International study programs: MBA

An MBA is a desirable graduate-level degree for young professionals hoping to climb the corporate ladder, develop leadership skills or pivot to another career. 

For those looking to study abroad in the U.S., it can be hard to know whether an international education in business management will support their career goals. Here’s what to expect from an MBA program, tips for applying and possible career options beyond school.

What’s an MBA program? 

A Master of Business Administration (MBA) is a graduate program, typically two years long, where students become skilled leaders and networkers. Students learn quick and accurate data analysis, business fundamentals and many important soft skills. 

Courses you might encounter in an MBA program include: 

• • Economics
  • Marketing
  • Accounting
  • Finance
  • Operations 

While MBAs typically have broad core curriculums, most programs offer concentrations in various subjects such as business analytics and technology management. Abundant networking possibilities, internships and experiential learning opportunities also contribute to the value of MBA programs. 

What are the benefits of getting an MBA in the U.S.? 

According to the 2024 GMAC Corporate Recruiters Survey, employers continue to express high demand for U.S. MBA graduates in 2024.

MBAs can offer significant return on investment (ROI), but it varies widely between programs. Though it may seem wise at first to avoid costly tuition fees, US News reports that graduates from high-ranking programs earn starting salaries three times higher on average than those who graduate from low-ranking schools.

The initial cost may be higher, but an MBA from a top U.S. institution can pay off in a big way. If your funds fall short, MPOWER offers no-cosigner, no-collateral private loans for students studying at MBA programs in the U.S. and Canada. To help you land a competitive starting salary, MPOWER students get access to exclusive professional development services. These include networking tips, resume building and an F-1 eligible job directory.

For support financing your international education and jumpstarting your dream career in the U.S., apply for an MPOWER loan now.  

How to prepare for an MBA program in the U.S.

An MBA is a huge financial and time commitment. Before commencing your international education, consider the following:

Choose the right program for you

Many applicants rely heavily on MBA rankings when determining which schools to apply to. While rankings are valuable, don’t neglect to consider other important factors such as location, available concentrations, school culture and program length.

Once you’ve found the right programs, check if they’re in MPOWER’s list of 500+ schools for loan eligibility. MPOWER-eligible schools are evaluated based on graduation rate, postgraduation employment rate and alumni earnings. Find your school to determine whether your selected program is available for an MPOWER loan.

Reflect on your career goals

Most MBA applications require a statement of purpose (SOP) in which applicants state their case for admission. There’s no perfect format for an MBA SOP; every school’s prompt will be slightly different. A compelling SOP should clearly state your career goals, why an MBA is crucial for your success, why you belong at that particular school, and what you will contribute. Before applying, clarify your ambitions, talents and why this is the right time in your career for an MBA.

Determine how to finance your MBA

Tackling the financial burden of a top U.S. MBA program can be intimidating. Most students require a combination of loans, scholarships and savings to finance their MBA; however, many lenders don’t accept loan applications from international students. 

MPOWER helps you receive your MBA through no-cosigner and no-collateral international student loans with competitive interest rates and no prepayment penalty. For additional funding, apply for MPOWER’s international MBA scholarship. 

Three jobs you can get with an MBA

An MBA can unlock a wide array of job opportunities for international students. Here are three jobs for MBA graduates with high compensation and excellent job growth forecasts: 

Computer and information systems manager

Annual base pay range: US$105,000-US$182,000

Computer and information systems managers employ technical expertise and managerial competency to direct the technological activities in an organization. They must have the necessary communication skills to coordinate with executives and negotiate with vendors as well as the technical skills to oversee the maintenance of complex computer systems. 

Personal finance advisor

Annual base pay range: US$71,000-US$132,000

Personal financial advisors help manage their client’s money and financial futures. They use interpersonal and analytic reasoning skills to create budgets and retirement plans, offer investment advice and help clients navigate taxes, insurance and mortgages. 

Medical and health services manager

Annual base pay range: US$80,000-US$135,000

Medical and health services managers direct and coordinate the business activities of healthcare facilities such as hospitals and nursing homes. As detail-oriented problem solvers, they keep meticulous records and make sure organizations comply with regulations.

Final thoughts: Getting an MBA in the U.S.

No matter your passion or academic background, an MBA can give you the necessary network, knowledge base and leadership skills to achieve your career goals. 

If you plan on studying in the U.S. and need help financing your MBA program, learn how an MPOWER international student loan can support your education at any of the top MBA programs in the U.S.

Exploring postgraduate universities and funding options in Toronto

More international students are choosing to advance their education in Canada thanks to its safe, multicultural environment and reputation for a quality education. 

