Find out how much it costs to live in Canada as an Indian student

For international students with dreams of a promising future, Canada can be an ideal country to study in. The presence of premier academic institutions, globally-recognised degrees, and cross-cultural experience are factors that make it a desirable study destination. However, if you find it challenging to manage the costs of studying in Canada, it is always advisable to have a well-structured financial plan in place before you land and head to this dream institution.

Here’s a quick overview of the factors you’ll have to keep in mind when planning your budget to study in Canada:

1. Accommodation cost

Most Canadian institutions offer on-campus residence facilities to international students. Off-campus housing, where you can share an apartment with other Indian students, is also an option. On-campus lodging can cost anywhere between CAD 8,000 and CAD 10,000 per year, whereas a shared apartment might cost somewhere between CAD 400 and CAD 700 per month, depending on your chosen location and time of year. Keep in mind that rental rates differ by city.

An alternative option is a homestay where you stay with a host family in Canada. In this, you will have to pay a placement fee of CAD 200 and a monthly fee of CAD 750 to CAD 950 in return for meals and a room. If you choose homestay, you will also be able to participate in local activities with the host and learn about the culture closely.

As part of our Student Essential Services, we assist you in finding suitable lodgings in Canada. Your age, course type, and budget are all taken into consideration to help you find a place that custom-fits your needs.

2. Living cost

Indeed, there exists a substantial difference between living in Canada and your home country. It is important to explore the Canadian lifestyle and cost of living of the place where you plan to stay. Quebec makes one of the most affordable Canadian cities with the cost of living far less compared to other cities.

Also, while applying for your student permit, you have to prove to the Canadian government that you have enough money to meet the financial expenses. So, keep that in mind!

When planning your budget, do include the following expenses:

  • Communication costs: Always set aside money in your budget for phone and data bills as you’d be calling your friends and family back home frequently. Look for low-cost calling plans as well as student discounts. The average monthly cost will be around CAD 20.

  • Textbooks and supplies: Buying textbooks can be costly. Books for engineering courses, for example, might cost anywhere between CAD 250 and CAD 350. The value of courses like law, medicine, and pharmacy can be even higher. You may keep this within your budget by buying used books, purchasing digital versions, or even enrolling in library membership.

  • Personal expenses and incidentals: Laundry, toiletries, clothing, dining out, and so on will be part of your everyday spending. This is largely dependent on the type of lifestyle you select.

3. Transport costs

Without any doubt, Canada is a developed country with a well-established public transportation system offering multiple commuting options like trains, buses, and cabs. Alternatively, it’s also safe to walk and cycle to save money or maintain a healthy lifestyle. However, these options may vary depending upon the distance to be travelled.

To give you a fair idea, Toronto has the TTC (Toronto Transit Commission) which is a dual bus and subway system that spreads through the city, while Montreal has the STM (Société de transport de Montréal) which is a four-line subway network spanning through the city. Simultaneously, Vancouver has a unique railway line known as SkyTrain, which is as affordable as CAD 9 for a day pass that offers unlimited travel throughout the city for 24 hours.

4. Health insurance costs in Canada

It will be mandatory for you to have health insurance, but the coverage depends upon the province you decide to study in. For instance, if you decide to study in Quebec, Manitoba, British Columbia, Alberta, Saskatchewan, Labrador, and Newfoundland, then you’ll be covered under the provincial government’s health plans that will be timed according to your length of stay. In any other province, you’ll have to arrange for private health insurance.

The opportunities and quality of life that Canada offers make every penny spent worth it. So, don’t worry; you can manage this cost-effectively as long as you have a smart approach. You can always work part-time while studying. Not only will this help you take control of your finances but also enhance your personality and skills.

Read more: On-campus and off-campus jobs in Canada

So, gear up and get started to plan your studies in Canada. If you need any guidance at all, IDP’s international education specialists are always there. Just reach out to IDP’s international education specialists and we will be happy to help you.