Total cost breakdown to study in Canada 2023
We all know that Canada has ever-increasing popularity as a study destination for Indian students, but the financial requirements do change too. Through this blog, we intend to update prospective international students about the present-day requirements for finances and study permit for Canada.
IELTS Training: beginning with the foremost and the most important requirement, that is IELTS coaching and training, the students need to spend on this one as even if you have a proficient level of speaking and understanding English, you still need an overall score of 6.5 in IELTS. And gaining such a score would require training which can cost a student up to 15,000 INR.
Consultant’s processing fee: an average amount of this cost is 10,000–30,000 INR. However, it is advised to students to choose such consultants who provide them with genuine and unbiased counsel for the courses, the universities and colleges, and the visa application charges. You can avail of all of these services from the comfort of your home just through a few clicks on your computer by checking out myglobaluni website which provides you with a one-stop solution for all your study abroad queries.
Average tuition fees: If we talk about the tuition fee in Canada, for a bachelor's or an undergraduate degree, it can range anywhere from between 14,000–25,000 CAD ( 8,00,000–15,00,000 lacs INR) whereas this cost ranges from 15,000 CAD-27,000 CAD (9,00,000–17,00,000 lacs INR). However, students going for doctoral studies in Canada have to pay 8000–15,000 CAD (5,00,000–10,00,000 lacs INR)
The tuition fee is still a variable as it depends on the type of university and Canadian city a student picks to study. Fanshawe, Conestoga, Algonquin, George Brown and the University of Saskatchewan are some of the cheapest colleges and universities in Canada for students looking forward to studying on a limited budget.
University application charges: typically universities or colleges charge international students about 150 CAD to 200 CAD (9000–12,000 INR) per application which is non-refundable in case of application rejection. Hence, students are advised to choose such universities or colleges which are best suited to their profile and budget of tuition fees.
The GIC: GIC stands for Guaranteed Investment Certificate and is a way to pay up for your upcoming living expenses to support your lifestyle in Canada. This amount is usually 10,000 CAD (6,05,334 INR). If you are taking your spouse, an additional 4000 CAD are required and in the case of children, an additional 3000 for each child needs to be there in your GIC account.
Banking institutions such as HSBC, SBI Canada bank, ICICI Bank, and RBC Royal Bank are there to help you out with your GIC bank account and funds.
Biometrics and Visa Application fee: the biometric processing fee is 85 CAD (5,065 INR) for a single study permit application and 170 CAD as a family fee (family of 2 or more). The processing charge to process a Canadian study permit is 150 CAD (8940 INR).
Like stated earlier, we did promise to give an overview of the expenses that are required to plan your further studies in Canada. It is important to note that some of these expenses can vary depending on the type of city, accommodation and the universities you are choosing, however, the Canadian government has also made it easier for international students applying between November 2022 till December 2023 by allowing them to work for unlimited hours a week off-campus. For further guidelines and consultation for your study abroad plans in Canada, get in touch with us right now!