The Expenditure Forecast To Study In Canada

June 2022

Overseas education can be an exorbitant proceeding; however, fortunately, Canada is an international study destination that offers a quality education at lower tuition costs than other western countries. Be that as it may, before departing for your Canadian study venture, ensure to consider other important expenses like accommodation, food, health coverage, and travel alongside your tuition fees when calibrating the estimated cost of studying and living in Canada. This helps you plan your budget more effectively.

1. Tuition fee - dominant overhead

Your program and university of application determine your tuition expenditure. To make up for the institution fee, you will need to arrange for nearly CAD 13,000 and CAD 35,000 per annum

Customarily courses in arts, humanities, education, so on and so forth, are a little inexpensive. However, subjects such as medicine and engineering tend to be more on the expensive side.

If you plan on pursuing a postgraduation degree, the tuition fees are ordinarily higher and the costs are subjective to your course of application. MBA programs are often high-priced. The average cost for these programs ranges between CAD 30,000-42,000.

2.Assess accommodation costs

A majority of Canadian institutes offer on-campus stay to international students. You can also choose to stay off-campus wherein you can share an apartment with other Indian students. The cost for on-campus accommodation may vary anywhere from CAD 8,000 to CAD 10,000 annually. And living off-campus can cost you anywhere from CAD 400 to CAD 700 per month, depending upon your location of stay and the time of the year. It is necessary to note that rent tariffs vary from city to city.

A subsidiary alternative is a homestay where you stay with a Canadian host family. Choosing this type of accommodation requires you to pay a placement fee of CAD 200 and a monthly fee of CAD 750 – 950 in consideration of daily meals and a room.

3.Cost of obtaining a student visa and permit

For getting into your dream Canadian university, the first step is to obtain a valid study permit which comes with its own cost, which is, approximately CAD 150.

4.Cost of living

You should make a point to set aside some money for your grocery shopping, social activities, and emergencies. Being an international student, it is in your best interest to keep an eye on your spending so that you don't deplete your funds. Taking into consideration various disbursements and cost of living, a single student budget comes out to be approximately CAD 15000. You should also keep your budget flexible by bearing in mind the following expenses:

i) Books and supplies: Buying textbooks can be a bit expensive. You can take care of this aspect within your budget by opting for used second-hand books, purchasing digital versions, or for that matter, obtaining a library membership.

ii) Communication expenses: As an Indian student, you are bound to make frequent calls and face time with your friends and family back in India. Therefore, it is advised to keep a part of your budget for phone bills and data expenses. Get your hands on cost-effective calling plans and student discounts so that you stay connected with your loved ones within your budget. You can find a phone plan suiting your requirements, the average cost is approximately CAD 20 per month.

iii) Personal expenses and contingencies: Your day-to-day expenses will include laundry, toiletries, clothing, dining out, etc. This in every way depends on the kind of lifestyle you choose for yourself.

5.Contemplate health support and insurance

It is mandatory to get medical insurance before the course commencement in your Canadian institution. International student health insurance is priced between $600 and $900 per year in Canada.

6.Transportation cost

7.Taxes

If you choose to earn while learning, your Canadian earned income will be taxable. Also, if you have a scholarship or assistantship, the federal and state governments may tax these wards.

For further assistance or queries students can contact us, Edwise International, and avail themselves of our wide range of services for students in destinations like Universities in Canada, study in Canada, study in UK, study in USA, study in Ireland, study in Australia, study in New-Zealand, study in Singapore and many other countries.

Also read: 5 Best Study Abroad Programs for Indian Students

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