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Elementary and Secondary Education
About five million children now attend public schools in Canada. In some provinces, children can enter kindergarten at the age of four before starting the elementary grades at age six. The elementary curriculum emphasizes the basic subjects of language, math, social studies, introductory arts and science.
In general, high school programs consist of two streams. The first prepares students for university, the second for post-secondary education at a community college or institute of technology, or for the workplace. There are also special programs for students unable to complete the conventional courses of study.
In most provinces, individual schools now set, conduct and mark their own examinations. In some provinces, however, students must pass a graduation examination in certain key subjects in order to proceed to the post-secondary level. University entrance thus depends on course selection and marks in high school; requirements vary from province to province.
Source: International Trade Canada (2005)
Other Schools
For parents seeking alternatives to the public system, there are separate as well as private schools. Some provinces have legislation that permits the establishment of separate schools by religious groups. Mostly Roman Catholic, separate schools, which in 1995 accounted for about one-fourth of Canada's public school enrolment, offer a complete parochial curriculum from kindergarten through the secondary level in some provinces.
Private or independent schools have a current enrolment of over a quarter of a million students, and offer a great variety of curriculum options based on religion, language or academic status.
Source: International Trade Canada (2005)
Post-Secondary Education
Today in Canada, some 200 technical institutes and community colleges complement about 100 universities, attracting a total post-secondary enrolment of approximately one million students.
Canada's universities are internationally known for the quality of their teaching and research. Examples include the neurological breakthroughs of Wilder Penfield at McGill University and the discovery of insulin at the University of Toronto by Frederick Banting, C.H. Best, J.J.R. Macleod, and J.B. Collip. Full-time enrolment in Canadian universities stands at over half a million, with enrolments at individual institutions ranging from less than a 1,000 to over 35,000. Women are well represented in the universities; they receive more than half of all degrees conferred.
Source: International Trade Canada (2005)
How Important is it?
“Over their lifetime, university graduates earn $1 million more on average than those without a post-secondary education.”
Source: The Association of Universities and Colleges of Canada (2005)
In 1999, 167,000 jobs in Canada disappeared for people with no more than a high school education
- In 1999, 431,000 jobs were created for workers with post-secondary education
Source: Statistics Canada
How Much Will it Cost?
Student fees, owing to substantial government subsidies, account for only about 11 percent of the cost of Canadian post-secondary education.
Source: International Trade Canada (2005)
It is estimated that the full cost of a 4-year undergraduate degree from a Canadian university in 2020 could cost over $100,000.
< chart from RESP Guide p4 >
Brief overviews of two of Canada's most popular post-secondary institutions.
University of Victoria
Victoria, BC - Canada
President: Dr. David Turpin
Full-time students: 9,990
Part-time students 5,726
Minimum entrance grade: 75%
Current Tuition: $16,112*
Est. Tuition (2020): $27,430† |
York University
Toronto, Ont - Canada
President: Lorna R. Marsden
Full-time students:27,007
Part-time students 7,300
Minimum entrance grade: 70%-80%
Current Tuition: $9,060*
Est. Tuition (2020): $15,424†
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University Profile
Consistently ranked as one of Canada's top comprehensive universities, the University of Victoria offers undergraduate degrees in areas ranging from human and social development to engineering and humanities. Its students and faculty have a special reputation for confronting major social, economic, and environmental issues. |
University Profile
The third largest university in Canada, York University offers its undergraduate students more than 100 majors across seven different faculties. York is internationally renowned for its excellent faculty and innovative, interdisciplinary programs. According to York, two years after graduating, 96% of its alumni are employed. |
Options Available to Fund Post-Secondary Education
Borrowing the Money:
- Mortgages
- Loans
- Line of Credit
- Credit Cards
Student Loans:
- Established by the Federal Government.
- Loan re payments begin 6 months after graduation, and can continue for as long as 10 years.
- Interest rates at approximately 4.5%.
- For more information visit http://www.canlearn.ca/nslsc/index.cfm?langnslsc=en.
Registered Education Savings Plans (RESPs):
- A savings vehicle established by the Federal Government to make it easier to save for a child’s education.
- Eligible for various Government Grants such as the Canada Education Savings Grant (CESG), Alberta Centennial Education Savings (ACES) Plan Grant, and Canada Learning Bond (CLB).
- Canada Revenue Agency (CRA) allows a tax shelter on savings of up to $4,000 per calendar year, per eligible child with a $42,000 lifetime maximum. The interest is taxed in the hands of the student who pay little to no tax as they are in a lower tax bracket.
www.HeritageRESP.com
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