According to the Canadian Bureau for International Education, more than 1 million international students were studying in Canada by the end of 2023. The province of Ontario, whose capital is Toronto, hosts the greatest percentage (52%) of study-abroad students.

If you’re thinking about completing a postgraduate study abroad program in Toronto, here’s what to know about the area’s top schools, what to expect with the admissions process, and study abroad advice for a successful experience.

University options in Toronto, Canada 

There are many colleges and universities for international students to consider in Toronto, but these are the three most notable universities, depending on your postgraduate goals.  

University of Toronto 

The University of Toronto offers more than 200 postgraduate programs and is best known as a research powerhouse in fields like medicine and artificial intelligence.

The institution had nearly 6,000 enrolled international graduate students during the fall 2023-24 academic year. Students’ top three home countries were China, India and the United States. 

Tuition costs for international graduate students range from CA$6,210 to CA$46,270 for the 2024-25 school year. This range, however, doesn’t include required non-academic fees.

York University 

York University is a globally recognized research institution offering three campuses to choose from. Its postgraduate programs include health, engineering, business and more.

There are more than 9,600 international students across all academic levels studying abroad at York University in Toronto. The top home countries of its international student population include China, India and Iran.

Tuition and fees for full-time international students are up to CA$43,300, however, costs can vary depending on your graduate program and the academic year or term of your enrollment.

Toronto Metropolitan University 

Formerly Ryerson University, the Toronto Metropolitan University offers graduate programs in engineering and architectural science, science, management and more.

More than 4,000 international students from over 140 countries choose to study abroad at the university during the fall 2023-24 year. 

Full-time tuition and ancillary fees for postgraduate study abroad students vary, based on your chosen graduate program. For example, the students enrolled in the school’s Master of Applied Science Aerospace Engineering program can expect to pay CA$29,289 for the fall 2024-25 academic year, while those pursuing a master’s in data science and analytics can expect tuition and fees at CA$27,219.

Toronto’s postgraduate study abroad admissions checklist 

Once you’ve identified a postgraduate program in Toronto that aligns with your academic and long-term career goals, you’ll need to prepare for Canadian admissions requirements. 

• • Academic standards: You must meet the GPA standards set by your university and postgraduate program. Ensure you’ve completed all prerequisites for enrollment and verified international equivalencies for your education in your home country.
  • Language proficiency: Toronto colleges and universities require that you meet English language proficiency requirements. If you’re a non-native English speaker, be prepared to provide a copy of your International English Language Testing System (IELTS), Test of English as a Foreign Language (TOEFL) scores. TEF or TCF scores for French language proficiency are also commonly accepted by Toronto schools, but double check your university’s specific requirements.
  • Application process: Take note of the school’s admissions application deadline and required documentation to include with your application. Also, be aware that there’s typically an application fee required.
  • Personal statement and references: Write a compelling statement of intent, including why you want to attend the specific university. Postgraduate programs often have their own specific admissions requirements, which might include letters of reference.

In addition to meeting the university’s academic and language requirements, international students must satisfy Canadian immigration and financial verifications. This includes obtaining a Canada study permit. 

MPOWER Financing has partnered with BorderPass to smooth the study permit application process. MPOWER Financing customers can access an exclusive BorderPass rate to receive study abroad advice from Canadian law professionals, as well as deadline reminders and status updates throughout the process.

Additionally, you must prove you have sufficient funds for tuition and to cover your cost of living while studying in the country.

Funding options for your postgraduate study-abroad education

Students can leverage their personal savings and monetary support from family back home. However, not all students and their families can do so. If you need additional funding sources to pay for your postgraduate education, there are a few options to consider.

Apply for scholarships and grants 

Scholarships and grants are financial aid that doesn’t need to be repaid after leaving school. Each program has different eligibility and application requirements. You can find these aid opportunities through government-sponsored scholarships and university-funded scholarships and grants.

For example, the Canadian Bureau for International Education offers the Global Affairs Canada International Scholarships Program. The program’s Study in Canada Scholarships offer graduate recipients a scholarship award valued at CA$12,700 for five to six months of graduate-level study or research in the country. 

If you were accepted into a Toronto-based university, learn about its available scholarship programs for international students. The University of Toronto, for example, offers a handful of scholarships, including the International Scholar Awards and In-Course Scholarships. 

Search for on-campus jobs and assistantships 

Finding part-time work while studying abroad can be challenging, but it’s possible. To get started, visit your campus’s international students office or career center to browse available part-time jobs on campus. These opportunities often have flexible work schedules that might better fit with your busy postgraduate workload.

Postgraduates can also look into teaching or research assistantships. In these roles, you’ll assist faculty and staff with various tasks and projects, depending on your appointment. 

