(NC) Congratulations! You worked hard throughout your high school years to earn the grades you needed to get into the college, university or trade school of your dreams. But are you financially ready for life after high school? According to Statistics Canada, 2023/2024 tuition fees for an undergraduate degree averaged $7,076, and the fees only go up every year.

And that’s just for tuition. You’ll also have to factor in the cost of textbooks and other course materials, student fees, school supplies and essential tools like a laptop and a cellphone.

If your parents (or grandparents) opened a Registered Education Savings Plan (RESP) for you, chances are you’ve heard about the Canada Education Savings Grant (CESG). Offered by the government of Canada, the basic CESG is available to any Canadian resident who opens an RESP. The grant matches 20 per cent of the first $2,500 contributed to a child’s RESP each year, up to a lifetime maximum of $7,200 per child. That works out to an extra $500 paid directly into your RESP every year, invested alongside your own savings.

There are other ways to help offset the costs of attending post-secondary school. Many schools offer admission scholarships based on academic, artistic or athletic achievements. You may also qualify for bursaries or other financial aid directly from the school, or from charities and foundations. One example is the CST Foundation which offers awards of up to $7,000 annually to students entering post-secondary education for the first time.

Learn more about your education savings options, awards and bursaries, visit cst.org.