Table of Contents
Expense Introduction:
In every year, a lot of international students travel to Canada for higher studies, some go to achieve undergraduate degrees and postgraduate degrees, and some of them go for employment purposes. Before you start traveling to Canada for developing your career and for work purposes, you should sit back with the expense list of Canada because this is a crucial factor you should take into account. Let’s go through this article to know what expenses you should consider as a student in Canada.
Accommodation
Several universities in Canada offer international students to take hostel facilities inside the campus. If you are not familiar with these accommodation facilities, then you can rent a house alone or you can stay with your friends which is outside of the campus. Staying in the hostel campus will let you count the expense from 7,500 CAD to 15,000 CAD and if you plan to stay at housing, then the expense will come between 500 CAD to 1000 CAD. Note that this cost will vary on the place you select to live and the season and each city has its own expenditure rate of rent. Another option for staying can be taking a room with a family who is by born or citizen in Canada. In this case, a placement charge is required that is around 300 CAD, and monthly you have to pay between 700 CAD and 1000 CAD for food and staying if you choose this type of housing. However, a lot of Canadian colleges and universities also provide facilities to stay in their dorm rooms. Living in a dorm has its benefits. You will have greater safety because you are living inside the campus. Note that choosing to stay in a dormitory is an expensive plan and if you sign up later, you might not get an empty seat because these seats get booked very quickly. Another suitable option for accommodation is staying with a homestay family. This is a great opportunity for international students because staying with a family can help students to increase their communication skills. Another opportunity is students will be able to eat their meals twice to thrice a day which is offered by the host according to the student’s needs. This is helpful for students if they do not know how to cook. Usually, hosts are very friendly, and yes, in some cases there are some hosts who do not want to become friendly or unsocial. According to the place and the condition of the room, the expense for this type of accommodation can range from 750 CAD to 2000 CAD per month.
Communication costs
As an international student, it is normal that you will frequently call your family members, relatives, and friends. Therefore, it is advisable to separate the money that you will recharge on your phone and for the data packs. Look for calling plans that are affordable and discounts and offers over the data plan and grab them according to your need and budget. The average cost of a phone is around 30 CAD per month.
Personal expenses and other costs
There are many personal expenses that you should consider making a budget before leaving your country and starting for Canada. The common expenses you must bear after laundry, clothes, toiletries, eating outside, etc. These expenses are totally up to you because the way you will decorate your lifestyle the cost will be that much.
Tuition fee
The expense of academic studies will depend on the university where you will study. You should prepare yourself to make financial arrangements between 15,000 CAD and 50,000 CAD every year so that you can cover your institute’s costs. The approximate tuition fee for a student in a year is 16,245 CAD to 45,154 CAD. Subjects on those you have to spend less expense like humanities, arts and education and the high expenditure subjects are medicines and engineering. Some subjects are there in postgraduate degrees that have high expense rates according to the program you will select to study. MBA is an expensive program in Canada. You should keep a budget from 25,000 CAD to 50,000 CAD for reading MBA.
Health Insurance Expense
Health insurance should be kept in mind before traveling to Canada. The expense rate of health services is high if students do not have health insurance. The expense for an appointment with a doctor is around 200 CAD. And the expense to visit the emergency room will be around 1500 CAD. If you think that you need a personal room for your treatment, then the approximate cost can be around 5000 CAD per night. The cost of doing an MRI scan can be between 850 CAD and 3000 CAD and this expense can be reduced by having a health insurance plan. Most health insurance companies collaborate with doctors to reduce the treatment expense of the patient. Therefore, you have to count more money without a health insurance plan to do a consultation with a doctor. Several colleges and universities allow international students to take the health insurance program which is mandatory. Here is a list of some health insurance firms that you can choose to take:
- TuGo
- Manulife Financial
- Allianz Global
- Sun Life
- Ingle International
- Cowan Insurance Group
- Greenshield
Each province of Canada has its different health insurance policies. The benefits you will get by obtaining international student health insurance are mental health, emergency medical care, evacuation, vaccinations, doctor visits, hospitalizations, and sports injuries.
Transportation
Traveling expenses will vary on the distance of your residence from your university. The transportation facilities you will find in Canada are buses, ferries, and tram cars. A monthly expense on average for traveling can be between 150 CAD and 200 CAD.
Conclusion:
The above-mentioned expense list of Canada is essential for students who are planning to study in Canada. As you have gone through this article, we hope that now you can prepare your budget before you start for Canada. It is advised that you keep yourself updated before going to Canada for academic purposes. Note that this expense will vary on the economic condition of Canada.
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