Money Matters
'Expenditure' is an area which most students would like to have detailed information first, before they plan their education abroad. In fact, awareness about the costs involved is 'very crucial' before one ventures into this expenditure-involved process.
Here are the details of Specific costs involved in Study Abroad Process
1. Application costs
Your study abroad plans start with the application process. If you want to apply for 4-6 universities/colleges, you have to consider Application Fees, Courier Charges, Cost of Documentation and Miscellaneous Expenditure like Stationary etc.
Very few universities facilitate applications without fee, but most have an application processing fee, which is mandatory for international students. For Canada, the average application fees may be between $25- $95 CAD which is around the same costs as US universities.
2. English Tests
Students have to write GRE and TOEFL as a prerequisite for admissions in universities. Each student has to pay Coaching Fees and Examination Fees as prescribed by the respective Testing Agencies. The total expenditure for tests will be in the range of 15,000-25,000 (approximately).
3. Scores reporting costs
Scores of TOEFL and GRE / GMAT / SAT are to be directly reported for the application process. Following are the present charges for score reporting (in addition to what ETS / College Board allows FREE, at the time of registration)
Students can save $40-$90, if they can report the scores to the respective universities at the time of Exam itself.
4. Tuition and fees
Interestingly, Bachelor's degree is costlier than Master's degree because of the more number of credits involved at Grad level. Please note that all the costs indicated are approximate and vary upon the universities and programs. These costs will hike from one year to another. However, the average increase is around 5-10% per annum.
5. Cost of living expenditure
Most people from UK and Europe find the cost of living in Canada is significantly lower than their home country.
Canadian housing is particularly cheap compared with other developed nations - the average house price in Canada is around seven times the average annual wage.
Compared with many other western countries, although not the USA:
More detailed figures from the survey showed that
6. Insurance
Student travel insurance for international students studying in Canada helps protect students from unexpected costs due to accidents, health and medical emergencies while studying in Canada. Doctor bills are expensive and emergency medical and hospital care can cost thousands of dollars a day. In the event of a serious accident or a health or medical emergency, student travel insurance for international students also pays for the cost of returning you home, which can be very costly. International travel health insurance for students studying in Canada can cost as little as $4.00 per day.
International travel insurance for students studying in Canada can be purchased by any international students studying in Canada who are:
7. Books and supplies
This could be anywhere between US $ 400-1200 per year, depending upon field of study and the courses chosen
8. Other costs
Visa application fee, air fare and settlement expenses like deposit on room/flat, basic necessities etc. are also to be considered, while calculating the expenditure involved for studying abroad. Air fare may range between Rs 50,000 to 75,000 depending upon the country, season and airline.
9. Educational Costs
The cost of studying in the Canada is determined by the tuition fees of the course and institution/university. It can be varied from university to university but on an average the cost of universities fees may look as the chart shown below:
Also below table shows the average fees for graduation and post-graduation course with living expenses.
A minimum expenditure is ideal towards preliminary expenditure - including coaching costs for GRE/TOEFL, etc. and an additional Rs 3-5 lakhs towards tuition and fees for one semester and living expenses for two-three initial months.
In case if bank loan or any other educational loans are available, you may not need to carry much money physically, since most payments would be taken care by the loan-granting institution. Some private education loans even pay for your living expenditure when you study abroad.
10. Student Part-time Jobs:
According to Canada Visa regulations, if students have a valid study permit, they may be able to work on the campus of the institution they attend without a work permit. The students may be allowed to work for the institution itself or for a private business located on the campus.
To do this, there must be a valid full-time student visa at a public university, a community college, acollège d'enseignement général et professionnel (CEGEP), publicly funded trade or technical school or a private institution authorized to confer degrees.
'Expenditure' is an area which most students would like to have detailed information first, before they plan their education abroad. In fact, awareness about the costs involved is 'very crucial' before one ventures into this expenditure-involved process.
Here are the details of Specific costs involved in Study Abroad Process
1. Application costs
Your study abroad plans start with the application process. If you want to apply for 4-6 universities/colleges, you have to consider Application Fees, Courier Charges, Cost of Documentation and Miscellaneous Expenditure like Stationary etc.
Very few universities facilitate applications without fee, but most have an application processing fee, which is mandatory for international students. For Canada, the average application fees may be between $25- $95 CAD which is around the same costs as US universities.
2. English Tests
Students have to write GRE and TOEFL as a prerequisite for admissions in universities. Each student has to pay Coaching Fees and Examination Fees as prescribed by the respective Testing Agencies. The total expenditure for tests will be in the range of 15,000-25,000 (approximately).
