This study was conducted to better understand the relative affordability of public university education in Canada and the United States. The report was written to answer two key questions: (1) How does access to university education in Canada compare to access in the US? and (2) How affordable is the Canadian university system compared to the American system? Data confirm that, although Canada and the US have similar high school graduation rates and post-secondary participation rates, the US sends a greater percentage of students to university-level education than does Canada. Tuition, fees, and the total cost of attendance are lower in Canada; however, American university students receive 30 percent more grant aid as Canadian students and they have access to significantly more loan aid. The report offers three main recommendations for governmental and non-governmental policy analysts and researchers to consider: (1) Policies of aid and cost at Canadian universities; (2) Increased data and research capacity; and (3) Educational quality. The report concludes that steps must be taken to make university education more affordable for all students and families, especially those who are historically underserved at that level. The following are appended: (1) Data Tables; (2) Major Program Descriptions; (3) Data Sources; and (4) Treatment of Fiscal Data. (Contains 19 footnotes and 33 figures.) [Abstract modified to meet ERIC guidelines. This report was produced by the Educational Policy Institute (EPI) and was supported by the Canada Millennium Scholarship Foundation.]