but it is also expensive. I know that it is more dependent on what school you go to there, whereas the school is less important in Canada.

The cost of a college or university education doesn’t only include tuition costs – it also includes textbooks, which are outrageously expensive. They can vary between $80-$260 per class, depending on the subject and content. Most students spend about $500-$600 a semester on textbooks for five courses.

On top of that, the tuition costs don’t even include what colleges charge you for usage of facilities and other extras. Tuition bills are fraught with little administrative fees here and there. In fact, out of a $2750 payment I made to my college this semester for just a few courses, only $2038 of that went toward tuition. I spent $700 on extras that the colleges don’t bat an eye at charging us. These extras, taken right off my bill, include:

Student Bursary Fund
Canadian Federation of Student
Student’s Association Ext. Dental Plan
Student’s Association Advocacy Service
Student’s Association Club & Event Fee
Student Reboot Computer Service
Student Peer Counselling
Student Intramurals Fee
Student Operating Fund
Student Social Justice
Student Volunteer Program
Student Substitute Capital Fee
Student Lobby Fund
Library,Tech &Student Life Fee
Student Extended Health Plan
Student Stu Public’n Fund

Some of these expenses make sense, but some are a little extreme.

Then there are transportation costs. Colleges are typically placed in the most convenient of cities, so there is usually quite a few bus routes that go past them, but even so, public transportation isn’t cheap. Most areas have a public transport pass that starts at $80/month. If you go to school year round and don’t drive, it would still cost $960 for the full year just to ride the bus.

Then there’s all of the extras; school supplies, study group snacks, professional printing of posters and reports, etc. This is individual to each person.

When I look at this, I’m not surprised more people don’t go and get an education. It’s expensive, and unrealistic for many. Our government doesn’t make it easy for people to improve their lives. Loans are an option, but you have to fit a very specific criteria to qualify.

It is true that, after college, earning power will increase and the people who went through it will make more money. It does pay off sometimes and that’s why I’m doing it. But the initial cost is scaring off a lot of people, and many of those people don’t know exactly where their money is going unless they get a scary long tuition bill like mine listed above.

I’m not even listing the interest payment on a government loan, which is completely relevant to the cost of education as well.

Did you get an education? Did you have loans to pay for it? Do you find it worth it? If you didn’t, why not?

The Cost of Education – Hidden Fees and Expenses You Didn’t Think About is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.