COST OF STUDYING IN CANADA
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Canada is slowly becoming one of the top educational destinations among English-speaking countries. While the Cost of Study in Canada can seem quite high for some, they are among the lowest in English speaking countries like the USA, UK or Australia. However, the quality of Canadian education is excellent, with students from Canadian Universities performing very well in the international job market.
cost of study
Tuition Fees in Canada for International Students:
Universities in Canada set their own fees. The fees vary depending on the course, and international students are usually charged more than indigenous students. Undergraduate and cost of study in Canada fees are usually higher, while the fees for Post Graduate programs are lower.
Average Cost of University in Canada:
Public universities in Canada:
Public Universities are heavily subsidized by the government, so the fees are lower. The fees at public universities start at around 5000 CAD/year and go up from there.
Private Universities in Canada:
Private colleges tend to have higher fees as compared to public universities. Depending on the course, the fees for Indian students usually hover somewhere between C$20,000 to C$30,000 per year as the cost of study in Canada, including living expenses. The tuition fees can be partially offset by taking a job.
Tuition fees at top-ranked universities:
Usually, the cost of study in Canada at the top-ranked universities is quite high. However, the top universities in Canada are surprisingly affordable. The University of Toronto charges an average tuition fee of 38,000 CAD/year, which is quite high. However, the other top ranked universities don’t even go above 10,000 CAD/year.
The University of British Columbia charges an average tuition fee of 8,500-9,000 CAD/year,
McGill University charges an average tuition fee of 8,000 CAD/year, and the University of Montreal charges an average tuition fee of 10,000 CAD/year.
The Cost of Study in Canada for MS for an international student can be around $16,250 and CAD $28,650 per year depending on the field of study.
Student Loan For Canada:
If you are applying through SDS, you will have to invest in a GIC of 10000 CAD. If you are exhausted of all your options with the funds, International Students Loan in Canada is the way to fund your Cost of study in Canada. Most provincial Loans are limited to Canadian students only. So if you are an international student looking to study in Canada and need an education loan, you might have to look for private providers.
For the timelines to prepare documents and apply for education loans, make sure you have a thorough understanding of deadlines and Intakes in Canada.
Education Loans, along with scholarships are the easiest ways to fund your studies while studying abroad because they are meant for students, the repayment is flexible. The amount is high enough to pay for the fees, but the interest rates are lower. There are also some loans that have repayment options after graduation.
Cost of living in Canada:
Canadian Visa requirements for Indian students state that they should have at least 10,000 CAD in their accounts, over and above the money required for tuition. However, the cost of living varies according to location. Certain parts of Canada are significantly more expensive than others, with Vancouver maintaining its position as the most expensive Canadian city to live in. Quebec, on the other hand, has significantly lower prices.
Accommodation in Canada for International Students:
Accommodation cost would result in the most significant part of the cost of study in Canada. Toronto is one of the most expensive cities in Canada to be in, however, the accommodation part of the cost of Study in Canada will still be affordable than
the neighbouring USA, just like the cost of University in Canada vs USA. The monthly cost of accommodation in Toronto can be anywhere between CAD $1080 to $2900. In smaller cities like Saint John’s, Newfoundland, the cost of accommodation will be around CAD $710. Montreal and some parts of Quebec can have as low accommodation costs as CAD $550.
Other Costs that come with Studying in Canada:
There are also some essentials and maintenance costs that one cannot simply live without. Be it Electricity, water, Garbage, etc. The ever essential mobile and internet charges can be around CAD $50 to $70.
Miscellaneous (Electricity, Water, Heating, etc.): Around CAD $ 150 per Month
Internet: CAD $50 to CAD $70 per month
International Student Health Insurance:
It is mandatory to have health insurance as an international student during your stay in Canada. For Provinces like Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, and Saskatchewan, students can opt for State Health Insurance. Whereas for provinces like Manitoba, Nova Scotia, Ontario, Prince Edward Island or Quebec, the students will have to go for Private Health Insurances. The Cost of International Student Health Insurance would be around CAD $600 to CAD $900.
Canada Student Visa Cost:
The visa cost for international students is CAD $150. For Student Visa for Canada, this is the application fees a student will have to pay
Also, keep in mind that international students have to show the funds of around CAD $10,000 apart from their tuition fees as their funds to prove that they can sustain themselves for one year of stay.
Cost of Study in Canada for Indian Students The Study in Canada cost in rupees is fixed amount in a bank account as far as the student visa is concerned. The requirement, as we have mentioned is CAD 10000, which, at the rate of 53 INR for 1 CAD, converts to 530000. However, with tuition fees and other expenses, students are usually advised to have at least 10,00,000 to 12,00,000 INR. Coming to the Canadian Student Visa Fees in Indian Rupees, the amount is around 8000 INR.