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’re new to creating a budget, give yourself some time to carefully consider your ongoing expenses and what sources of financial funding you’ll rely on, such as savings, help from family, scholarships and awards, loans and bursaries, or any employment income you may expect to earn.
We’ve put together tips, tools, and resources to help you plan and create a more accurate financial forecast for your first year at UBC.
Educational costs
Our cost estimator can calculate your program’s tuition, but student fees, course supplies, and textbooks should also be considered when estimating your total educational costs.
Tuition
- As you develop your budget, learn when tuition fees are due and explore different payment options before your first year begins.
Student fees
- You will be responsible for paying all university fees like the Board of Governors’ fees, AMS membership fees, your transit pass (U-Pass), and extended health or iMED coverage. Research the details about general student fee amounts 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 UBC Bookstore. Remember, print or digital, used or new all factor into the price of your required reading.
Resource topics
- Financial support options – UBC Vancouver
- Financial support – UBC Okanagan
- About tuition increases
- UBC Vancouver Co-op
- UBC Okanagan Co-op
- Work learn opportunities at UBC Vancouver
- Work study opportunities at UBC Okanagan
- Consignment bookstore – UBCO Student Union
- UBC Bookstore Textbook Facts
Your living expenses
What kind of living expenses should you include in your budget? What will it cost to live on or off campus? How much is public transit? What will my food cost each term? We know there is a lot to figure out but take your time to gather all the costs for your first year so your budget accurately reflects what your expenses will be.
Consider the following living expenses that you’ll need to include in your budget for your first year of studies.
Housing
On campus
- Review our housing guides to familiarize yourself with on-campus housing for UBC’s Vancouver campus or Okanagan campus If you’re applying for on-campus housing, you will have to pay residence fees for either Vancouver or Okanagan campuses.
Off campus
- Thinking of living off campus during your studies? Living off campus in Vancouver or Kelowna 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’s your first time living away from home, as rent will be one of your most significant budget considerations.
- If utilities aren’t included in your rent, it’s 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’re living in Vancouver, BC Hydro will be your energy provider. If living in Kelowna, it will be FortisBC.
- Whether you’re looking for a roommate or want a space of your own, you may want to include renter’s insurance in your budget as well. Renter’s or tenant insurance protects your personal belongings in case of a flood or fire. Learn more about tenant insurance in BC.
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 UBC and getting set up as expenses in your budget worksheet.
Resource topics
- What should I pack?
- Year-round residence guide
- Student Housing Supplement Grant
- What to know: Renting an apartment or house in Canada
- Responsible for utilities? Learn more about residential energy rates in BC.
- Dig into rental data and find average rents for neighbourhoods in Vancouver or Kelowna.
- Paying a security deposit in BC
- UBC Collegia for off-campus students
Food
On campus
- If you’re living on campus in Vancouver, the All Access Dining Plan is a required meal plan for Place Vanier, Orchard Commons, and Totem Park residences. Get all the facts, including details on cost and when you’ll need to pay for your plan.
- Heading to the UBC 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 details of the plan including how to use Flex dollars for eating on and off campus!
Off campus
- If you live off campus, you’ll 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.
Resources topics
- Affordable meals and food programs at student-run market and café https://www.ubcsprouts.ca/
- Compare food prices across the Vancouver campus https://campusnutrition.ca/
- UBC Vancouver meal share food hub for students facing food insecurity
- UBC Okanagan community market, meals and more offer ways to save on food
Recreation, health and wellness
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 UBC Vancouver and UBC Okanagan fitness centres.
Health insurance
- UBC requires all students to have basic and extended health insurance for the duration of their studies. The AMS/GSS Health and Dental Plan doesn’t 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 plan covers 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
- UBC Card Benefits and Perks
- Air Canada Student Flight Pass
- BC Federation of Students Deals App
- Health and wellbeing for students
Technology
Laptops/computer
- If you need to purchase a computer, you are eligible for student discounts at Apple and Microsoft as a UBC 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 comparing plans 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’ll have access to Wi-Fi through ubcsecure but you’ll need your Campus-Wide Login account to access the 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
- Compare internet and mobile plans https://ised-isde.canada.ca/site/mobile-plans/en/compare-mobile-phone-and-internet-plans.
Transportation
Public transit
- All full-time UBC 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’ll need to pay while enrolled in UBC classes.
Driving
- Depending on where you’ll be living, your driving costs, especially if you are commuting to campus, can add up when you have a full course load. If you’re commuting regularly, you may want to look at carpooling 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’s 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 Vancouver and Okanagan campuses.
Resource topics
Create your first-year budget
Now that you’ve done some preliminary research and planning, you’re ready to fill out the budget planning worksheet to develop your month-by-month budget.
- By filling out the worksheet, you can generate a more realistic estimate of your first-year costs when using the cost estimator tool.
- First-year budget-planning worksheet
- 69 KB PDF
- Download this fillable PDF template
Try the first-year cost estimator
Ready to put together your cost estimate? Using your budget as a guide, input your fixed and variable expenses, and the calculator will automatically generate your program’s tuition costs to give you an estimate for your first year.
Each time you update your figures, you’ll get a new estimate. All fees and costs are current estimates based on a first-year full course load.
First-year cost estimator fees last updated December 2024.