Living expenses while studying in Canada
Whether you’re only in Canada for your postgraduate program or you want to establish residency after graduating, living in Canada can be expensive. Knowing what expenses to expect as an international student can help you plan ahead so there are fewer surprises when you arrive.
Here are the five most common living expenses in Canada, and how much students typically spend on them.
1. Housing and utilities
Cost range: CA$550 – CA$3,200 per month
Aside from tuition, housing and utilities are the largest living expenses you’ll have every month. You can choose to live in residence on campus or rent an off-campus private room or house that’s not affiliated with the university. Generally, off-campus rent can start at CA$400 per month to as much as CA$3,000 monthly. How much you’ll pay for housing depends on the location and type of room.
Utility costs for services like electricity and water also vary by location. The average monthly cost for utilities while living in Canada is CA$150 to CA$200.
2. Food and groceries
Cost range: CA$240 – CA$480 per month
Food is another unavoidable expense you can budget for. The average student spends about CA$240 to CA$480 on food and groceries. Students who are living in a student residence can opt for a meal plan which can cost CA$3,000 to CA$5,500 per year – or about CA$250 to CA$458 per month.
Cooking at home can help you save money, but if you decide to dine out at a restaurant, a meal can cost CA$10 to CA$25, or more.
3. Transportation
Cost range: Approximately CA$100 per month
Public transportation is the most affordable option for international students on a budget. Transit services in major Canadian cities typically offer monthly passes at discounted student rates.
For example, the regular price of a monthly pass through the Toronto Transit Commission (TTC) is CA$156, but postsecondary students can purchase a TTC monthly pass for about CA$128.
4. Health insurance
Cost range: CA$50 – CA$150
Health insurance helps you pay for doctor or hospital bills if you get sick or unexpectedly injured and need medical attention. Health insurance plans can be offered through your university or through a private health insurance provider.
How much you’ll pay for insurance depends on the plan type, coverage levels, provider and location. On average, it can range from CA$50 to CA$83 per month for a university-sponsored plan, to CA$70 to CA$150 or higher for a private plan.
5. Miscellaneous
Cost range: Varies
After paying for the essential living expenses, you’ll likely have your own discretionary spending to consider. You might need to purchase climate-appropriate clothing that can keep you warm during Canada’s cold winter months or want to enjoy a movie with friends once in a while.
According to Numbeo, the average cost of a movie ticket in Canada is CA$15.50 and a pair of Levis 501 jeans can cost you about CA$76. These types of variable expenses are what you’ll want to budget for while living in Canada.
Budgeting tips for your study abroad
- Find reliable roommates. Sharing an apartment with one or more student roommates can help reduce your cost of living significantly. Expenses, like monthly rent, utilities and groceries can be evenly split so each person benefits financially.
- Cook regularly. The cost of eating out – whether it’s fast food or at a restaurant – adds up quickly. To save money, consider cooking at home and preparing meals ahead of time so they’re convenient to grab on the way to class or work.
- Maximize student discounts. Canadian public transportation, like buses and trains, typically offer a student discount with proof of student ID.
- Track spending. Staying on top of your income and outgoing expenses can help you track where your money goes. The Government of Canada offers a helpful free Budget Planner that lets you visualize your budget.
- Open a Canadian student bank account. Consider opening a student bank account with a Canadian-based financial institution. A domestic checking account can help you avoid costly wire and transfer fees that are applied on each transaction from an international bank account.
Common funding options for living expenses in Canada
Students can turn to a handful of sources to help pay for living expenses while studying in Canada.
- Scholarships and fellowships. Financial support through scholarship awards and fellowship stipends can be applied toward living expenses while you’re studying.
- Part-time work. Full-time international students can now work off campus for up to 24 hours per week without a Canadian work permit. Be aware that you might be required to file a Canadian income tax return, depending on your residency status and residential ties to the country.
- Personal savings. Some students have built personal savings or have access to family savings that can make living in Canada more financially manageable.
- Student loans. International student loans are another option for students who are facing a funding shortage for living expenses. An MPOWER Financing student loan can help students studying in Canada bridge the gap with living costs.
Live in Canada more comfortably with an MPOWER international loan
An MPOWER student loan equips you with the financing needed to settle in and pay for living expenses in Canada so you can focus on what you’re there to do – complete your postgraduate program.
If you’re attending an MPOWER-eligible Canadian university, this funding option might be available to you:*
- Carleton University
- DeGroote School of Business, McMaster University
- McMaster University
- Northeastern University – Canada
- Rotman School of Management, University of Toronto
- Schulich School of Business, York University
- Trent University (university-invoiced expenses)
- University of Alberta
- University of Windsor (university-invoiced expenses)
*Schools mentioned in this post do not endorse MPOWER’s loans and MPOWER is not affiliated with the schools noted here.
