August 5, 2022
By Scape Solutions
Overseas education can be costly; nevertheless, Canada is an international study destination that provides a high-quality education at a cheaper tuition cost than other Western countries.
However, while calculating the projected cost of studying and living in Canada, remember to include additional vital expenditures such as lodging, food, health insurance, and travel in addition to your tuition fees. You can plan your budget accordingly with these factors in play.
Tuition costs are determined by your program and university of choice. You will need to budget between CAD 13,000 and CAD 35,000 each year to cover the institution charge.
Courses in the arts, humanities, education, and so on are usually reasonably priced. However, other courses, such as medicine and engineering, are more expensive.
If you want to pursue a postgraduate degree, tuition fees are usually greater, and the expenses vary depending on your field of study. MBA programs are frequently expensive. These treatments typically cost between CAD 30,000 to $42,000.
|Sl. No.||Level of study||Estimated fees per year|
|1.||Bachelors||CAD 13000 – CAD 20000|
|2.||Masters||CAD 17000 – CAD 25000|
|3.||Ph.D.||CAD 7000 – CAD 15000|
|4.||MBA||CAD 30000 – CAD 40000|
Determine the cost of lodging
Most Canadian institutes allow overseas students to stay on site. You can also prefer to live off-campus and share a residence. The yearly cost of on-campus housing can range from CAD 8,000 to CAD 10,000.
Off-campus living can range from CAD 400 to CAD 700 per month, based on your region and the time of year. It is important to realize that rent rates differ from city to city.
A homestay is a secondary option in which you stay with a Canadian host family. If you choose this form of lodging, you must pay a CAD 200 placement fee as well as a monthly price of CAD 750 – 950 for daily meals and a room.
Make a point of putting money away for grocery shopping, social events, and emergencies. As an international student, you should keep a close check on your expenditures to avoid depleting your cash.
A single student budget of around CAD 15000 takes into account numerous expenses including the cost of living. You must also maintain your budget adaptable by keeping the following expenditures in mind:
- Books and supplies: Purchasing textbooks might be costly. You may keep this component within your budget by acquiring old second-hand books, buying digital copies, or having a library subscription.
- Communication costs: As an Indian student, you will undoubtedly make numerous phone calls and facetime with your friends and family in India. As a result, it is recommended that you budget for phone bills and data charges.
Get your hands on low-cost calling plans and student discounts to remain in touch with your loved ones while staying within your budget. You may pick a phone plan that meets your needs; the average monthly cost is around CAD 20.
- Personal expenditures and dependencies: Your daily expenses will include things like laundry, toiletries, clothes, dining out, and so on. This is entirely dependent on the lifestyle you select for yourself.
If you choose to work while studying in Canada, your earnings will be taxed. Furthermore, if you have a scholarship or an internship, the federal and state governments may tax you.
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