Ultimate guide: Financing your education

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Desana

Written by Desana (she/her), student

Picture this: you’re sitting at your computer and you hear that familiar "bing" that signals a new email. You check your inbox and see that it’s an email from the university you’ve been dreaming of. And there it is in big, bold letters. You’re in!

You’re over the moon, as you should be. However, as you scroll down, you notice the tuition fees, the living expenses, and a bunch of other words and numbers with dollar signs you might not understand. As quickly as you were excited, your heart drops.

How will you afford this?

Student holding a credit card

Unfortunately, many high school students stress because they don’t know how they’ll afford their education. It’s true that the cost of university can be overwhelming. However, it shouldn’t stop you from getting the degree you’ve always wanted. With the right financial plan and resources, higher education is always within reach.

A hand typing on a keyboard with a credit card being held on the other hand.
A hand putting a coin in a gold piggy bank.
Two students working at a desk together
A group of students walking down a hallway with floor-to-ceiling windows on either side of them.

Another great way to finance your education is by choosing a co-op program. On average, students can earn between $9,600 and $22,800 per four-month work term in Canada, which can really make a dent in all those fees! Plus, you’ll gain amazing hands-on experience in a number of interesting fields. Learn more about Waterloo’s unique co-op program and discover how you can earn while you learn. 

For most students, the first year of university is the toughest. You have to navigate through your classes, learn how to live on your own, and figure out how to budget your finances. Sounds exhausting, right? Well, it doesn’t have to be!

A person holding a cup of coffee with a job search bar on their laptop.
See? We got this! Now that you have your university expenses covered, sit back and relax.

Looking to make some extra pocket money? We have tips on creative ways to save and earn money. Also, if you’re planning on coming to the University of Waterloo (which I highly recommend you do), you’ll want to explore the city without breaking the bank. Since the city of Waterloo has a large student population, there’s always things to do on a budget, or even better — for free!
A close up on a person's rain boots with a dog on each side of them.
Four students having a conversation outside.
That’s everything! University is meant to be fun, enjoyable, and full of new experiences — your finances shouldn’t get in the way of that.

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