As a student moving abroad to study, there are a number of things that you must consider and sort before going. Among these, a major aspect is the financial side.
You may be wondering how much money is required to study in Canada? Specifically, the question may be how much Indian money is required to study in Canada? This is an absolutely crucial question that you must consider. Financials are an important aspect which is often overlooked.
How Much does it Cost to Study in Canada?
Although the cost of studying and living in Canada is not included in the list of criteria, before considering moving abroad for college, it remains one of the key concerns for many. You need to understand the feasibility of taking up this before you start searching for the best universities in Canada and how to apply to study in Canada. The overall cost of studying in Canada is compensated for by expenses such as lodging, food, health care and travel, along with your tuition fee.
Financial Aspects to Consider
Apart from the university fees, there are additional expenses as well that require consideration.
- Tuition Charges:
This takes up a primary chunk of the cost. This depends on the certification form and the institution chosen. You would need between 7,000 and 35,000 CAD per year, roughly. For Indian students, the range of estimated study costs in Canada will be INR 3,50,000 to 19,00,000 a year. Depending on the type of course, you choose for, this number varies.
The universities provide foreign students with an on-campus residency. Students who choose to opt for off-campus accommodation will live across the campus on a shared basis with other students. On-Campus housing can cost from 8,000 to 10,000 (annually) while, depending on your place and time of year, living in a shared apartment can cost you from CAD 400 to CAD 700 per month. It could also go up to 1000 to 2000 in the prime areas and towns.
Other Expenses beyond Tuition and Accommodation
- The expense of Living:
In view of different expenses and living costs, such as communication, travel, books and supplies, products for everyday needs, etc., a single student budget in Canada is approx. 6.000 to 10.000 CAD (indicative).
- Miscellaneous: Various:
Approximately CAD 150 for the visa and research permit Health and insurance vary from 300 to CAD 800 a year (indicative).
The basic cost ranges are listed above to give you an idea of the costs involved and to make plans accordingly for you.
Cost Of Study in Canada for Indian Students
Depending on the Types of Expenses the Yearly Cost of Tuition Fees is around 7,000 to CAD 35,000 (INR 3,50,000 to 19,00,000).
The average Accommodation may be between 7,200 to CAD 24,000 (INR 3,91,054 to INR 13,03,515).
Considering other Living Expenses which include Grocery, transportation, etc comes to around 6,000 to CAD 10,000 (INR 3,23,881 to INR 5,39,802).
In terms of Miscellaneous they may cost you around 1,000 (INR 53,980)Total (with tuition fees) 21,200 to CAD 66,500 (INR 11,44,382 to INR 37,78,620) Total (without tuition fees) 14,200 to CAD 35,000 (INR 7,66,520 to INR 18,89,310).
Cost of Studying MS in Canada for Indian Students
An MS in Canada is of two types, It can be either a programme based on a specific course or a programme based on a thesis for higher studies in Canada. In certain cases, it may be provided as a combination of two by some Canadian universities.
For graduate studies in Canada, the average tuition fee ranges from 20,000 to 30,000 CAD annually.
This costs up to 11.11 lakhs to INR 16.6 lakhs for Indian students.
Other Requirements to Consider
For undergraduate & diploma programmes, a study visa for Canada enables the student to score at least 5.5 in each of the four IELTS band criteria for an overall minimum score of 6.0 and above. On the other hand, graduate courses need a minimum IELTS score of 6.0 in each category and an average IELTS score of 6.5 or higher.
The IELTS is an international standardized test focusing on English language proficiency. Specifically centred for non-native English language speakers. The IELTS exam is jointly managed by the British Council, IDP.
Minimum Bank Balance for Canada Student Visa
You will have to show, as per the existing requirements, that you will have enough funds to pay our tuition fees as well as take care of living expenses. For each year of your stay, Canadian Immigration thinks a student will need at least CAD 10,000.
One of the cheapest choices in Canada when it comes to studying overseas. Compared to other renowned international study destinations such as the US and Australia, the overall cost of studying in Canada, of which tuition fees are the biggest contributor, is marginally lower. This is what pulls students all over the world to this country. However, the requirements here are quite concise. The IELTS exam which is conducted by the British Council and IDP is mandatory here. To know more regarding the same go visit IELTS ninja now for a thorough explanation.