Explore an international student loan from MPOWER Financing 

An international student loan from MPOWER Financing offers fixed-rate loans for up to US$100,000. This private funding can help you pay for academic costs as well as living expenses while studying in Toronto. 

As an MPOWER customer, you don’t need a cosigner or collateral to secure the loan. Plus, you can access benefits, like an interest rate discount for signing up for autopay and services through our Path2Success program. See if you’re eligible for an MPOWER loan today.

Living in Toronto as a postgraduate study-abroad student 

Living in a new country requires preparation and planning. It’s no different when pursuing a postgraduate study abroad program in Toronto. On top of paying for tuition, fees and mandatory supplies related to your curriculum, you’ll also need to budget in advance for certain expenses.

This includes on- or off-campus housing, utilities, meals, transportation and health care. Read more on how to successfully plan for life while studying in Toronto. 

Having a smooth postgraduate study abroad experience in Toronto 

Meeting Canada’s study permit requirement and your preferred university’s academic criteria will help your chances of starting your postgraduate study abroad journey. But seeing your academic goals through to graduation also involves securing adequate financing to support your education. 

Learn how an MPOWER Financing international student loan can help you fund your postgraduate education. 

Schools mentioned in this post do not endorse MPOWER’s loans and MPOWER is not affiliated with the schools noted in this message. 

Budget-friendly ways to enjoy the holiday season in the U.S.

For international students studying abroad on a budget, the holiday season can be an expensive time of year. It might seem impossible to afford gifts and celebrations, and increased travel prices may inhibit you from flying home to see family.

In a season dedicated to community and cheer, it can feel disorienting to be disconnected from loved ones. However, there are ways to navigate this season without breaking the bank or your spirit. Here are five fun, budget-friendly holiday ideas for international students in the U.S.

International student tip: Explore free and affordable local holiday events 

Though it’s hard to miss out on family traditions back home, embrace the opportunity to experience the holidays in the U.S. Many towns and cities host free and affordable holiday events like markets, tree lightings, festivals and parades. These are great places to take in the holiday spirit, try seasonal food and connect with your surrounding community on a budget.

The holiday season is also a perfect time to explore your neighborhood. Take advantage of your time out of the classroom to check out local museums, movie theaters and parks. Be sure to carry your ID with you, as many places offer student discounts.

International student tip: Volunteer 

Volunteering may be the most rewarding affordable holiday activity for international students. It doesn’t cost a thing, and it’s a great opportunity to connect with others over a common cause. 

This holiday season, consider volunteering at a local soup kitchen, charity or place of worship. Serving hot meals or participating in a toy drive can give you a sense of joy and gratitude in what may otherwise feel like a lonely season, helping you manage the holiday stress by centering on what’s really important.

International student tip: Hunt for holiday deals 

The holiday season may be expensive, but most U.S. stores and organizations also offer great holiday deals! You can hunt for bargains at big box stores, local shops or online. Remember to plan ahead: Wisely utilizing holiday discounts can help you maintain your study abroad budget for the year.

Apply for an MPOWER Financing loan if you need help financing your international education. MPOWER offers no-cosigner, no-collateral private loans for international students studying in the U.S. and Canada.

 

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International student tip: Connect with community 

Odds are, you aren’t the only international student staying in the U.S. this holiday season. Even if you don’t observe the same holidays, consider hosting a gathering of friends. Cut costs by having everyone bring their own traditional holiday dish or beverage.

You can also connect with your school’s larger international student community. Check out the international student resources at your MPOWER-eligible school. They likely host free, culturally-specific events for students spending the holidays in the U.S.

Spending time with friends and loved ones is what the holiday season is all about. You can still find meaningful connections and support abroad.

International student tip: Create your own traditions 

Throughout your academic journey, you may spend a few holiday seasons abroad. To make each season more homey than the last, check out these tips for international students looking to create their own, budget-friendly traditions:

• • Decorate your space: Add festive decorations to your living area that are meaningful to you. To avoid expense, try crafting your own.
  • Maintain special rituals: Rituals connect us to our families and cultures, so try to maintain the rituals you had growing up or create new ones with local friends. If you’re missing larger cultural rituals, consider attending a local place of worship or community center.
  • Give yourself something to look forward to: If you routinely struggle during the holiday season, give yourself a gift as a yearly tradition. Whether it’s a fun activity or an item you’ve been coveting all year, give yourself something exciting to help move you through the season.

If you struggle with your mental health over the holidays, remember you’re not alone. Check out your university’s health and counseling resources for support.

International student tip: Prioritize self-care

Take care of yourself this holiday season with affordable, community-oriented activities.

