Canadian here. Our universities and colleges are mostly public and heavily subsidized so costs are somewhat lower. On average it cost about $15K/year for each of my two daughters (one got a BSc, the other a BA and B.Ed.) to attend a mid-sized university out of town (tuition, books, rent, groceries, utilities, etc.). My wife and I took this into consideration when they were born and we decided that part of having children was paying for their university education (the only thing we insisted they do when they reached that age was get summer jobs to earn some personal spending money). So we built it into our budget and saved aggressively. That meant living in a smaller house, driving used cars, dine out less frequently, taking more modest and fewer vacations, and, well, living within our means. Many of their peers graduated with large student loans while our kids are now debt-free. We thought we took the right approach. Or were we the fools?