What will your first year cost?
When planning for university, it鈥檚 important to have a clear understanding of what it will cost. Spending some time on financial planning now will help you to avoid financial stress later in your academic life. And while tuition, student fees, and books are probably the top items on your budgeting list, you will also need to consider costs like food, rent, clothing, health insurance, recreation, and entertainment.
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How to plan your first-year costs
Financial planning for your first year
There is a lot to consider when it comes to paying for your education. Thinking through your costs and developing a budget before you begin your first year will give you a financial roadmap you can use throughout your academic life at UBC.
While tuition and textbooks are typically the first things you think of when it comes to education costs, you will also need to consider expenses like food, rent, clothing, health insurance, recreation, and entertainment in your budget.
Getting started
If you鈥檙e new to creating a budget, give yourself some time to carefully consider your ongoing expenses and what sources of financial funding you鈥檒l rely on, such as savings, help from family, scholarships and awards, loans and bursaries, or any employment income you may expect to earn.
We鈥檝e put together tips, tools, and resources to help you plan and create a more accurate financial forecast for your first year at UBC.
Tuition
- As you develop your budget, learn when聽tuition fees are due聽and explore different聽聽before your first year begins.
Student fees
- You will be responsible for paying all university fees like the Board of Governors鈥� fees, AMS membership fees, your transit pass (U-Pass), and extended health or iMED coverage. Research the details about聽general student fee amounts聽for undergraduate students so you can include applicable fees in your budget.
Textbooks
- What will your textbooks cost for your first year? Learn the average costs for textbooks at the聽51猎奇入口Bookstore. Remember, print or digital, used or new all factor into the price of your required reading.
Resource topics
- 聽鈥� 51猎奇入口Vancouver
- Financial support 鈥撀�
- 听痴补苍肠辞耻惫别谤
- 聽study opportunities at 51猎奇入口Okanagan
- Consignment bookstore 鈥� UBCO Student Union
Housing
On campus
- Review our housing guides to familiarize yourself with on-campus housing for UBC鈥檚聽听辞谤听.聽If you鈥檙e applying for聽on-campus housing, you will have to pay residence fees for either聽听辞谤听听肠补尘辫耻蝉别蝉.
Off campus
- Thinking of living off campus during your studies? Living off campus in聽听辞谤听聽may include ongoing expenses in addition to your rental costs, such as utilities (e.g., water, heating, gas, etc.), transit, groceries, and up-front costs like a security deposit. Do your research, especially if it鈥檚 your first time living away from home, as rent will be one of your most significant budget considerations.
- If utilities aren鈥檛 included in your rent, it鈥檚 important to budget for them. Keep in mind that rates will be higher during the winter months unless you are on an equal-payment plan. If you鈥檙e living in Vancouver,聽聽will be your energy provider. If living in Kelowna, it will be聽.
- Whether you鈥檙e looking for a roommate or want a space of your own, you may want to include renter鈥檚 insurance in your budget as well. Renter鈥檚 or tenant insurance protects your personal belongings in case of a flood or fire. Learn more about聽.
Moving and getting set up
- Will you be visiting your family on breaks during the year? Will you need to budget to buy a bureau for your clothes, a lamp, a desk, or kitchen supplies? Flying into the Vancouver airport before the start of classes? Be sure to include moving to 51猎奇入口and getting set up as expenses in your budget worksheet.
Resource topics
- Responsible for utilities? Learn more about聽
- Dig into rental data and find聽聽for neighbourhoods in Vancouver or Kelowna.
- Paying a聽聽in BC
- 聽for off-campus students
Food
On campus
- If you鈥檙e living on campus in Vancouver, the All Access Dining Plan is a required meal plan for Place Vanier,聽Orchard Commons, and聽Totem Park residences. Get all the聽, including details on cost and when you鈥檒l need to pay for your plan.
