Find the right balance

You’re saving for your child’s education, plus your own retirement and other priorities like a family vacation or vacation property. Your professional financial advisor can show you how investing in your child’s future fits into your overall financial plan.


How CIBC Imperial Service helps

Helping to pay for post-secondary school can help give your child the advantage of graduating with minimal debt, or even debt-free. Your advisor will help you sort through your options — RESPs, TFSAs, investments, trusts, student loans and grants, joint lines of credit — and create a plan that works for your family.

  • Decide how much you will contribute to your child’s total post-secondary education costs, and how much you expect your child to contribute
  • Identify the best ways to save for education
  • Balance saving for education with your other priorities
  • Take advantage of Government of Canada and provincial grants


Your advisor will help you create an education plan, put it into action, and adjust it when priorities change.


Things to consider

  • School expenses beyond tuition, like books, food and residence
  • Differences in costs between different schools and programs
  • Applying for scholarships, grants, bursaries, student loans
  • What to do with extra cash: pay for education or save for retirement

Post-secondary education checklist

  • How many children are you sending to post-secondary school?
  • How old are they now? At what age do you expect them to start their post-secondary education?
  • How many years do you expect them to attend?
  • Do you expect them to live at home, on campus or elsewhere?
  • How much do you plan to contribute to their education?
  • Will your children work during the school year or during the summer?

Annual costs by degree

The cost of post-secondary education in Canada continues to rise. Some programs charge more than others. 

Here's what Canadian students are paying in average annual tuition for different degrees1. Keep these numbers in mind when saving for your child's future.

Learn more about planning for education

Chart shows the average annual costs of four degree programs in Canada. Humanities 5,165 dollars. Business 6,525 dollars. Engineering 7,151 dollars. Law 10,508 dollars.