Spending the holidays abroad as an international student can be stressful and expensive. But, with a little intention, they can also be a time for exploration, connection and self-care.

While looking for inexpensive ways to enjoy the holiday season, don’t forget to start budgeting for the next year of your education. Apply for an MPOWER loan today to secure our lowest rates of the year!

International student success story: From Nigeria to George Washington University

Many international students are familiar with the financial challenges of studying abroad. Ibrahim, a student from Nigeria at George Washington University, faced a daunting reality: his scholarship didn’t cover all his needs. This unexpected financial gap threatened his plans to study in the U.S., but he was able to find a solution with MPOWER Financing.

From challenge to the solution

Ibrahim was thrilled when he received his admission to George Washington University. However, he quickly realized his scholarship offer didn’t cover all his expenses. This issue of partial funding is common among international students eager to study abroad, yet full funding is often hard to secure. In his search for a solution, Ibrahim turned to his friends for advice. They introduced him to MPOWER Financing. He was particularly impressed with MPOWER’s no-cosigner and no-collateral loan, a significant advantage since he had no substantial assets to offer as collateral.

Securing the future 

The straightforward terms of MPOWER’s loans provided Ibrahim immediate relief. With fixed monthly payments, he could plan his finances with certainty. This predictability proved invaluable, especially when securing an on-campus job proved difficult during his first semester. The loan covered not only his tuition fees but also his living expenses, ensuring he could continue his studies without financial worry.

Cultural perspectives on credit

Ibrahim says that back in Africa, there’s widespread apprehension about borrowing. Many fear the repercussions of debt, often worrying about repayment. Ibrahim was no exception. MPOWER’s straightforward approach and absence of requirements such as a cosigner, makes funding more accessible for international students.
“Many people don’t really know that a loan can go a long way to assist you in whatever you’re doing,” Ibrahim says.

Advice from Ibrahim on student loans in Nigeria

Reflecting on his experience, Ibrahim now sees MPOWER as an important resource for international students in the U.S. and Canada. He appreciates how MPOWER’s student-friendly policies ease the transition for those new to a foreign land. He has already recommended MPOWER to three close friends, praising its role in helping students concentrate on what truly matters.

“To avoid all those troubles, take a loan, make your life easier. So that you can focus on what really matters, which is graduating with a good grade and getting a job,” he says.

Final thoughts

Ibrahim’s journey from financial uncertainty to stability illustrates the critical role of financing solutions like MPOWER’s student loan. For those facing similar challenges, MPOWER Financing offers a way to overcome challenges and achieve educational aspirations without compromising on academic focus. If you’re ready to take the next step in your educational journey, discover how MPOWER Financing can help you meet your goals. 

 

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How to monitor your credit report while studying abroad in the U.S.

Building a positive credit history in the U.S. can make life a lot easier, especially if you’re planning to stay in the U.S. after you graduate. Without good credit, it can be tough to open a credit card, buy a car, rent an apartment or qualify for low-interest loans. 

Fortunately, there are steps you can take while you study abroad to establish your credit in the U.S., such as obtaining a credit card and paying your student loans on time. Along the way, you can monitor your credit report and score to make sure your efforts are paying off. 

Learn more about how to monitor your credit as an international student, so you can improve your financial health and set yourself up for future success. 

What’s a credit report? 

Your credit report sums up your financial history in the U.S. There are three main credit bureaus that collect information on your personal credit history to generate your credit report — Equifax, Experian and TransUnion. 

Your creditors, such as credit card companies and student loan providers, send information to the credit bureaus about your accounts and payment history. Future lenders review your credit report to assess whether you’re a responsible borrower. 

The information in your credit report can impact your ability to qualify for a loan, rent an apartment and buy insurance. Some companies also check out your credit report when considering whether to hire you for a job. 

What’s a credit score? 

A credit score is a number between 300 and 850 that represents the information on your credit report. Lenders and credit card companies also consider your credit score when you apply for a new account. 

The higher your score, the easier it will be to qualify for loans and access affordable rates and terms. There are several types of credit scoring companies out there, but the one that lenders rely on the most is your FICO score. 

Your FICO score is calculated based on the following categories: 

• • Payment history (35%): Your payment history has the biggest influence on your score. On-time payments on debts will improve your score, while late payments will drag it down. 
  • Amounts owed (30%): If you’re using a lot of the credit available to you, your credit score could go down. It’s generally a good idea to keep your credit utilization below 30%.
  • Length of credit history (15%): It usually takes six months or so of financial activity in the U.S. to generate a FICO score. Having a longer history can help improve your score. You’re not necessarily late to the game as an international student, though, as many domestic students don’t start building credit until college or after. 
  • Credit mix (10%): Having a mix of different types of accounts, such as a credit card and a student loan, can improve your score, as it shows creditors you’re able to handle different kinds of credit. 
  • New credit (10%): Opening a bunch of accounts in a short time can hurt your score, as it can indicate that you may be overextending yourself with borrowing money.

