Study Abroad
Learn more about study expenses and financial aid, living costs for international students and Canadian scholarships for study abroad students.

Study Expenses & Financial Aid In Canada

A recently conducted survey showed a comparison of study abroad expenses in different countries and it ranked Canada as the top spot for cost effective programs. Countries such as USA, UK, Australia and New Zealand have a higher scale of expenditure. The Canadian Government has learned about this increasing popularity in the educational sector and managed to strike a balance between rising cost levels and the quality of education. Like its neighbouring countries, Canada also provides financial assistance to international students in the form of scholarships and teaching assistantships. This kind of aid has proven to be a great support system to students, which in turn encourages them to seek job opportunities. A student looking out for financial help in Canada must consider the differences in eligibility criteria of various universities. Look through the sections below to get an outline on the study expenses and financial aid in Canada.

Living Costs In Canada For International Students

Study Expenses
If you are an international student then expenses incurred for study in a foreign country will have to be monitored. Study expenses in Canada can be broadly categorized as primary and secondary expenses. Primary expenditure would consist of tuition fee for the educational program. Different provinces in Canada have a varied amount depending on certain factors such as location. Normally, if you are applying for a post-secondary education or a graduate level of studies, then a minimum of $6000 is required. on the other hand, secondary expenses comprise of ancillaries such as medical insurance, books, stationary and other essentials for the study program. Apart from this, you also need to consider housing, transportation, telephonic or internet charges, food and other miscellaneous expenses.

Financial Aid
For some students, financial aid plays an important part in selection of a university. To obtain funding, you have to undertake a careful planning, as financial aid is not easily accessible. The list of funding options available in applying for higher education is mentioned below.

Tuition Wavier: This is when a student does not have to pay for the study program but will have to undertake other expenses until the end of their education. Tuition wavier is a combination of scholarships and assistantships.

Scholarships: Most educational institutions offering scholarship programs to students in Canada are based on their outstanding academic record. Here, a student will only have to bore expenses for facilities such as the library, computer, sports and medical services.

Assistantships: This usually comprises of a certain amount of stipend that is sufficient to cover living expenses or tuition fee. But students have to work for a maximum number of hours set by the university. Generally graduate students are most likely to obtain an assistantship in Canada. Students who plan to opt for this type of financial aid need to be proficient in teaching and it is mandatory for them to take up a test for spoken English to be eligible for a teaching assistantship.

Eligibility for Financial Aid
  • Must have a high level of academic performance.
  • A student must produce good GRE, GMAT and ToFEL results.
  • Students should prove sufficient finances that will cover a major part their costs.
  • They must apply in a field where there is existing education/experience to avail for a teaching assistantship.
  • An applicant must have an excellent letter of recommendation and statement of purpose.
With a growing demand among international students to study in Canada, there have arisen several opportunities for financial aid. once a detailed research of the study expenses is done then students may begin the process of admission.