Budget to study in Canada

Prepare your budget to study in Canada

By Vinit Shah  |  5 min   |  July 22, 2021

Prepare your budget to study in Canada

If you are choosing Canada or any other country to pursue your higher education, budget is one of the things you should plan in prior order.  You should plan study costs as well as the living cost of the respective location.

You can search the programs and courses along with the tuition fees and plan your yearly or semester expenses accordingly. Search for programs at colleges and universities across Canada and compare the cost of tuition. You can also use some tools online that provide cost of living estimates to guide you. www.Vidhvaan.com provides a list of many programs with tuition fees for each.

Living expenses in Canada

While you pick the program and college of your choice, plan for the other expenses to support your living.

Your budget consists of various factors as a student.  Plan an estimated cost for books, computer, housing, food, clothing, transportation, health insurance, travel insurance, housing and accommodations, and fun as well.

Housing plan: You may pick on campus or off campus housing as per your requirement and budget. You may pick off campus housing to save expense as you will have roommate to share expense of living. Cooking at home is cheaper although a college meal plan may be more convenient and a better option.

Food and groceries: When it comes to food, you may have many options in Canada. The monthly expense on groceries per student may come to around $200 per month. Living on campus gives easy option of getting a meal plan as mentioned above.

There are some amazing restaurants to try in Toronto and other cities as well.

Health insurance: Canada has no national healthcare plan. Instead, each province and territory provides universal free health care to its citizens. As an international student, you need to determine whether your province or territory extends health insurance to you. In provinces where there is no coverage for international students, your school will have medical insurance plans for purchase.

Travel health insurance: Travel health insurance is different from basic health insurance. It will be useful if your time in Canada is short (less than one year) and you expect to live in different parts of Canada. This may apply to students planning to attend High school for only 9 or 10 months, Language school for 12 or 20 weeks, a summer camp language school, and a co-op program or internship.

Entertainment: It’s important to take time to relax. So determine what activities you would like to do in leisure time and spend your budget accordingly.

Clothing: Clothing is one of the basic necessities and hence you have to have a budget for it. In addition to that, Canada may be colder than your home country. You will need winter jackets, snow boots and warm clothing that you should buy once you are in Canada. Check the weather of your location and plan your budget accordingly.

Transportation: When you live in Canada, you may require certain transportation from college to work and home. Hence, you need to manage a budget for the same. You may check for student pass for public transportation. Private vehicle as a new student is uncommon, and rather not needed as the insurance costs are heavy with the car payments.

Travel: While you are in Canada, you may go to see places or visit people who live far. In such cases, you need to spare a budget for traveling cost that includes tickets, meals and temporary accommodation.

Discounts for international students in Canada

As an international student, you may find many discounts in various deals at stores, restaurants, public transit, airlines, trains and others offering reduced prices for students. To access these student discounts, you will need a valid student identification card. It is also recommended getting the International Student Identification Card for additional benefits.

Planning everything in advance and managing the budget will give you a good amount of savings that will surely enrich you in every way. Try to get an on campus job within the visa limitations, that can go a long way.

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