4 ways to monitor your credit in the U.S. 

It takes time to build good credit, but you can monitor your progress along the way. Here are four ways to stay on top of your credit in the U.S. 

1. Review your credit report for free 

You can request a free copy of your credit report on a weekly basis from each of the three credit bureaus at AnnualCreditReport.com. On your credit reports, you’ll get a bird’s-eye view of your various accounts, such as student loans or credit cards. However, your credit report does not show your credit score. 

Review all the information on your report to make sure it’s accurate. Creditors get things wrong sometimes, so it’s possible you could see an error on your report. If you spot a mistake, try disputing it with the credit bureau. You can also call your creditor about the issue. 

Mistakes or unusual accounts on your credit report can also be a sign of identity theft. If you find mysterious accounts in your name. It could be a sign someone has stolen your personal information. In that case, you’ll want to freeze your credit and file a report with the Federal Trade Commission. 

2. Use a free credit monitoring service 

Although your credit report won’t show your credit score, you can find your score elsewhere. For instance, there are several free credit monitoring services you can use to check your scores and monitor them over time. 

Some free credit monitoring services include: 

• • CreditKarma
  • CreditWise from Capital One
  • myFICO (the free plan) 
  • Credit Sesame 
  • Experian’s free credit monitoring

Note that some of these services show your VantageScore, rather than your FICO score. Although the scores will likely be similar, it’s the FICO score that most lenders look at when you apply for a loan or credit card. 

3. Check your scores through your credit card company 

If you have a credit card in the U.S., you may get a free credit score when you sign into your credit card account online or via their mobile app. Many credit card companies will provide your credit score for free and can notify you if they detect changes to your score. 

4. Pay for a credit monitoring plan 

Paying for a credit monitoring plan is also an option if you’re looking for robust identity theft monitoring. However, it’s probably not necessary unless you’re particularly worried about identity theft or have been a victim of it in the past. You can find paid plans from various companies, including: 

• • Experian Identity Works 
  • myFICO Advanced and Premier plans 
  • Identity Guard
  • ID Watchdog
  • Privacy Guard  

Tips for building credit as an international student 

As you monitor your credit in the U.S., here are some steps you can take to improve it over time. 

• • Make on-time payments on your loans: Paying your bills on time is key to building a positive credit history and score. If you borrowed student loans from MPOWER Financing, MPOWER will report your payments to the credit bureaus. On-time payments will generally result in higher credit scores. 
  • Apply for a credit card: Having a credit card can also help you establish credit in the U.S., but try to pay off your balance in full every month. Otherwise, you could end up having to pay hefty interest charges. You may need a Social Security number or Individual Taxpayer Identification Number (ITIN) to apply for a credit card in the U.S. If you can’t qualify for an unsecured credit card, you might have an easier time with a secured credit card, which requires a deposit of funds upfront. 
  • Become an authorized user: If you have a friend or family member in the U.S. with a credit card, consider asking them to add you as an authorized user. You don’t necessarily have to use the card, but their payments can help you establish credit in the U.S. Make sure the cardholder manages credit responsibly, however, or their financial habits could have the opposite effect and harm your credit. 
  • Report your rent and utility payments: Rent and utilities aren’t typically reported to the credit bureaus, but you could sign up for a service to have yours reported. Some services that can help with this include Self, Piñata and Rental Kharma. Experian’s service, Experian Boost, will also take utility bills into account, such as phone, internet, gas and electricity. If you go this route, make sure to pay all your bills on time to avoid damaging your credit.

It usually takes several months to establish a credit score and even longer to build good credit. By paying back your loans on time and managing your finances carefully, you can establish positive credit in the U.S. Review free copies of your credit report on a regular basis and use a credit monitoring service to track your progress and watch your credit score improve over time.

 

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How to budget effectively while studying abroad in Canada

What’s the best way to budget? It’s an age-old question, and the truth is there’s not necessarily one right answer. While approaches to budgeting vary from person to person, no one can argue about its necessity – especially for international students. 

We collected our best budgeting recommendations for students in Canada, so you can make the most of your time abroad and maybe even start saving for future goals along the way!

Understand income and expenses

The first step in creating a budget is knowing how much money you’re making. As an international student, your primary income is probably coming from a combination of family support, personal funds, student loans, scholarships and/or part-time jobs. List them all out! Next, list all of your fixed and variable expenses. A fixed expense stays the same and is paid on a regular basis, something like rent or your internet service payment. A variable expense might also be recurring, but the amount could vary. Think things like transportation, groceries, etc.

