Show some love, Share this with everyone
The cost of education in Canada varies depending on where the student is from. International students pay almost double or triple the amount Canadian students pay as tuition. The fees you pay will also be influenced by the school intended and the course you select.
Our analysis indicates that by studying at a public university, one can expect to pay approximately half as much in annual tuition fees as the private student will pay at the top-ranked institution. Thus, for someone planning to pursue a Ph.D. in engineering, medicine, law, or any other similar research-oriented graduate program, there is considerable value in considering studying at a public university.
However, we caution that if the main reason for pursuing a Ph.D. is career development or simply prestige, then choosing a private university will not result in significant cost savings. In fact, it may increase costs due to higher salaries and benefits. On the other hand, students planning to major in arts and humanities should consider going to a private university since there is less competition for space and instructors at public universities.
Our study finds that this choice does not result in substantial savings either. Furthermore, even if cost savings were obtained by studying at a private university, there are several important factors that limit their ability to offset tuition fees. This conclusion suggests that most students who do not attend graduate school should choose a public university.
In addition, our analysis suggests that one should choose a public university based on personal characteristics (e.g., nationality) rather than solely on financial concerns.
Public Universities vs Private Universities in Canada
These findings suggest that our decision of whether to attend graduate school should be driven by both academic and non-academic factors.
Public universities are characterized by strong faculty diversity, solid quality assurance systems, affordable education, broad access to post-graduate training, and rich learning environments.
In contrast, private universities tend to offer a larger number of bachelor’s degrees in various disciplines and quality control standards vary across institutions.
There are certain specialties where only private universities offer these services (e.g., bioengineering). Furthermore, these programs often charge high tuition fees (in the tens of thousands of dollars) which would reduce potential financial gains if attending a private university.
Based on these considerations, we encourage all prospective graduate students to apply to public universities since they provide greater benefits for those who have been rejected by elite private universities.
How Would it cost for an international student to study in Canada?
Students may face many difficulties when deciding whether to study in Canada or any other country.
It can be quite difficult to plan your finances if you don’t know how much your study will cost. So here is the step by step process to know in detail how much your education costs:
- To learn more about Canadian Universities visit www.internationaleducation.ca
- We also recommend www.canada.ca/university/tuition.html which gives you detailed information on what the costs of different Canadian Universities are.
- Tuition fees are calculated per credit hour (36 credits = 1 year), but many schools have lower rates for courses with smaller enrollment numbers.
- Different Canadian universities have different fee structures and can vary greatly from each other. Financial aid packages can help offset some of the costs.
Canada is considered one of the most competitive countries for studying abroad as well as having one of the best returns on investment of all countries studied abroad.
What Do You Pay For During Your Studies in Canada?
When you create a budget you should consider all things which should include:
Accommodation: if you will reside inside the campus, the cost for accommodation may be a lot cheaper than what is obtainable outside of campus.
For housing inside the campus, there are furnished apartments available at an affordable price and students get access to gyms, recreational facilities, etc.
Transportation costs are included in your overall budget. Usually, public transportation within a city is cheap compared to that in a suburb or city outskirts. Canadian public transportation system offers some great options such as light rail transit (LRT) or bus lines that cover most major cities and neighborhoods.
If you live outside the campus there are buses and other forms of public transportation to travel around town and connect to public transportation outside of town.
Scholarships: As part of your funding package, scholarships may be available from various government agencies or educational organizations, so check them out before applying. You may be eligible for bursaries if you have special circumstances such as disadvantaged background, disability, being an athlete, etc.
Also, some universities offer grants or loans that can help cover your tuition costs. There are government financial aid programs available as well as bank loans that are accessible through credit unions and banks.
Additional fees for study abroad include passport application fees, international student health insurance fees, passport copies, and exchange rates. When creating your budget remember to add these expenses as well.
Most students rent their homes but some opt for host families who provide meals and sometimes room and board. Housing is very expensive in big cities like Toronto and Vancouver so keep this in mind when making your budget.
Student-oriented websites like educationadvice.com have extensive guides on accommodation options for each province in Canada.
The cost of living depends on where you live in Canada. However, average monthly expenses range from about $ 2,500-$3,500 per month for housing and meals, plus books and travel expenses.
Accommodation prices vary according to location, type of accommodation, size of the apartment, city amenities, neighborhood safety, how close you are to public transportation, whether you will be staying with a family or a private landlord.
Tuition costs vary widely depending on which province you attend school in Canada. Costs also vary according to the type of university or college you attend. However, average annual tuition fees range from about $6,000-$10,000 per year for undergraduates.
Many provinces offer free tuition programs for qualified students who meet specific requirements. This usually includes bursaries and scholarships that may be applied for online or at school.
Don’t forget that if you decide to attend school in Canada you will also need to have health insurance coverage.
Another thing to consider when choosing where to study is the Canadian currency. This varies depending on which city you attend school in Canada. Canadian dollars can be exchanged for other currencies such as US dollars or Euros at local banks or currency exchange offices.