I worked 2 part time jobs when I was in school because I had a car; I lived at home, but I’m not getting into that one ;). I still needed my parents help though. In Alberta, you can only qualify for a student loan if you don’t live with your parents or if they make below a certain amount – I think something like $40,000.

I appreciate my parents helping me, but I’ve always known that it wouldn’t be my only degree. So now I’m on my own. I found my perfect program at a different school, in a different country. I’m currently studying in London, England (one of the most expensive cities in the world) and paying international fees. My tuition itself is £19,000 which equates to about $28,500 CAD. Living expenses are estimated at about £12,000 or $18,000 bringing my total to $46,500. Student loans from the federal and provincial government are only covering $19,950… not even enough for my tuition. So a line of credit from the bank (co-signed by my parents) will have to see me through.

It really is a blow to take, especially since I believe I was doing well with my money prior to moving abroad. But the school is amazing and the networking I’m doing is probably even more valuable. My happiness was key in making my decision though. I could have stayed at home and done a degree I wasn’t interested in, but I would have been miserable. It probably would have turned me away from academics altogether. And because I’ll probably do a PhD post-MSc and before I go into medicine (my ultimate goal), this wouldn’t have been a smart idea.

I know this will be a tough financial road for me, but it will be worth it in the end. I regard academia is an investment rather than a consumer debt and every time I see my bank account, I try to remind myself of that. 🙂

I don’t mean to play devil’s advocate here, but I think peer counselling is worthy to contribute to.

My fees at the University of Alberta were similar to what you posted here, about $700 to $800 for things like Student’s Union dues, transcript & registration fees, Athletics (for a gym I’ve never even set foot in). The reason you have to pay is because these services could not be offered unless everyone paid into them.

Programs like dentistry have unique fees because they have unique program requirements — considerable laboratory work with expensive equipment, and insurance when working on patients. Furthermore, since many dentists earn well over six-figures upon graduation, a few extra thousand in fees is a very, very small price to pay proportionally.

University education is not unrealistic on inaccessible to the average Canadian, people are just spoiled. No one wants to take a year or two off before they start school to save up, no one wants to work part time during the year or full time over the summer to pay for school, but everyone wants to go to Cancun for reading week. Students need to realize that they are students, and they can’t afford everything — but they also need to realize that this is very, very temporary. I have a great job now, and my student loans represent less than half of my take home pay. In other words, totally manageable — and it’s a job I couldn’t get without my university education.

Paying university fees for services you don’t use can be looked at as a good real world exercise: upon graduation, you will pay much more in taxes for even more services you don’t use.

They were itemized, but many people don’t really look at the items other than the tuition charge itself.
I’ve always wanted to get my MBA, and I’m sure I will, but it’s so expensive. I would love to find an employer that would pay for it.

Isn’t that sickening! I agree, though, it is worth it. Even if schools are money mongers.

I had 32,000 in OSAP loans to pay for my undergrad, but some scholarships as well. Thankfully, I was able to get a big scholarship to pay for my Masters, but I TA’ed as well. While owing that much money sucked, I am glad I have an education in a field I love and can work in.

Like you, I put myself through school. My parents made too much for me to qualify for a student loan, yet they didn’t give me money for school (which, I’m eternally thankful for as it taught me a A LOT). I worked part-time while I studied, which was difficult, but had to be done so I could get an education.

I’m currently debating on whether I should go to MBA school, but MBA program pricing is RIDICULOUS! And would my income increase enough to make up for the tuition cost…I’m still trying to figure that out.

Great post!