Back to school costs on average 705 $ per child

QUÉBEC, Aug. 7, 2013 / CNW Telbec / - As Quebec families prepare to rob stationery and big-box stores in order to make their back-to-school purchases, a recent survey, carried out on behalf of Universitas Fund , reveals that Quebec parents spend on average 705 $ per child, all levels of education combined (from preschool to university), for school effects and registration fees. The survey also reveals that more than half of families (55 %) say they are financially concerned about the post-secondary education of their young people.

Unsurprisingly, the more children advance in their education, the more expenses related to the start of the new school year increase. While 52 % of parents of primary school children claim to spend on average less than 200 $ for the start of the school year, the situation is different for parents of children in vocational studies (DEP), who claim at 30 % to spend between 1,000 $ and 5,000 $ for materials and tuition. In addition, nearly 15 % of parents of children attending university plan to spend more than 5,000 $ this year!

Some families seem to have understood the concept of financial planning for the start of the school year. In fact, according to the survey, parents save an average of 744 $ per child. This amount varies in particular according to the child's level of education: 59 % of parents of primary school children save less than 200 $ compared to parents of secondary children who save between 200 $ and 500 $ (34 %) and between 500 $ and 1000 $ (20 %).

SOURCE Gestion Universitas inc.