Studying abroad in Canada is an exciting opportunity for international students to gain a world-class education. However, the tuition and living costs can be a significant financial investment. This article will provide an overview of the average course fees for international students in Canada, along with some tips and options for funding your studies. With proper planning and research, studying in Canada can be made more affordable. The key is finding out the full cost early and exploring all available scholarships, grants, loans and on-campus work options. For international students interested in investment management, there are many top-ranked business schools that offer quality education and research opportunities.
Undergraduate programs cost 20,000 to 30,000 CAD per year for international students
The average annual tuition cost for international undergraduate students in Canada ranges from 20,000 to 30,000 CAD. This depends on the program and school. For example, business and engineering degrees tend to be more expensive. Schools like University of Toronto, McGill, UBC generally charge over 30,000 CAD per year. Smaller universities and colleges are more affordable, from 15,000 to 22,000 CAD on average. In addition to tuition, international students need to budget for living expenses like housing, transportation, textbooks, health insurance. All these ancillary costs can add around 15,000 CAD or more per year.
Graduate degrees are around 16,000 to 35,000 CAD per year
For Masters and PhD programs in Canada, international students need to budget for tuition ranging from 16,000 to 35,000 CAD on average. MBA degrees are on the higher end, with top schools like Rotman, Ivey and Queens charging over 45,000 CAD annually. More course-based professional Masters like Computer Science and Engineering are around 20,000 to 28,000 CAD per year. Research-based Masters and PhD programs have lower tuition, closer to 15,000 to 22,000 CAD. But these intensive research degrees have very high living costs. Overall, graduate students need around 25,000 CAD for living expenses in Canada annually.
Funding options include scholarships, research assistantships, loans and campus work
There are many funding options that international students can utilize to offset the costs of studying in Canada. Almost all schools provide entrance scholarships for strong academics, which can cover 20-30% of tuition. Research-based graduate degrees often fund students through research assistantships. Government student loans are available with a cosigner. Priority is given to Canadian citizens but international students can apply after 1 year of study. Students can work part-time on campus without a work permit. After 6 months of full-time study, off campus work is allowed up to 20 hours during semester and full-time during holidays.
While tuition and living costs for international students in Canada can appear high, there are many great funding options to bridge the gap. With early planning and utilizing scholarships, assistantships, loans and work programs, the investment in a Canadian education can pay off greatly in future career prospects.