Alberta post-secondary students pay more tuition than national average: report

According to a forecast released by saving and planning company Embark, a four-year university degree in Canada costs an average of $75,387.

Alberta costs slightly more, coming in at $78,034.

Nova Scotia has the highest average cost in the country at $88,490, while Newfoundland and Labrador is the most affordable, costing on average $54,366.

"What's important about us publishing the calculation is that parents can work backward from the amount of money they need to save in order to send their kids to school and figure out what the monthly amount is," said Andrew Lo, Embark president and CEO.

High tuition costs are a big talking point amongst students.

The University of Lethbridge Students’ Union says it’s heard from many students concerned about rising tuition rates.

According to the union, tuition has increased 26.5 per cent over the past four years.

"They're very substantial increases and students are very concerned. It's always an issue," said Rachele Preston, union vice-president external.

"Students are always wondering, well, why the increase is happening. What caused it? How is it working? Am I always going to have to pay more?"

The U of L is one of the most affordable universities in the province.

An average course at the U of L costs $643, which is less than the University of Alberta, University of Calgary, Mount Royal University and MacEwan University.

"Lots of students come to the U of L because it's affordable, especially compared to other institutions in the province," Preston said.

"And ultimately, to keep it affordable, it's a multi-faceted approach. We need to work with the government, the provincial government, we need to work with the federal government, as well as with the institution itself."

Post-secondary education is only projected to get more expensive.

According to Embark, a four-year degree in Alberta will cost upward of $100,000 by 2039.

"While the numbers are super daunting right now, if you start early, you can save that amount. We've heard also a lot of success stories from our subscribers that they're able to save the entire amount for their kids' post-secondary education," Lo said. 

In a statement emailed to CTV News, Alberta's UCP government said it has "taken action to help make post-secondary education more affordable, including a two per cent tuition cap for domestic students at most public institutions starting in the 2024-25 academic year.

"We’ve also reduced interest rates on student loans, extended the interest-free grace period on student loans to 12 months, and increased eligibility for the repayment assistance program."