Once you understand how much money is coming in versus how much is going out, your budget will start to take shape. 

Set financial goals

Next, you’ll want to identify any financial goals you have. Goals can help you stay motivated during the day-to-day reality of following a budget. Some ideas might be saving up for a new computer, saving to pay off your student loans after graduation, or creating an emergency fund. 

As an international student, it’s easy to feel like you don’t make enough money to set goals – but that’s not true! Contributing as little as CA$10 a month toward a goal can add up in big ways over the long term. 

Pick a budgeting strategy

As you’ll likely find out, it’s easy to have a budget written down on paper, but things are trickier in real life. Being abroad – in a beautiful place like Canada, no less! – is a once-in-a-lifetime experience you don’t want to miss out on. It might feel like a budget is holding you back, but the reality is your budget can give you more freedom to relax and enjoy your surroundings with the knowledge you’re still financially on track. 

So, let’s review some of the popular budgeting options that can help you stay on track: 

• 50/30/20 rule: Allocate 50% of your income to needs (rent, groceries), 30% to wants (entertainment, dining out) and 20% to savings, goals or debt repayment.
• Zero-based budgeting: Every dollar you earn is assigned a job. It doesn’t mean you have to spend all the money you earn. Instead, you have to allocate every penny of your paycheck to a specific bucket, whether it’s paying bills, saving or spending on entertainment.
• International students in Canada can file a Canadian income tax return. Most foreign students are eligible for benefits and tax credits. 

Once you know what strategy fits your lifestyle best, stick with it and track your progress.

Manage your money

Once you know your income, expenses, goals and budgeting strategy, it’s time to make use of the many resources available to international students in Canada to help manage your money. First things first, getting a Canadian bank account is an essential way to track your spending and manage your money while you’re abroad. It can also help you save money by minimizing foreign transaction fees from your home country bank. We recommend checking out TD Bank Canada’s* International Student Package if you need help finding a trusted bank that caters to the needs of international students.

Next, take advantage of financial resources available to you from your school. Many schools in Canada offer financial workshops to help students manage their money better – plus, these events can be a great way to meet like-minded friends committed to being smart with their money. 

Finally, make use of technology! Whether it’s a simple budget tracker spreadsheet or a more comprehensive budgeting app, there are plenty of money management apps available on your computer or smartphone. 

 

Learn more

 

You’re on your way to becoming a budgeting pro!

Budgeting isn’t rocket science if you take the time to understand your income, set goals and use available resources to help. Remember, your budget is never going to be perfect. Things will vary from month to month, and that’s okay. The important thing is that you try your best to stick to your plan, even a little effort goes a long way when it comes to budgeting! 

*MPOWER has referral agreements with TD Bank and may earn referral fees from this relationship.

Networking in Canada: tips for building professional relationships as a student

Having a strong professional network is one of the most helpful tools in finding the career you want after graduation – in addition to your grades, of course. It’s never too soon to start building your network. If you’re on campus in Canada, you’re ready to start networking! Here are our tips for building your professional community as an international student in Canada: 

Start on campus

You don’t have to look far to start networking while you’re abroad. Your university or college is the perfect place to begin building connections for your career. Make sure to attend events like career fairs, workshops or even speaker series. And bring along some cards with your contact information so the people you meet can easily stay in touch with you. A lot of schools also have clubs or associations where you can meet students and alumni in your desired field or with your same cultural background. You might also consider developing relationships with professors you particularly admire and who work in your future field. Professors in particular can act as great references for you when looking for a postgraduation job.

Use LinkedIn to your advantage

LinkedIn isn’t just another social media site – it’s a powerful tool for building your professional presence and network. So make sure your profile includes a professional headshot (your school’s career office can help you with this), updated academic and job information, and contact information. You’ll also want to write a thoughtful bio for your LinkedIn page that introduces you to people and lets them know about your career aspirations. 

Not sure where to start on LinkedIn? Try searching for classmates and professors first. Then you can look to join relevant LinkedIn groups related to your major or industry or follow companies you might want to work at someday. That way, you can stay updated on company news, events or potential hiring opportunities. 

Attend industry events and conferences

If you’re attending school in a Canadian city or large town, you can attend local industry networking events or conferences. Some events and conferences may offer student discounts, so keep an eye out for that. It might be helpful to attend an event like this with a friend in your same major so you don’t feel intimidated. 

