Canada is one of the most popular student destinations, surpassing the USA and the UK in terms of affordability. While the USA was the #1 choice for international students in 2018, it dropped to the third position in 2020. Meanwhile, Canada saw increasing popularity, with the percentage of international students seeking to study in Canada after graduation rising from 10.1 to 13.8 from January 2018 to October 2020.

The gradual increase in international student enrolment in Canada owes much to the ease of obtaining a study permit, affordability and multiple opportunities to work in Canada after completing full-time courses. According to the National Statistics Office of Canada, over 621,500 international students held study permits to pursue higher studies in Canada in 2021, compared to 352,330 in 2015.

How Much Do You Have to Spend to Study in Canada?

Students who wish to study abroad must consider several factors when choosing their destination for higher studies. Among them, expenses are undoubtedly the most important one.

Studying abroad is an expensive affair, and with increasing tuition fees and fluctuating exchange rates, students’ top priority is to choose a country where they can get top-class education at affordable prices. Thus, Canada has become the go-to destination for all.

1. Postgraduate course fees

Compared to the USA, postgraduate fees in Canadian universities are significantly lower. For example, the range for tuition fees for some popular Master's degree programs is as follows:

• PG course in Business & Management – approx. CAD 2,100 – CAD 53,000 per year
• PG Engineering courses – approx. CAD 2,100 – CAD 52,500 per year
• PG Medical courses – approx. CAD 3,000 – CAD 60,000 per year

Meanwhile, the average fees in the USA for the following PG courses are:

• Business & Management – approx. USD 56,000 – USD 150,000
• Engineering – approx. USD 40,000 – USD 60,000
• Medicine – approx. USD 60,000 – USD 100,000

The tuition fees in Canada vary depending on the institute and course. Usually, the course fees for arts and humanities are significantly lower than for medical courses. So, if you wish to study in Canada after graduation, it’s best to compare the course fees in different institutes to find the most affordable option.

2. University application and visa fees

While the course fees in Canadian universities are comparatively more affordable than in other countries, you’ll have to spend approximately CAD 50 – CAD 250 for application fees. Merely 5% of Canadian universities do not require application fees from international students, including the following:

• University of Alberta
• University of British Columbia
• Tyndale University
• University of Calgary
• University of Victoria
• Northeastern University Vancouver

In addition to university application fees, you’ll also have to bear the cost of a study permit to study abroad. While the fee is CAD 150 (approx. INR 9,200) for a study permit in Canada, it is around USD 510 (approx. INR 45,900) for an F1 visa in the USA and £363 (approx. INR 37,000) for a student visa for the UK.

3. English language proficiency test fees

One of the prerequisites to studying abroad is to appear for English language proficiency online exams IELTS, TOEFL, PTE Academic, etc. The fees for this remain constant, regardless of the country where you wish to pursue postgraduate courses. Instead, it varies according to the country from where you’ll appear for the exam. For example, for Indian students, the fees are as follows:

• IELTS – INR 15,500
• TOEFL iBT – USD 190 (approx. INR 17,000)
• Duolingo English Test – USD 49 (approx. INR 4,410)

It’s always best to check the list of tests accepted by your shortlisted universities before finalising the one you want to appear for.

4. Living expenses in Canada

Research shows that the average living cost for international students in Canada ranges from CAD 600 to CAD 800 per month (approx. INR 37,000 – INR 49,000), excluding accommodation costs. In the USA, living expenses per month range from USD 1,000 – USD 1,500 (approx. INR 90,000 – INR 1,35,000), while in the UK, it is approximately £700 - £1,500 (approx. INR 70,000 – INR 1,50,000).

Your living costs generally include expenses related to food and groceries, transportation, clothing, utilities, rent, books and stationery, etc. If you manage to secure on-campus accommodation, your yearly charges would be around CAD 3,000 to CAD 8,000 (approx. INR 1,83,000 – INR 4,88,000), depending on the city you choose to live in. However, if you choose shared off-campus accommodations, you can expect to pay around CAD 600 – CAD 900 per month (approx. INR 36,600 – INR 54,900).

5. Other miscellaneous costs

In addition to tuition fees, student visa charges and living costs, you will have to bear miscellaneous costs, such as the following:

• Professionalconsultants

Due to the increased interest in students to study abroad in Canada, the competition to secure a spot in the most reputed institutes has increased significantly. As a result, students hire online SOP writing services to give them an edge over other applicants. Such services are usually pretty expensive.

• Flight charges

Once you’ve finalised everything to begin your study in Canada after graduation, you need to find the cheapest flight option to start your journey. Flight prices can be pretty expensive, ranging between approx. INR 1,00,000 to INR 2,00,000.

• Health insurance fees

All international students intending to study in Canada after graduation must apply for health insurance. While some provinces offer free provincial health insurance to all international students, others charge a premium. Meanwhile, in provinces where such facilities aren’t available, you have to apply for private health insurance. Some of the popular insurance plans include AMS/GSS Health and Dental Plan, iMED, etc.

Final Verdict: Is Canada an Affordable Option for Postgraduate Studies?

Considering all factors, there’s no doubt that Canada is one of the most affordable options to study abroad if you don’t want to compromise the quality of education. While other countries like Norway, Denmark, Switzerland and Spain might be more affordable, the quality of education in Canada rivals that of the USA and the UK. So, it’s not surprising that Canada has become the top destination for students who want the perfect balance between affordability and education quality.