Services for Students
Studying in Canada

Money Matters

(all amounts are in Canadian Dollars)

Tuition costs for international students in Canada vary between institutions. They can range between $7,000 - $14,000 per year for an undergraduate degree. Contact the institutions you are interested in applying to for details of their course costs.

Canada often appears at the top of United Nations lists of the highest living standards in the world as a result of its low costs and accessible social support systems. As an international student you can benefit from this. However, as in other countries, living costs in urban areas (Toronto and Vancouver in particular) are much higher than those in the suburbs or in the country. As the cost of living varies greatly between cities, and depending on where the school is located in each city, the best estimates on living expense will come directly from the university or college you are applying to.

As an international student you will need to seek out any financial aid before entering Canada, as to receive authorization to study in Canada you must prove to the Canadian authorities that you can meet their estimates for living expenses. These costs include food, accommodation, transportation, medical insurance, books, clothing and sundries. They estimate that exclusive of tuition, and other student fees, international students should show proof of the following in bank statements, registered funds or other sources: $10,000 for twelve months.

As Quebec requires separate authorization for students applying to study in that province, it too has different living costs. You will have to show proof of $9,600.

Establishing a budget is very important. Once you have one, try to follow it as closely as possible. Do not forget to include allowances for all possible expenses in your budget, such as dental emergencies and for travelling home.

You may be eligible for support from a private trust, a private company, or your home government. Alternatively, some Canadian institutions have scholarships or bursaries available to graduate students, usually in particular areas of study.

This funding is easier to come by once you have established yourself and demonstrated your capabilities at an institution. A larger number of scholarships are available to more senior students. The Canadian Bureau for International Education's Awards for Study in Canada lists awards open to foreign students, most of which are for graduate level studies.

Canadian Bureau for International Education's Awards for Study in Canada
www.cbie.ca/scholarship/index_e.cfm

Canadian Information Centre
www.cicic.ca/indexe.stm

Canadian International Development Agency
www.acdi-cida.gc.ca/index-e.htm

Cashe
www.collegeanswer.com/index.jsp

Community of Science Database
http://fundingopps.cos.com/

FinAid
www.finaid.org

International Education Financial Aid
www.iefa.org/

Student Awards Canada
www.studentawards.com/

The Scholarship Page
ww.scholarship-page.com/

Banking

As an international student, you may be eligible to open an account with a bank in Canada. Each bank will charge different fees for a similar service. You should research which bank best matches the services that you will need.

Things to ask about are: monthly service charges, telephone and computer banking options, transaction charges, and interest paid. You can do some research before you get to Canada to help you choose a bank account. When you arrive in Canada you will then be able to visit the local branch of the bank you have chosen.

To open a bank account, you will most likely need to provide the following information:

  • Your Passport or Birth Certificate
  • A second piece of identification (Study Permit)
  • Some money to deposit

For a list of banks in Canada, click here:
www.quazell.com/bank/bank_can.html

 

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