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Top 10 reasons to choose Canadian universities for higher education

Canada is a top destination for international students, and it’s easy to see why. With impressive academic institutions, a diverse population, and excellent career opportunities, studying in Canada is truly an investment in your future. Here are our top 10 reasons: 

1. World-class education

Canadian universities consistently rank among the top in the world. Schools like the University of Toronto, McGill University and the University of British Columbia are renowned for their academic excellence. According to QS World University Rankings 2024, 11 Canadian universities are in the global top 250.

2. More affordable tuition

Compared to other popular study abroad destinations like the U.S. and the U.K., Canada offers more affordable tuition rates. International graduate tuition averages CA$20,548 per year, making it a cost-effective choice for quality education.

3. In Canada, it’s easy to work while you study

If you’re planning to work while you study abroad to earn some income, you’re in luck. Canada allows international students to work up to 24 hours per week during semesters and full time during breaks. In other countries like the U.S., working as an international student may have more requirements depending on your visa type. 

4. Postgraduation career options

Canada’s post-graduation work permit (PGWP) allows international students to work in the country for up to three years after graduation. This is a great pathway to gaining Canadian work experience and potentially apply for permanent residency in the future. 

5. Canada is highly diverse

It’s one of the most multicultural countries in the world, with over 200 different ethnicities. This is great news for international students because chances are you’ll be able to find friends and communities in Canada that feel connected to your home country. 

6. Safe and peaceful culture

In 2024, Canada placed 11th on the Global Peace Index, making it one of the safest countries in the world. In general, Canada has very low crime rates and legislation that ensures all people are treated equally – including international students.

7. Cutting-edge research opportunities

Many of the top universities in Canada are also worldwide leaders in research. Canada ranks among the top 10 countries in the world for scientific impact. Students in specific degree programs, like environmental science or engineering, can get the chance to work on these groundbreaking research projects – opening the door to potential career opportunities in the future.

8. Beautiful campuses and nature

As if the academics, culture and career opportunities weren’t enough, Canada is a naturally stunning country full of mountains, lakes and other breathtaking scenery. This means beautiful college campuses and access to outdoor activities year-round.

9. Global recognition

A degree from a Canadian university is highly respected worldwide, just like a degree from the U.S. or U.K. Canadian graduates are often sought after by employers for the reasons we outlined above – impressive academics and cutting-edge research opportunities.

10. Support for international students

Lastly, Canada truly prioritizes its international student population. The government, for example, makes the study abroad visa process more seamless than in similar countries like the U.S. 

Colleges and universities across Canada offer resources for their international student population, helping you feel supported on campus even when you’re thousands of miles away from home. Businesses also offer products, services and discounts specifically for international students. TD Bank,* for example, offers a student banking package designed to help you take the first step toward your financial future in Canada.

 

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Is Canada right for you?

The numbers don’t lie – Canada is a welcoming and inclusive place for students from all over the world. In 2022, more than 800,000 international students studied in Canada. And with the 10 reasons we outlined above, it’s easy to see why. Overall, if you value a blend of academic excellence, affordability and cultural diversity, Canada might be the country for you. 

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

5 tips for balancing work and school as an international student in Canada

International students choose to study abroad in Canada for the amazing academic opportunities the country offers – so it makes sense that academics would be your number one priority while studying abroad. But the truth is, many international students find part-time employment when they’re abroad to help cover expenses, gain experience, and build toward their financial future. So, how do you balance your job with your classes? We’ve got five tips.

1. Create a schedule and stay organized

When it comes to balancing work and academics, staying organized is extremely important. Over a week, you’ll be attending multiple classes, managing deadlines and working various shifts with your employer. Tools like Google Calendar can help you plan your week and stay one step ahead of what’s coming next in your schedule. When you do have free time, try to dedicate specific hours for studying and homework. Most days, your schedule will be pretty full, so make sure to keep all your course materials – like your syllabus, notebooks and textbooks – in one place so they’re easy to find when you need them.

2. Communicate with your employer

Most employers in Canada, especially those that employ students, understand the academic demands you’re also balancing. Canada allows international students to work up to 24 hours per week during the semester – but this doesn’t mean you have to work all 24 hours! Consider starting with fewer hours if you know your academic workload is going to be heavy. 

