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Education funding options for Pakistani students in Canada

Canada is a highly preferred destination for Pakistani students looking to study abroad. It has many prestigious schools, including the University of Toronto, which was in the top 20 in U.S. News & World Report’s ranking of the best global universities.

However, the cost of studying in Canada can be expensive. Tuition fees vary widely, typically ranging between CA$7,000 to CA$22,000 (PKR 1,470,000-PKR 4,620,000) per year according to EduCanada. Additionally, the government of Canada estimates living expenses cost approximately CA$15,000 (PKR 3,150,000) annually.

If you’re wondering, “How can I finance my education in Canada as a Pakistani student?,” there are several funding options available.

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Key statistics for Pakistani students in Canada

  1. International students distributed across CanadaIn 2023, Canada hosted over one million international students, a significant increase from previous years, with Ontario and British Columbia having the highest concentrations. Key statistics include notable growth and the Canadian government’s recent introduction of a cap on study permit applications.Source: monitor.icef.com  Canada
  2. 70% of international students plan to apply for a post-graduate work permitWith about 70% of these students applying for work permits postgraduation, the PGWP remains a critical pathway for retaining global talent. In 2024, Canada imposed restrictions that require college graduates to be in specific fields to qualify for a PGWP.Source:cbie.ca
  3. 57% of international students plan to apply for permanent residence in CanadaA significant 57% of international students in Canada plan to apply for permanent residence, often through programs like the Canadian Experience Class (CEC) or Provincial Nominee Program (PNP).Source: cbie.ca

Five ways to fund your education in Canada

1. Scholarships, fellowships and grants

If you need financial support, you may qualify for international scholarships, fellowships or grants from Canadian institutions.

For example, Global Affairs Canada offers the Study in Canada Scholarship, which provides up to CA$12,700 (PKR 2,667,000) for international students. 

Scholarships are highly beneficial because they do not require repayment. Pakistani students can explore scholarships through InternationalStudent, eduPass and EduCanada.

2. Financial aid from Pakistani sources

Several Pakistani organizations provide financial assistance for studying in Canada:

  1. Higher Education Commission (HEC) Scholarship – Covers tuition fees and living expenses for graduate studies
  2. Fulbright Scholarship – Prestigious awards for Pakistani students
  3. USEFP opportunities – Various exchange and study programs

3. Work-study programs for Pakistani students

Many schools operate work-study programs for international students. If your selected university has a work-study program, you can work part time and earn money to cover some of your education expenses.

Work-study programs always pay minimum wage or higher, but there are often income restrictions. Contact your school’s registrar or financial aid office to find out what options are available.

4. Part-time jobs in Canada

If your school does not have a work-study program, you can apply for part-time jobs independently. Canada allows international students to work on-campus or off-campus while studying. Some popular job platforms include:

After completing your studies, you can apply for a post-graduation work permit (PGWP) to work full time in Canada. Source: IRCC

5. MPOWER Financing – The best private education loan for Pakistani students

MPOWER Financing is a leading provider of education loans for Pakistani postgraduate students studying in Canada. Unlike traditional lenders, MPOWER Financing does not require a cosigner or collateral to qualify for a student loan.

  • Loan amount: Up to US$100,000 (PKR 28,630,000)
  • Repayment terms: In-school interest-only payments and for six months after graduation with no prepayment penalties
  • Eligibility: Available for postgraduate students at top Canadian universities
  • Islamic finance options: Available for Pakistani students seeking Shariah-compliant financing
  • State Bank of Pakistan compliance: All transactions comply with STB regulations

Pakistani students can apply online and receive a loan decision within minutes.

Apply for an MPOWER Student Loan

Funding your study abroad program

Studying in Canada can be an excellent way to get an outstanding education and experience another culture, so don’t let the cost keep you from pursuing your dreams. There are several financial aid opportunities and funding options that can help you pay for your education.

Once you’re ready to go abroad, you’ll want to find a Canadian bank to help manage your finances. TD Bank* offers an exclusive International Student Package with no transfer fees and unlimited monthly transactions – plus more benefits designed specifically for international students! Learn more and get ahead with your finances here.

*TD Bank is a partner with MPOWER Financing, and MPOWER may receive compensation for successful referrals.

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FAQs

1. How many hours can Pakistani students work in Canada?

Currently, international students can work 24 hours per week during the semester and full time during breaks.

2. What documentation do Pakistani students need for financial aid?

Required documents typically include:

  • HEC-attested academic records
  • Bank statements as per SBP guidelines
  • Valid passport and study permit
  • Proof of admission
  • Financial documentation meeting Canadian requirements
3. Can I apply for a loan without a cosigner?

Yes! MPOWER Financing offers student loans without requiring a cosigner or collateral.  They make loan decisions based on the school and program you choose which indicate your future career prospects.

4. What’s the cost of living for Pakistani students in Canada?

Living expenses typically range from CD$15,000-CD$20,000 (PKR 3,150,000-PKR 4,200,000) per year, depending on location.
By utilizing these scholarships, part-time work opportunities and education loans, Pakistani students can successfully fund their education in Canada and focus on their academic journey.


*Rates as low as 9.99% (11.16% APR). This interest rate and APR includes a 0.25% discount for automatic recurring payments.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

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