Many Canadian families are failing to plan appropriately for the costs associated with post-secondary education, according to a recent study by student loan administrator D+H Canada.

The survey of 752 Canadian high school and post-secondary students revealed that more than a quarter of students (27%) are not having conversations with their parents at all about how to pay for post-secondary education.

Among those who do have these conversations, many students say it is an eye-opening experience. One in three students surveyed said the conversation revealed a gap between the cost of post-secondary education and the financial support their parents could offer. Only after talking to parents did students realize the need to line up other sources of financing.

“To cover the cost of post-secondary education, many students require financing beyond their savings and parents’ support,” said Ralph DeJong, vice president, head of student lending at D+H Canada. “In order to prepare and line up financing such as student loans, students and parents need to be on the same page about the costs associated with school and the level of parental support that is realistic.”

The survey revealed that many Canadian families are procrastinating on the planning process, with a majority of students reporting that they waited until their last two years of high school to discuss post-secondary costs with their parents.

Fortunately, however, the study indicates that it’s not taboo for Canadian families to talk about money. Four in five students said they don’t have any difficulty talking to their parents about money.

A quarter of those surveyed said that if they could do it again, they would have the conversation earlier; and 36% said they would go in with a more realistic idea of the cost of post-secondary education.

According to Statistics Canada, undergraduate students paid an average of $5,772 in tuition fees in 2013-2014, not including such expenses as books and living costs.

Canadian students usually line up a variety of sources to cover the cost. The top sources of financing include support from parents (43%), students’ own savings (43%), student loans (41%), summer jobs (41%) and scholarships, bursaries or grants (39%).

Many students said the financial support from their parents came with various conditions, such as a requirement to get good grades, a requirement to get a summer job, or a requirement to work part-time during the school year.