Cost of living in Canada for an International Student

Studying overseas is an aspiration for many and this comes as no surprise owing to the incredible academic, career and personal benefits it offers. Students get a once-in-a-lifetime opportunity to gain experience that goes a long way in their holistic development. From outstanding practical exposure, better job prospects, enhanced decision-making, top-notch education to priceless global networks, the experience is highly rewarding. Even though COVID-19 brought the dreams of many students to a standstill, the inclination toward studying abroad continues.

While there are a number of places to choose from, Canada remains unmatched.

It has become the most popular destination for students seeking world-class education. The country houses some of the most prestigious universities in the world, including the University of Toronto, the University of British Columbia, and McGill University. Read on to learn about the living costs in Canada:

Education: To cover annual tuition fees, students require approximately 13,000 to 20,000 CAD for the undergraduate courses, 17,000 to 25,000 CAD for postgraduate courses and 7,000 to 15,000 CAD for doctoral programs. The expenditure may vary depending on the Institution they wish to study at and the program they decide to pursue. The tuition fees of most popular Bachelor’s programs- Engineering and Medicine, can go up to 22,000 CAD/year. The cost of an MBA program is somewhere between 30,000 and 40,000 CAD. Besides this, students must also consider the cost of purchasing books, study material and other things.

Accommodation: When it comes to housing, students can choose to live on or off campus. The former can be an excellent way to make friends with other students. The latter provides options such as homestays, shared apartments, single apartments, and so on, all of which are close to colleges and universities. The monthly rent can range from 750 to 2,200 CAD.

Transportation: The amount of travel involved has a significant impact on the cost of living in Canada. Depending on where they live, students can take public transportation to campus, which includes buses, ferries and subways. The typical monthly expense could be between 80 and 110 CAD. Also, if a legitimate college ID is shown, students can receive a discount on monthly bus and rail passes.

Sometimes, transportation costs are included in tuition fees, allowing students to utilize the entire city’s transportation system.

Food: Food is an important factor to consider when calculating the cost of living in Canada. The costs will vary greatly depending on whether students live on or off campus. The majority of Canadian colleges and universities provide meals to on-campus residents. If students choose to live off campus, the cost of meals will be determined by their personal preferences. The average monthly food expenditure ranges between 200 and 600 CAD.

Healthcare: For pursuing education in Canada, it is mandatory for students to have a health insurance policy, the cost of which may vary from province to province. The average premium for Health insurance cost in Canada ranges from 600 to 900 CAD per year.

As most Institutions in Canada are public, means they are funded by the government, the cost of living in Canada is relatively low when compared to other countries. This is the reason why affordable living expenses coupled with quality education makes Canada stand out.