Schedule informational interviews

An informational interview is a conversation with a professional in your field who helps you learn more about their career path and the industry in general. Remember – an informational interview is not about asking for a job! It’s about gaining insight and advice and adding someone new to your professional network. Reach out to alumni or industry professionals on LinkedIn politely asking if they’d be willing to chat with you about their careers. This is one of the best ways to expand your network and gain valuable career guidance.

Tip: Always send a thank you note after an informational interview! 

You’re ready to network!

Networking can sometimes feel like an intimidating process, especially for international students in a new culture. Remember, it’s nothing more than connecting with people who share your same academic interests or career aspirations. The best connections are authentic ones, whether you make them on campus, online or in your school’s community. 

One more thing

If you’re in the process of looking for a job as an international student, you’ll want to make sure you have an in-country bank account set up prior to accepting any roles. This will make it easier for your employer to pay you, and it’ll make it easier for you to manage your money. Not sure where to start? Check out TD Bank Canada’s* International Student Package for exclusive benefits tailored to your needs.

Learn more

*MPOWER has referral agreements with TD Bank and may earn referral fees from this relationship.

Act Now! MPOWER’s fall 2025 early planner promotion

MPOWER’s early planner promotion ended January 31, 2025. To learn more about our current interest-rates please visit our get a loan page.

Getting ready for the fall 2025 semester? MPOWER Financing has a special promotion just for you! Enjoy interest rates starting as low as 9.99% (10.89% APR)*. This limited-time deal is perfect for early planners who enjoy being rewarded for thinking ahead! 

Apply now with MPOWER’s lightning speed application process to secure a loan with our current special rates starting as low as 9.99% (10.89% APR)*.

 

Apply Now

 

Why MPOWER Financing

MPOWER is committed to empowering students worldwide, offering unique visa support, as well as career and financial service benefits that make us a preferred choice. Our loans come with fixed rates allowing you to borrow from US$2,001 to US$100,000 without a cosigner or collateral. This means you have the freedom to take out a loan in your name alone. With a list of over 500 eligible universities across the U.S. and Canada, MPOWER opens doors to world-class education. 

To qualify for an MPOWER loan, you must be admitted to or attending one of our eligible schools, be expected to graduate within two years of the loan start date or within 2 years of graduation. Our goal is to make education accessible and reduce financial stress, so you can focus on what truly matters – your academic success!

MPOWER’s Path2Success program

Beyond our special promotion, MPOWER offers visa & career services to guide students throughout their entire journey.

MPOWER’s exclusive services for all loan recipients include:

Visa support

We help students understand and navigate elements of the F-1 visa process, including their visa interview.

Our visa support services include:

• • A free visa support letter
  • A free Visa Essentials preparation course from our trusted partner, Catalyst GEM

Career services

We recognize the significance of securing a professional career in the United States. Students are not alone in this journey – MPOWER Financing is here to support you every step of the way.
We’ve partnered with F1 Hire to offer exclusive career services, including:

• • A guided internship and job search for OPT and H-1B visa-sponsored roles
  • A resume builder to match targeted job requirements
  • Job application support with profile and skill set match
  • A directory of F-1 eligible job roles for STEM and non-STEM degrees

MPOWER’s early planner promotion 

The early planner promotion is available exclusively for fall 2025 applicants. Remember, applications must be submitted by January 31, 2025 to qualify for this promotion.

If you meet the criteria and are ready to apply, simply click below to begin!

 

Apply Now

 

*Rates as low as 9.99% (10.89% APR). This interest rate and APR includes a 0.25% discount for automatic recurring payments.

Internships in Canada: Legal FAQs for international students

Internships are a fantastic way to jumpstart your career and begin building your professional network while you’re studying abroad in Canada. But before you start applying to or accepting internship offers, you’ll want to make sure you know about Canadian internship laws and requirements and how they specifically apply to your unique needs as an international student. 

Here are some common questions you might want answers to before you start seeking an internship: 

Can international students participate in internship or co-op programs while abroad?

The short answer is yes – but it depends on your academic program. In Canada, working while studying abroad requires both a co-op work permit and a study permit. According to the government of Canada, in order to get a work permit, you must prove that the work experience is essential to completing your academic program. Some schools, for example, may require the completion of an internship or co-op program to be eligible for graduation. You must also prove that your internship program totals 50% or less of your study program. To ensure full legal compliance, consult with your school or an immigration specialist for any specific questions related to your study permit in Canada.

You can learn more about Canadian co-op work permits.

What legal protections exist for international students regarding unpaid internships?

In general, Canadian law prohibits unpaid internships. But there’s one big exception to this rule – student internships. So, if you’re currently enrolled in an academic program and looking for an internship, you’ll likely come across both paid and unpaid positions. Make sure you choose the right internship for your financial needs. And remember, both paid and unpaid internships in Canada are eligible for things like breaks during the workday. Before accepting an unpaid internship, it’s a good idea to look up the specific regulations in the province of your school. 