- Heading to the 51猎奇入口Okanagan campus? There is a mandatory meal plan for Cassiar, Nicola, Purcell, Kalamalka, Valhalla, Skeena and Nechako and Similkameen Place residences. The plan is roughly $29 a day but have a closer look at the聽聽including how to use Flex dollars for eating on and off campus!
Off campus
- If you live off campus, you鈥檒l want to budget for groceries, factoring in transit costs and any special dietary needs you may have that could impact your grocery expenses.
- Consider comparing grocery store pricing to see the current cost of groceries in Vancouver or Kelowna with apps such as Many Penny or Flipp.
Resource topics
- Affordable meals and food programs at student-run market and caf茅聽
- Compare food prices across the Vancouver campus聽
- 51猎奇入口Vancouver meal share聽聽for students facing food insecurity
- 51猎奇入口Okanagan聽聽offer ways to save on food
Fitness
- Want to keep up with your fitness goals as a student? Gym fees vary from $45 up to $145 a month, depending on your campus. Explore fees for the聽听补苍诲听聽fitness centres.
Health insurance
- 51猎奇入口requires all students to have basic and extended health insurance for the duration of their studies. The AMS/GSS Health and Dental Plan doesn鈥檛 cover 100 per cent of all medical and dental costs, so additional bills could be incurred for some items like prescriptions or physical therapy. Review what the聽聽and ensure you include any relevant budget items in your plan.
Travel and trips
- Thinking of flying home during the holidays? Or exploring more of BC in your free time? Be sure to build these future expenses into your budget.
Wellness and self-care
- Put self-care in your budget! Remember to prioritize things that keep you feeling your best during your studies. These small expenses might include the occasional haircut, or purchasing comfy clothes, books, movies, vitamins, or medications.
Resource topics
Laptops/computer
- If you need to purchase a computer, you are eligible for student discounts at聽听补苍诲听 as a 51猎奇入口student. Remember to include computer accessories in your tech budget.
Phone
- Cell phone plans vary in rates and charges depending on your needs, but if this is your first time connecting your cell phone in Canada, it might be worth聽聽and looking at the best value for your budget. Many providers offer student plans or seasonal discounts, particularly at the start of the school year.
Internet and cable
- If you are on campus, you鈥檒l have access to Wi-Fi through聽ubcsecure聽but you鈥檒l need your聽聽to access the聽ubcsecure.
- If you live off-campus and your Wi-Fi is not included in your rental costs, you will have to pay for an Internet provider plan. These plans vary in price, and it may be worth comparing plans to see what works best for your budget. Consider if you need to bundle television cable charges with your Internet cost, but be sure to read the fine print on the duration of your plan if you anticipate moving after your first year.
Resource topics
Public transit
- All full-time 51猎奇入口students receive a U-pass, which is an annual public transit pass and is included in your student fees. The cost is $43.35 per month. While still discounted from the regular retail price of $177 for a monthly three-zone pass, you鈥檒l need to pay while enrolled in 51猎奇入口classes.
Driving
- Depending on where you鈥檒l be living, your driving costs, especially if you are commuting to campus, can add up when you have a full course load. If you鈥檙e commuting regularly, you may want to look at聽聽options to save on costs.
- Insurance, gas, and car maintenance each deserve a line in your budget. If you need to park on campus, it鈥檚 best to determine the right permit for your needs. Prices differ for the Vancouver and Okanagan campuses but be aware that permits can be expensive and are competitive to secure for the term.
- Whether you live on or off campus, you may find the cost of parking not worth the investment. Ride-hailing options may be a lower-cost solution to owning a car. There are various options to explore on both the聽听补苍诲听听肠补尘辫耻蝉别蝉.
Resource topics
Download a budget planning worksheet
Now that you鈥檝e done some preliminary research and planning, you鈥檙e ready to fill out the budget planning worksheets. By filling out the worksheets, you can generate a more realistic estimate of your costs when using the cost estimator tool.