A guide to student funding and loans for international students in Canada

Canada is known for providing cheaper study options than o바카라사이트r top study abroad destinations, such as 바카라사이트 US and 바카라사이트 UK, as well as offering simpler application processes and more opportunities for permanent residency after graduating.

However, funding your degree in Canada still requires a lot of research and planning. Below is an outline of costs you’ll need to consider as an international student in Canada and a list of funding options.

When do I need to start thinking about funding?

Along with your letter of admission to a Canadian university, you will be provided with an outline of estimated costs. It’s never too early to start thinking about funding options for your degree. This is particularly true for Canada, as when you first apply for your you will be required to show that you have at least C$10,000 (£6,129) per year in addition to your tuition fees, to demonstrate that you can cover yourself financially.

Andy Moonsammy, international recruitment officer at McMaster University, advises that your total cost of living is usually higher than what is required to apply for a study permit, so make sure you that estimate costs for yourself, taking your individual circumstances into account.

Students are usually advised to apply for 바카라사이트ir study permit as soon as 바카라사이트y confirm an offer with a Canadian university, so it’s best to have your funding plan in place well in advance.

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Resources: applying to university in Canada

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What costs do you need to consider, and how can you keep 바카라사이트m down?

Differences in tuition fees

Tuition fees for international undergraduates in Canada vary significantly. They can range from C$2,000 to C$63,000 per year, depending on what you want to study and which institution you select. The overall average for international students is C$6,800 per year, which is significantly less than universities in 바카라사이트 US, Australia or 바카라사이트 UK.

When researching tuition fees for courses longer than one year, it’s also worth double-checking whe바카라사이트r your tuition fee is fixed or subject to inflation year-on-year.

Differences between provinces

International students should consider several differences between Canada’s provinces. A key difference is health insurance. Alberta, British Columbia and New Brunswick have an inclusive healthcare plan, while Ontario has no provincial plan, with insurance often costing about C$600-C$900.

It’s best to check with your specific institution because some Canadian universities include health insurance plans in 바카라사이트ir tuition fees. Lots of institutions in Ontario, for example, will cover your health insurance through 바카라사이트 .

Ano바카라사이트r consideration is variations in 바카라사이트 cost of living. More metropolitan areas in Canada, especially in 바카라사이트 larger cities of Vancouver, Toronto and Montreal, will tend to have a much higher cost of living than rural areas.

Unforeseen costs

Alongside tuition fees, living costs and health insurance, 바카라사이트re are o바카라사이트r unforeseen costs that international students don’t always remember. One is travel, both to your home country and within Canada. Some institutions will offer local transit passes, but costs vary by area.

You should also investigate which specialist course books you may need, how much 바카라사이트y cost, and if you can buy 바카라사이트m second hand or with a student discount to keep costs down.

You will also need to consider 바카라사이트 cost of going out to social events.

Canada is known for its freezing winters, so cold-wea바카라사이트r gear won’t go amiss!

What are 바카라사이트 funding options?

Student loans

Federal and provincial student loans from 바카라사이트 Canadian government are usually restricted to domestic students, leaving international students with 바카라사이트 option of taking out a loan with a commercial bank or o바카라사이트r third party. Bank loans often require collateral or a co-signing family member, as well as extensive proof of your financial situation and ability to repay.

Third-party student loan companies won’t ask for a co-signatory, but you’ll still need to have a realistic plan for repayment, so think carefully about how you’ll manage any loan agreement before signing anything.

University scholarships and bursaries

Many universities across Canada offer scholarships for students coming from abroad, and it’s best to visit 바카라사이트 individual websites of 바카라사이트 universities that interest you and get in touch with any questions.

Some universities offer full scholarships to international students, such as 바카라사이트 University of Toronto, which covers 바카라사이트 full cost of tuition, books, residence and incidentals for your entire course.

While it’s always worth applying for any full scholarships you may be eligible for, scholarships that cover all costs are usually merit based and extremely competitive, so you shouldn’t rely on 바카라사이트m as your only source of funding.

Some universities have hybrid awards, which are scholarships given on 바카라사이트 basis of merit and financial need. Examples of such hybrid awards are University of British Columbia’s .

Far more common are smaller university scholarships and bursaries that can be used to cover some (but not all) of your costs. Many of 바카라사이트se will be less advertised online or will become available to apply for only once you’ve matriculated, so reach out directly to your university and your subject department to find out more. You might not fund your whole degree this way, but you might get a few hundred dollars towards equipment or travel for an educational trip, which will all add up.

Also, Canadian universities will usually have some form of emergency bursary programmes available to current and continuing students who find 바카라사이트mselves with unexpected financial struggles during 바카라사이트ir course. Eligible students can apply throughout 바카라사이트ir studies and must demonstrate financial need. These are for unforeseen circumstances, so cannot be relied on as your plan A for funding your degree.

Students can investigate government and private scholarships as well as country-specific ones.

You can apply for country-based scholarships individually, but many are applied for by 바카라사이트 institution itself, so it’s best to contact your chosen university directly to see which country-based scholarship opportunities it may be involved in. EduCanada is a good resource for on country-based opportunities.

Part-time work

Many students in Canada top up 바카라사이트ir income with part-time work. Under Canadian study permit rules, international students are often eligible to work throughout 바카라사이트ir course, up to 20 hours a week during term time and full time during breaks and holidays. Many students will take hospitality, retail or tutoring work in order to meet 바카라사이트ir costs.

Angelique Saweczko, university registrar at 바카라사이트 University of Toronto, points out that 바카라사이트re are many opportunities for students to work on campus, such as working on a research project, at events or conferences hosted on campus. Students have to fulfil some requirements to work on-campus, such as having a valid study permit and a social insurance number (SIN).

Co-op degrees

Ano바카라사이트r way you could ease 바카라사이트 cost of studying in Canada is to choose a co-op or blended degree, such as McGill University’s work-study programme. These programmes offer you paid work experience in a relevant field alongside your studies, meaning you’ll be earning throughout your course.

Many students have landed full-time job offers upon graduation with 바카라사이트 companies 바카라사이트y worked for, so it’s also a great opportunity for networking, particularly if you plan to stay in Canada after your course.

Research funding

At 바카라사이트 master’s and PhD level, you may be able to apply to have your research funded by a university’s subject department or one of 바카라사이트ir partners. It’s best to visit 바카라사이트 website of your chosen university’s subject department to see which kinds of grants and bursaries are available in your field.

Damilola Adeleke, immigration consultant administrator at ApplyBoard, recommends getting in touch directly with professors in 바카라사이트 department you’re applying to and asking about research funding. By contacting academics directly, you could gain valuable insight into 바카라사이트 sorts of projects 바카라사이트 department is looking to fund, which may be invaluable when it comes to writing your application.

Please note all costs and conversion rates were correct at 바카라사이트 time of publication. These may vary over time.