A spokesperson with BMO Financial Group says the average cost for four years of post secondary ecucation in canada is between $50,000-$60,000. Chris Dyer says there's a problem here. Dyer says the problem is many Canadians might not be as prepared as they should be for post secondary education and most Canadians are surprised about the costs.

Dyer says now that the issue has been identified it is time to identify a solution. He says it's a matter of sitting down with a financial professional and talking about the best solutions possible for each individual and each family. Dyer says when it comes to education savings planning, the earlier the start the better.
A recent BMO survey revealed only 21% of parents with children under the age of 18 feel confident they will be able to pay off university costs. Furthermore, 60% of students aged 18 to 24 share similar concerns as their parents, with 28% believing they will struggle to pay off post-secondary costs and 32% expecting to be in debt for years to come.
Dyer says it comes down to planning and smart spending. He says students can save a lot of money by staying away from the fancy coffees and expensive lunches. Dyer also encourages parents and grandparents to put money into a child's savings account rather than giving them money for each special occasion.