3. Take advantage of available resources

Turn to your campus community first if you need support balancing your work and school responsibilities. A lot of schools offer resources to help, like academic advisors, tutoring and potentially even time management workshops. And here’s a pro tip, in case you didn’t already know: Your school might have an on-campus job board with student-friendly roles. This is a great first place to look for a job. 

Another way to make your work life easier is to sign up for a Canadian bank account. This will make direct payments from your employer simple and help you manage your spending without incurring costly international transfer fees. Connect with financial advisors at TD Bank* to start your financial journey in Canada.

 

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4. Use your commute wisely

Don’t let your commute time go to waste. If you need to take the train/bus or even take a long walk to your job or classes, use that time productively to review your notes, listen to lectures and plan your day. 

5. Don’t forget self-care

Like we said earlier, balancing a job and a full course load is going to make you feel pretty busy. It sounds cliche, but you need to make time for self-care within your hectic schedule. Sleep well, eat healthy meals, and allow yourself to relax when you have the ability. Taking short breaks while studying is also a great idea – not only will it help you rest, it will help you study more productively.  Remember it’s okay to decline extra work shifts or social invites if you’re feeling overwhelmed. You’re studying abroad to benefit your future, so make sure to protect your time and energy to focus on what matters most. 

Putting it all together

By staying organized, communicating with your employer, taking advantage of campus resources, using your commute wisely and prioritizing self-care, you’ll be on your way to confidently managing your work schedule with your academic course load. And remember, you’re not alone. Many other students find part-time work while they’re in college, so chances are the friends you’ve made or hope to make are also balancing work with their studies. Friends who understand what you’re going through are one of the most important ways to stay connected and feel supported. You’ve got this.

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

Navigating successful visa approval for Canadian studies with MPOWER Financing

Planning to study in Canada requires a deep understanding of the visa application process. Choosing MPOWER Financing can support your chances of approval, making a substantial difference in your journey to studying abroad.

At MPOWER Financing, we offer visa support through our Path2Success program to assist in your matriculation abroad. Obtaining an MPOWER loan does not negatively impact your Canadian study permit application. On the contrary, demonstrating financial stability through an MPOWER loan can be a valuable asset, showcasing your preparedness and commitment to pursuing education in Canada. Learn the required steps to secure a Canadian study permit and how MPOWER Financing can be a pivotal factor in your educational journey. 

Understanding the Canadian study permit process 

Get accepted by a Designated Learning Institution (DLI) 

Your path to studying in Canada starts by gaining acceptance to a DLI. This first step is essential as it forms the foundation of your study visa application, showcasing your intent to pursue education in a recognized Canadian institution.

Complete the online study permit application 

Processing your study permit application takes place through the Immigration, Refugees and Citizenship Canada (IRCC) website. You’ll be required to provide several documents: 

Attend a biometric appointment and interview 

The visa application process may require recording your biometrics and attending an interview, depending on your individual circumstances. These steps are vital for validating your identity and assessing your application.

How MPOWER Financing can help with your study permit and visa

When approved for an MPOWER loan, you receive a visa support letter to attach to your application. This letter outlines:

BorderPass partnership 

We’ve joined hands with BorderPass to simplify your immigration process and boost your study permit approval chances. Access reliable advice from Canadian lawyers through this partnership. Plus, enjoy our exclusive discounted rate for their services at CAD$350/US$275.

MPOWER’s 500+ eligible schools 

MPOWER works with 500+ eligible schools. MPOWER disburses loan funds directly to these schools once you have your study permit. These schools accept funds for tuition and other invoiced expenses. Here are a few of the current MPOWER-eligible schools in Toronto, Canada.

Ready to begin your education in Canada? Discover MPOWER Financing for your study abroad plans!

 

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How Afia Fahmida Rahman pursued quantum science at Columbia University

Studying abroad offers both challenges and opportunities. For Afia Fahmida Rahman from Bangladesh, her dream came true through determination and the help of MPOWER Financing. Her journey to a master’s in quantum science and technology at Columbia University* shows the importance of accessible financial support.

