Financial Costs and Assistance in Canada

Though a worthwhile long-term investment, international education can be expensive. Being aware of all living costs and budgeting accurately is critical for ensuring students have the financial means to complete their education.

Tuition Fees

Fees can vary greatly depending on the field of study, as well as by the academic institution.  According to Statistics Canada, the average annual tuition fee for international students for academic year 2024/2025 was $40,114 CAD for undergraduate studies, and $23,233 CAD for graduate studies. Information on tuition fees for particular programs can be found on the ApplyBoard platform. 

Living Expenses

In addition to tuition, students must also account for books, housing, food, and other day-to-day living expenses. Costs are generally more expensive in bigger cities and will also depend on a student’s lifestyle, choice of accommodations, and spending habits. The costs, on average, breakdown as the following:

Utilities

Students who live off-campus may have to pay for some or all utilities. It’s important to communicate with landlords to understand average utility costs, if the costs are separate from the rent, and how often it needs to be paid.

Common utilities include:

• Water
• Heating
• Electricity
• Internet

These bills may go up or down depending on location, lifestyle, local climate, and if students decide to have a roommate. Depending on the city or province, some utilities may have additional charges for service delivery. 

Transportation

It’s good to estimate how much it'll cost getting around the community. Depending on location, transportation options can include train, bus, rideshare car, bike, or taxi.

Academic Supplies

Academic supplies, such as textbooks can be found in an institution's bookstore or through Facebook Marketplace, or Kjiji. Renting textbooks is a great way to save money.

Financial Assistance

International students have a few financial aid options available to them to finance their studies in Canada, including scholarships, bursaries, and loans.

Scholarships

Scholarships are awarded to students with academic excellence through a competitive application process. Students can apply for scholarships at their chosen institutions when they apply for admission. We strongly recommend searching for scholarships early on in the admission process as many scholarships have early application deadlines.

Many post-secondary also grant automatic entrance scholarships to students with high GPAs. Students can check the amounts they may be eligible for by visiting the institution’s website for scholarship, bursaries and financial aid.

Government of Canada and related government agencies also offer numerous scholarships to international students. Additionally, students can also get scholarships from their home country and should do their research ahead of time to ensure they don’t miss any deadlines.

Scholarship information for select institutions can also be found on Assist. 

Grants and Bursaries

Bursaries are offered by post-secondary institutions and are available to students who demonstrate financial need. Students typically need to submit an application with details of their finances to show financial need.

Loans

International students can apply for student loans from financial institutions in Canada in the form of a student line of credit (LOC). Student LOC typically has a lower interest rate than a regular credit card and the credit limit is based on the student’s tuition and level of studies.

Students can apply for a LOC when they are in Canada and enrolled in a full-time postsecondary program.