3. Scores reporting costs
Scores of TOEFL and GRE / GMAT / SAT are to be directly reported for the application process. Following are the present charges for score reporting (in addition to what ETS / College Board allows FREE, at the time of registration)
| TOEFL - $17 | GRE - $15 |
| GMAT - $28 | SAT - $ 9 |
| IELTS - Local center will determine the cost of additional score reporting | |
Students can save $40-$90, if they can report the scores to the respective universities at the time of Exam itself.
4. Tuition and fees
Interestingly, Bachelor's degree is costlier than Master's degree because of the more number of credits involved at Grad level. Please note that all the costs indicated are approximate and vary upon the universities and programs. These costs will hike from one year to another. However, the average increase is around 5-10% per annum.
5. Cost of living expenditure
Most people from UK and Europe find the cost of living in Canada is significantly lower than their home country.
Canadian housing is particularly cheap compared with other developed nations - the average house price in Canada is around seven times the average annual wage.
Compared with many other western countries, although not the USA:
- Food is cheaper in Canada
- Dining out and most forms of recreation are cheaper in Canada.
- Petrol / Gasoline and cars are cheaper in Canada.
- Power is cheaper, but you use more power to heat your house in a typical Canadian winter.
- Car insurance is very expensive in Canada.
More detailed figures from the survey showed that
- The cost of living in Toronto is 30 percent lower than in London, UK.
- The cost of living in Vancouver is 12 percent lower than in Amsterdam, Netherlands.
- The cost of living in Canada's capital, Ottawa, is 5 percent lower than in Glasgow, UK.
6. Insurance
Student travel insurance for international students studying in Canada helps protect students from unexpected costs due to accidents, health and medical emergencies while studying in Canada. Doctor bills are expensive and emergency medical and hospital care can cost thousands of dollars a day. In the event of a serious accident or a health or medical emergency, student travel insurance for international students also pays for the cost of returning you home, which can be very costly. International travel health insurance for students studying in Canada can cost as little as $4.00 per day.
International travel insurance for students studying in Canada can be purchased by any international students studying in Canada who are:
- Not insured or eligible for benefits under a Canadian Government Health Insurance Plan.
- Are currently in good health.
- Are enrolled in at least 60% of the required courses for a specific program at a Canadian school, college, university or accredited educational institution.
7. Books and supplies
This could be anywhere between US $ 400-1200 per year, depending upon field of study and the courses chosen
8. Other costs
Visa application fee, air fare and settlement expenses like deposit on room/flat, basic necessities etc. are also to be considered, while calculating the expenditure involved for studying abroad. Air fare may range between Rs 50,000 to 75,000 depending upon the country, season and airline.
9. Educational Costs
The cost of studying in the Canada is determined by the tuition fees of the course and institution/university. It can be varied from university to university but on an average the cost of universities fees may look as the chart shown below:
| TUITION FEES | LIVING EXPENSE | |
| Under Graduation | 10000-12000 CAD | 8000-10000 CAD/Year |
| Post Graduation | 10000-15000 CAD | 8000-10000 CAD/Year |
Also below table shows the average fees for graduation and post-graduation course with living expenses.
A minimum expenditure is ideal towards preliminary expenditure - including coaching costs for GRE/TOEFL, etc. and an additional Rs 3-5 lakhs towards tuition and fees for one semester and living expenses for two-three initial months.
In case if bank loan or any other educational loans are available, you may not need to carry much money physically, since most payments would be taken care by the loan-granting institution. Some private education loans even pay for your living expenditure when you study abroad.
10. Student Part-time Jobs:
According to Canada Visa regulations, if students have a valid study permit, they may be able to work on the campus of the institution they attend without a work permit. The students may be allowed to work for the institution itself or for a private business located on the campus.
To do this, there must be a valid full-time student visa at a public university, a community college, acollège d'enseignement général et professionnel (CEGEP), publicly funded trade or technical school or a private institution authorized to confer degrees.
- Working off-campus during course:
To work off campus, a student must have a work permit. Through the off-campus Work Permit Program, a student can work part-time during regular academic sessions (20 hours per week) and full-time during holidays/vacations. They are eligible to work in any occupation, and can change employment whenever they want.
To qualify for the program, you must have a valid study permit and be a full-time student at a recognized post-secondary educational institution. Recognized institutions generally include a public, post-secondary college or university, a CEGEP in Quebec and degree-granting programs offered by private institutions.