Afia’s passion for quantum computing drove her worldwide search for advanced programs. Columbia University, one of MPOWER Financing’s eligible schools, piqued her interest due to its innovative curriculum combining theory and hands-on experience and connections to the quantum industry. Afia’s university choice and major was key to realizing her career goals.

Discovering MPOWER Financing for financial support

Afia’s path to MPOWER began soon after her acceptance to Columbia University. She emailed the school about financial aid services, and Columbia pointed her to MPOWER as a helpful resource for international student loans. “It was very easy to apply, and my entire relationship and journey with MPOWER so far has been very smooth,” Afia says. 

Afia found the process similar to answering personality test questions with minimal documentation requirements. She also says the fast responses from her relationship manager kept her focused on study prep instead of financial stress. Afia wholeheartedly recommends MPOWER to aspiring students. Her empowering advice: pursue your goals with every available resource.

Getting an F-1 visa is essential for international students. During her visa interview, Afia confidently said that her loan through MPOWER Financing would cover most of her expenses, with the remainder through help from her family. The well-recognized reliability of MPOWER loans made the interview smooth and her visa was approved..

Your next step to studying abroad in the U.S. 

Afia’s journey demonstrates the importance of resources like MPOWER Financing in making higher education accessible worldwide. With MPOWER, students manage both financial and educational challenges. Advanced education and exciting careers can be yours, too. With determination and the right support, like Afia, you can bridge the gap between dreams and reality. MPOWER makes quality education accessible by removing financial barriers for students globally. MPOWER is here to support your postgraduate academic aspirations.

 

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*Columbia University does not endorse MPOWER’s loans, and MPOWER is not affiliated with Columbia University.

4 ways international women can pay for studying abroad

Studying abroad opens endless possibilities, especially for international women in STEM and other specialized fields. Many women face significant challenges in their home countries, including limited access to higher education, societal pressures and underrepresentation in key industries. However, funding an international education remains a major hurdle for many women dreaming of studying abroad in the United States and Canada.

Why do international students want to study abroad? 

Studying abroad offers the chance to gain a world-class education while experiencing new cultures and building a global professional network. It can be a transformative experience for women from countries where access to higher education or specialized fields is limited. Beyond academics, studying abroad fosters personal growth, independence and confidence – making it a powerful stepping stone for women striving to become leaders in their communities and industries.

According to the Institute of International Education’s 2024 Open Doors Report, roughly 1.1 million international students from more than 210 places of origin studied at U.S. higher education institutions for the 2023-24 academic year. The majority of these international students pursued STEM fields, followed by business and management.

Thanks to targeted initiatives encouraging female participation in these traditionally male-dominated areas, women have increased access to academic programs and funding opportunities to help make their dream of studying abroad a reality.

Encouragingly, the National Center for Science and Engineering Statistics (NCSES) report found that women earned nearly half of all science and engineering degrees in 2020, including 50% of bachelor’s, 49% of associate’s, 46% of master’s and 41% of doctoral degrees.  Here are a few ways that international women are funding their study abroad journey.

Funding options for international women studying abroad 

Paying for an international education isn’t cheap. But several options are available to help international women achieve their goals. Here are the most common funding sources for international women in STEM and other popular programs:

Personal and family savings 

Most international students rely on family funds as their primary source of funding. However, this isn’t feasible for everyone, especially long-term programs in high-cost countries.

Fellowships and scholarships for women 

Many universities and organizations offer fellowships or scholarships for international women in STEM fields, business, and other high-demand areas. Here are a few to research:


Note that MPOWER also offers a variety of international student scholarships, including unique monthly scholarship opportunities.

Research and teaching assistantships 

Graduate assistantships are a highly sought-after position. They can be a great way to receive a tuition waiver or stipend (or both). However, teaching and research assistantships are awarded by department. So, interested students should make contact with their program and become friendly with faculty members to increase odds of selection.

Study abroad student loans 

Unfortunately, most international students aren’t eligible for federal financial aid, such as federal student loans. It can also be hard to secure private financing if you don’t have a cosigner who’s a U.S. citizen or permanent resident. Fortunately, some private lenders, like MPOWER Financing, offer international graduate student loans without a cosigner or collateral.

