Cost & Financial Aid

Here are some typical costs for living in Canada:

Bus Fare One Way (local) $2.00
Local Telephone Call $0.25
Average Restaurant Meal $10.00 - 25.00 per person
Movie $8.50
Letter within Canada $0.46
International Postage (letter) $0.95

Taxes

Some provinces apply a provincial tax levy to goods and services. All provinces must apply the federal Goods & Services Tax (GST) of seven per cent to most purchases. As a visitor, a portion of the GST may be refunded to you upon your departure from Canada. There are restrictions that apply and you must provide original receipts. Contact Revenue Canada or your school for further information.

Note: On an average, an Indian student will need approximately Rs5lakhs per year for studying in Canada, depending upon your tuition fees and location

Types of Assistance

Merit based assistance is awarded in many forms, from tuition waivers, various types of assistantships, to fellowships. The most common are listed here:

  1. Tuition Waiver: This means that the student does not have to pay the tuition fees at the university .A tuition waiver is frequently awarded in conjunction with a scholarship or teaching/research assistantship.
  2. Assistantship: Most students who receive assistance do so in the form of an assistantship, i.e. is usually a cash stipend, sufficient for their living expenses, and/or tuition waiver, in return for which they have to work for a maximum of 20 hours per week which normally consists of teaching or other activities.

Who Should Apply?

Students will have a greater chance of getting financial aid if they:

  1. Show evidence of a high level of academic achievement
  2. Achieve high Standardized Examination scores (GMAT, TOEFL etc.)
  3. Specialize in a field or have a research interest which parallels that of the department and faculty or private funding source (which increases opportunities for research assistantships and grants)
  4. Have outstanding letter of recommendation and an impressive statement of purpose.

Very few international students get any kind of assistantships and most people get it after reaching there. So you have to arrange for funds for the first few semesters, at least till the time you can arrange something there.

Canada