I spent all of my time at the UofA in different residences. Here is what I think it boils down to for you...
Buying has its perks because you're investing in an asset. There's something tangible at the end and if you're near the university there will always be a market.
The value of residence is not the economics (even if it works our cheaper per month). The value is the social networking aspect of it. And I don't just mean the partying. You tend to meet a number of people and develop a friend/support network. This also includes foreign students and those from all over Canada, who bring different perspectives and experiences. Depending upon the residence, some also offer other amenities like gyms, study rooms and (at least when I was there) tutoring. Some have meals provided and others you cook yourself. They are also very convenient being right on campus. A large part of the university education is learning to live by yourself away from home as well as meeting people and doing different things. Residence is the best place for this, but it's not for everyone. Likewise, the type of residence should be looked at too. If this is the UofA there are several very different types available, so don't just look at it as a lump sum. One may be very suitable for your daughter and another not. Residence will also offer additional chances to get involved in different things/groups although there is plenty of opportunity for that outside of them too.
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