Post-Secondary Education Quiz

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We can help you to create an Education Savings Plan! Call 306-922-2577 or email tf.reception@sasktel.net

#1. How have tuition fees increased compared to the inflation rate in recent years?

The answer is C – Tuition fees from 1998 – 2008 saw an average annual increase of 4.1%, compared to an average annual inflation rate of 2.1% over the same time frame.

#2. Assuming the cost of education continues to rise as it has in the past, what could the cost of a four-year university education living away from home be for a child born in 2012?

The answer is D – These numbers are a few years old as it takes a while to collect the data and they are also an average across Canada. But you can see how someone starting school this fall could only be paying $70K for the same program as someone born in 2012 and they’d be paying more than double the cost.

#3. While most parents hope their children will go on to post-secondary education, how many have a specific savings program in place?

The answer is B – 50%

Young people are more likely to pursue a post-secondary education if their parents have set money aside.

#4. What percentage of new jobs in Canada require a post-secondary education?

The answer is C – Two-thirds.

Job opportunities for those without a post-secondary education are dropping, but rising for those with higher education.

#5. How does education level affect earnings over time?

The answer is C – People with post-secondary education are more likely to find a job, keep it and earn substantially more money than people without a post-secondary education. Someone with a college diploma will earn $394,000 more than a high school graduate over 40 years, while those with a university degree will earn $750,000 more.

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