Quote:
Originally Posted by troutman
I think it is better for students not to live at home for University (even if studyng in the same city where the parents live).
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Maybe so. But that option is off the table for a lot of families. With two kids, you’re looking at an extra $100k+ to give them a cool growth experience. On top of the $80k or so it takes to put two kids through four years of university living at home.
Our daughter is going to U of A in the fall. We explained to her that the cost of fours years away will exceed what we’ve set aside for her in RESPs by more than $30k (we’ve saved $55k for each of our kids and four years away will run around $90k). She still really wanted to go. So she’s going to graduate with at least $30k in debt. Is a 17 year old able to really understand what that means? I doubt it. But here we are.