New data from Statistics Canada reveals that nearly 60% of Canadian parents intend to offer free room and board to their children while they pursue post-secondary education. This decision comes in light of the rising cost of living, which poses challenges for many families trying to afford higher education. With the financial burden on students increasing, parents are stepping up to support their children as they enter this critical phase of life.

The 2025 Survey of Approaches to Educational Planning indicates that a significant majority, approximately 71% of parents with children under 18, are actively saving for higher education through various savings methods. This figure has seen a modest rise from the 2020 findings, which revealed that 69% of parents were taking similar measures. The ongoing financial strain is encouraging parents to be more proactive in their educational planning and budgeting efforts.

Sumaiya Bhula, a senior manager, emphasizes the importance of this shift in parental attitudes, noting that it serves as an eye-opener for families on the necessity of budgeting and the types of conversations they need to have about future educational expenses. As the landscape of post-secondary education evolves, the support from parents is crucial in helping students navigate the financial challenges they face today.