This is an article from Sean Cooper, Pension Analyst, RESP administrator and Income Tax Preparer. Even though tuition fees are high and saving for university is more and more difficult, its still quite possible to graduate debt free.
In a nutshell:
1. Consider part-time jobs throughout your degree (with a healthy balance, otherwise your grades will suffer)2. Summer Work (this is probably where you make most money for the next year)
3. Buying Used Textbooks (no brainer)
4. Eliminating Wasteful Spending
5. Bursaries and Scholarships
6. Living with parents, if possible. (Generally speaking, if you went to York U, Ottawa U, McGill U, etc. makes no difference to your future employer. The education program is government regulated and your degree paper will be of equal value no matter where you've studied.)
At the end of the day - its all about discipline. If you can control your spending, you'll be fine.
Read the full article.
I've lived with my parents when I was in school, but my part time job was enough to pay for my bus-pass and lunch. First year was ok, after that I had to quit.
Bursaries are also overlooked by a lot of students - at least when I went to school. Nortel was booming at the time and they were giving out bursaries left and right. I think I got between $500-$1000 for every year I've studied.
Erik Solecki
Student debt: $185,000
Degree: Bachelor's in industrial engineering from Kettering University
Saniquah Robinson
Student debt: $82,000
Degrees: Master's in Health Science from Chatham University; Bachelor's in psychology from Temple University
Shane Dixon
Student debt: $72,800
Degrees: Master's in public health from University of South Carolina; Bachelor's in biology from Clemson University
Michelle Shipley
Student debt: $140,000
Degree: Bachelor's in political science and international development from Tulane University
Here's the article:
http://finance.yahoo.com/college-education/article/113010/degree-not-worth-debt-cnnmoney