University costs rise three-fold over 20 years

A report from the left-leaning Canadian Centre for Policy Alternatives forecasts that the inflation-adjusted cost of an undergraduate degree is expected to climb an average of 8.6% over the next four years, extending a trend that has seen the price tag triple over the past two decades, reports The Canadian Press.

The inflation-adjusted cost of tuition and other compulsory fees averaged CA$2,243 (US$2,170) across the country in 1990, the report showed. That figure had climbed to $6,254 for the 2012-13 academic year and is projected to keep rising, the centre said, adding that the study focused solely on mandatory costs and did not factor in other financial demands such as books, food and accommodation. The basic cost of an undergraduate degree in 2016-17 is projected to average $6,842, or slightly more than three times 1990 levels, the report said.

Study co-author Erika Shaker said the numbers sound alarm bells for Canada's future economic prosperity. Full report on The Vancouver Sun site