Canada is a coveted destination for students aspiring to pursue higher education abroad. Not only is it home to some of the best universities in the world but also the tuition fee is more affordable when compared to other countries like the US or UK. Besides, Canada ranks number one in the world when it comes to quality of life.
Here we’ll help you draw up a budget to fulfil your dream of studying in Canada.
Canada College Fees
According to the Council of Ministers of Education, Canada (CMEC) tuition can range from CAD 1,800 per year to approximately CAD 20,000 per year for an undergraduate degree; CAD 2,500 per year to approximately CAD 18,000 per year for a Master’s in Canada and approximately CAD 2,500 to CAD 17,000 per year for PhD from Canada. But the cost will vary depending on the city, province, and university that you pick.
CMEC also found that living expenses for one year averaged around CAD 12,000. But this will again change depending on the city and province you live in.
Among the affordable universities in Canada for international students are University of Brandon, Simon Fraser University, University of Guelph, Concordia University, University of Calgary, University of Saskatchewan, University of Alberta, University of Northern British Columbia, University of Winnipeg, Newfoundland and Labrador’s University, etc.
Canada University Fees
Tuition fees will vary of course. For instance, for international students it ranged from CAD 2,000 to 22,000 for 2021-2022 session depending on the subject. Most Canadian university websites include mechanisms to calculate the approximate fees.
Canada student visa fees
To study in Canada you will need a study permit, which will cost you 150 dollars. It is a document which the government issues that allows foreign nationals to study at designated learning institutions (DLIs) in the country.
Minimum Bank Balance
When you apply for a study visa, you will need to provide documents to show that you have enough money to pay for your tuition fees; living expenses and return flight.
According to canada.ca the minimum bank balance for Canada student visa excluding the tuition fee is CAD 10,000 per year.
Guaranteed Investment Certificate (GIC amount for Canada)
A GIC is a Canadian investment that has a guaranteed rate of return for a fixed period of time. As per the Citizen Immigration Canada (CIC), students applying to Canadian colleges are required to invest CAD 10,000 in the form of GIC with Canadian banks.
Canada student visa requirement
- Valid passport
- Attested copies of Class 10, 12 and degree certificates
- Academic references – 2
- Employer references – 2
- Statement of purpose
- Certificates of extracurricular achievements
- An acceptance letter from your education institution
- Proof of payment
- Proof of funds
- Passport size photographs
- Study Permit and visa
- English Proficiency
Now start drawing up a plan. Begin with the course and college/university you want to pursue, find out which province and city it is in. Make a list of all the expenditures, starting with tuition, visa, cost of living, tickets, GIC etc. Then decide whether you need to apply for a scholarship or a bank loan or you could perhaps try some other university, which offers better ways to save money. And Career2Life is always here to help you out if you need. You can always choose to let us help you pick the right college that suits you and also fits your budget.