In today’s job market, seven out of ten jobs require post-secondary education; you can only imagine how much more important post-secondary education will become in the future.

The roadblock for many students, however, is how to pay for it all. That’s why it’s so important for parents to understand the costs and develop a savings strategy as early as possible.

Some things to think about:

• A student attending a full-time college or university program today can expect to pay between $2,500 and $8,000 per year in tuition alone.

• Add books, supplies, transportation, miscellaneous expenses and, if the student lives away from home, living expenses.

• The average cost of mandatory supplies and equipments for college and trade schools runs between $50 to $5000.

• Schools are increasing fees for programs that may offer a larger financial payback upon graduation, such as medicine, law, engineering and dentistry.

• Fifteen to twenty years from now, the estimated cost of four years of school away from home may be between $75,000 and $100,000.

As intimidating as these figures may seem, the money you put away today could make the difference to your child’s options tomorrow. Saving as little as $1 a day could mean a contribution of over $17,000 by the time your child starts school. Start your savings strategy today by learning more about the anticipated costs of your child’s post-secondary education.