There are now tons of foreign students looking to study abroad. For university education, Canada becomes such a well-liked country that it annually draws thousands of international students. A few of the factors why overseas students are flocking to Canadian universities to further their education include:
- major universities’ top-notch educational offerings
- practical teaching methods
- an abundance of job and internship prospects
- a very safe environment to study in, and more.
If students decide to study in Canada, the cost of studying in Canada for Indian students will be something they need to take into account. Living and studying in the country is still far from cheap, despite the fact that the cost of tuition and other living expenses is lower than in the US.
Here are a few of the top strategies for international students to reduce expenses.
Seek Financial Aid
You are capable of applying for grants and scholarships at Canadian universities. Numerous scholarship programs are available for Indian students from the Canadian government as well as other governments and non-profit groups. Depending on the kind of scholarship you can secure, you will either receive full or partial financing for your education. Receiving a scholarship will allow you to help decrease your study-related expenses.
For postgraduate and research studies in Canada, Indian students can apply for the scholarships listed below.
Scholarship program | Funded by |
Banting Postdoctoral Fellowships | Government of Canada |
Canadian Queen Elizabeth II Diamond Jubilee Scholarship | Government of Canada |
CIFAR Global Scholars | Canadian Institute for Advanced Research |
CIHR Fellowship | Canadian Institutes of Health Research |
IDRC Doctoral Research Awards | International Development Research Centre |
IDRC Research Awards | International Development Research Centre |
Mitacs Elevate | Mitacs |
Mitacs Globalink Research Internship | Mitacs |
Research Associate Program | National Research Council Canada |
Sauvé Scholars Program | Jeanne Sauvé Youth Foundation |
Trudeau Doctoral Scholarships | Trudeau Foundation |
Trudeau Research Fellowships | Trudeau Foundation |
Vanier Canada Graduate Scholarships | Government of Canada |
Visiting Fellowships in Canadian Government Laboratories Program | Participating government departments and agencies |
Plan your budget
You now have a general idea of your money coming in and going out. It’s time to come up with a strategy on how to manage the living expenses in Canada for Indian students.
Keep in mind that balancing money coming in and going out is the essence of budgeting. We recommend the following “freshman” activity if you are new to budgeting. Make use of a spreadsheet to:
- Keep track of your income for the coming month.
- Prepare a list of your expenditures for the same month’s money outflow.
- Make adjustments until your income equals your spending.
- Set up a financial schedule for one semester.
You could record your projected earnings and cash outflows for a semester in your financial calendar. It helps you manage periodic and irregular income and expenses and is more comprehensive and long-term than an income and expense worksheet.
At the end of the term, evaluate your true financial situation against the planned financial calendar and make note of any differences. It will really enable you to comprehend your personal financial blind spots and pinpoint places where your budgeting needs fixing.
Find an on-Campus Job
It may be challenging to make money on the side regardless if you receive funding from a grant or other sources. Nevertheless, most institutions have a lot of job openings that are accessible to their students. Indian students can browse and submit applications for jobs on the websites of the majority of institutions and universities.
Typically, many professions in Canada are also open to foreign students. But there are some regulations you must follow, as set down by the local government. You should:
- attend a post-secondary institution full-time,
- own a current study permit and a Social Insurance Number (SIN)
The good thing is that working on campus doesn’t only entail being based in a school facility. Direct employment opportunities exist with faculty members, student organizations, privately run businesses on campus, and many others.
Save Money on Accommodation
Rent is a primary cost of studying in Canada for Indian students. International students can choose from a variety of housing alternatives, including shared rooms, dorms, student hostels, flats, etc., both on and off campus. Generally, off-campus housing is more expensive than on-campus housing. When compared to the cost of living on campus, going off-campus will not be costly because students receive significant discounts on the transportation system. Additionally, choosing shared housing will reduce your rent by 50% and enable you to save money.
Sure, the living expenses in Canada for Indian students are not cheap. But we have provided ways you can minimize your expenses in the country while maximizing its educational potential. Now, it is your job to perform these to help lessen your study and living costs.
Canada is an amazing country for international students. Check out more of our articles to learn more about this nation.
Google