What about paid internships?

In general, paid student interns in Canada are subject to the same provincial labor laws and rights as other workers. This includes rights surrounding minimum wage, overtime pay and workplace safety. Again, it’s a good idea to look up specific labor laws regarding internships in the province of your school. 

For students seeking out or currently working a paid internship, it’s a good idea to open a Canadian bank account so you can be paid via direct deposit (which is the norm for most employers) and manage the money you make. Some banks, like TD Bank Canada*, even offer specific programs and incentives for international students. 

 

Learn more

 

Keep up to date with legal requirements

Knowing your legal rights and requirements as an international student is key to finding and succeeding at your next internship or co-op. So make sure you have the right permits, and brush up on your provincial laws if you have any questions regarding a paid or unpaid role. Remember, internships are an incredible opportunity to gain experience and connections in your academic field. So your efforts will be worth it, paid or not. Happy interning! 

*MPOWER has referral agreements with TD Bank and may earn referral fees from this relationship.

Canadian workplace culture: A guide for international students

Whether you plan to work in Canada while you’re attending classes, after you graduate, or both, at some point you’ll need to know what to expect from Canadian workplace culture! Just like the cultural differences you’ve likely noticed in other areas of life while abroad, there might be cultural differences between professional expectations in Canada and your home country. 

But don’t worry! We’ve got you covered with a guide on Canadian workplace culture – from basic expectations and communications to management styles. 

The basics

It won’t be surprising to hear that the foundation of Canadian professional culture is respect. So whether you’re interviewing or showing up for day one of your new job, be sure to speak to colleagues and superiors in a respectful, friendly tone. Speak to them as you would a professor or another person who you admire. 

When meeting new colleagues, a handshake is often expected. But that should be the only form of physical contact required in your workplace. Canadians also value punctuality – so make sure to be on time to the office every day and/or to your meetings. Make this your new mantra: if you’re not five minutes early, you’re late! 

While dress code varies in different industries, being overdressed is never a bad thing. Most Canadian workplaces expect their employees to show up in clean, modest, business casual attire. Some types of businesses, like creative agencies or startups, may be okay with more casual or artistic attire. But make sure you know for sure what’s appropriate and allowed before you start pushing any fashion boundaries at work! 

In Canada, like in many other Western countries, you’ll generally be paid biweekly – which means every two weeks. During your onboarding, you’ll likely need to provide a voided check and bank account details to ensure your new employer can pay you via direct deposit (your salary or wages go directly into your bank account every payment cycle). Because of this, it’s a good idea to open a Canadian bank account before you start work. Our partner TD Bank Canada* offers checking and savings accounts designed for international students. 

 

Learn more

 

Communications

Your Canadian colleagues will likely value politeness and directness in their communications with you. Canada’s culture in general is highly courteous, so be sure to express your thanks whenever you can and be kind to your colleagues by asking thoughtful questions. Remember, to be kind and polite you don’t need to cross personal boundaries. Asking people about their weekend plans (or similar types of questions) is a great way to politely show curiosity without asking for too much detail about their personal lives. 

Canadians also tend to be very direct communicators. They will tell you in straightforward terms what you’re doing well and what still needs improvement. This is a good approach for you to take in your work communications, too. Ask direct questions and state your perspective in clear terms. But remember, directness shouldn’t come at the expense of politeness. 

Collaboration is another key value of many Canadian workplaces. This means that the expectation is to work together to solve problems and to seek input from other teams when needed. Just like in a school group project, you’ll need to work with different types of people and know how to communicate with all of them to be successful! 

Management styles

Management style refers to how a company is managed and supported by its leadership team. In Canada, most employers (though not all) tend to favor flat or collaborative organizational management. This means rather than working in a hierarchical structure with a clear chain of command, you’ll likely be collaborating often with company leaders and speaking directly with them. While they’re still your superiors and you report to them, this structure encourages staff at all levels to share ideas, brainstorm and work together to achieve common organizational goals. 

This means you’ll need to show up to work ready to collaborate, share your ideas, and take initiative over projects. Of course, your Canadian co-workers will be more than happy to support you along the way with their characteristic politeness. 

Be curious and pay attention to onboarding materials

Keep in mind that company culture is highly unique and varies from company to company in Canada. You can still prepare! The tips in this article will help you succeed no matter what job you land. During your company’s onboarding, they’ll share more details with you about their specific culture and expectations, so our final tip is to pay attention during your first few days so you don’t miss anything important!

*MPOWER has referral agreements with TD Bank and may earn referral fees from this relationship.