MPOWER provides competitive fixed-rate loans from US$2,001 to US$100,000 to cover up to 100% of education expenses, including room and board. Additionally, MPOWER provides visa support and career services to round out a student’s study abroad experience.

 

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Start planning for study abroad education 

Studying abroad can be a life-changing experience. But it requires careful planning when it comes to funding. With the right financial tools and resources, international women can make a lasting impact in their chosen fields.

That’s where MPOWER Financing can be an invaluable resource. From study abroad student loans to career support, we’re dedicated to empowering international students to achieve their educational dreams.

Boaz Leleina: From Kenya to Silicon Valley

Boaz Leleina comes from a small village  in Samburu, Kenya. Life there is traditional, with little exposure to technology. Things changed for Boaz at Ndururumo High School where he first used a computer. This sparked his love for technology and set him on a life-changing path.

Opportunity through MPOWER Financing and International Scholars Program

Boaz studied computer science at KCA University in Kenya but knew he wanted to take his education further. His postgraduate educational journey overseas became possible with the help of funding from MPOWER Financing and support through the International Scholars Program, an education financing platform assisting top postgrad students seeking to study abroad. These resources provided the support he needed to enroll in a master’s program at William Jessup University in Silicon Valley. Boaz accessed resources that helped him transition smoothly into his new academic life abroad.

MPOWER Financing is the leading fintech company empowering international students like Boaz to attend universities in the U.S. and Canada through loans, scholarships and its Path2Success program providing free access to exclusive career, visa and financial resources. Former international students founded MPOWER to help promising students from around the world study abroad.

 

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Boaz’s study abroad journey in the U.S. 

In Silicon Valley, Boaz is pursuing a Master of Science in Computer Science, focusing on artificial intelligence and machine learning. He aims to develop smart solutions to tackle issues in Kenya such as agricultural efficiency and climate change. This education is not just about personal advancement; it’s about equipping himself with the skills to make a positive impact on his community.

Impact on his family back home in Kenya 

Boaz’s success is celebrated by his family and community in Kenya. They see his achievements as a beacon of hope and a testament to what determination and opportunity can achieve. The community supports his efforts, recognizing that his progress can inspire others, pave the way for more educational opportunities, and even improve the lives of his relatives at home.

Boaz Leleina’s journey from a small village to a thriving tech hub demonstrates how education, coupled with the right support, can change lives. He’s an inspiration to other young people to pursue their dreams, too. 

Considering studying in the U.S.? MPOWER Financing might be the key to helping your study abroad goals become a reality.

 

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International study programs: Finance

A finance degree can be parlayed into a lucrative career in just about any industry, making it a popular study abroad choice for international students. Discover the benefits of an international education in finance, as well as popular places to study abroad and potential careers after graduation.

What’s an international study program in finance like?

An international study program in finance teaches students how to turn economic theory into actionable solutions in investment and banking. Finance majors learn how markets function, how organizations direct funds and how to create financial plans.

Your study abroad program in finance may include courses such as:

Why is finance a good study abroad major for international students?

In 2023, business and management programs like finance attracted nearly 160,000 international students from across the globe. Here are some of the reasons international study programs in finance are so popular:

  1. Job security: The Bureau of Labor Statistics predicts employment in finance occupations will grow faster than the average over the next decade, with certain careers, like personal financial advising, growing as much as 17%. 
  2. Global perspective: International study programs in finance give students a sense of how markets and businesses function outside of their home countries, helping them develop insight into our increasingly globalized economy.
  3. Strong return on investment (ROI): According to the Education Data Initiative, a recent finance graduate will likely earn back what they spent on their degree after only five years in the workforce and may earn a lifelong total of over US$10,000,000.

Place to study abroad: What country is best for an international education in finance?

The U.S., home to many of the world’s top business schools, most powerful investment firms, and largest banks, is the best destination for an international study program in finance. 

MPOWER loans are eligible at all of the U.S.’s most prestigious business schools, from Harvard University to the Massachusetts Institute of Technology. To start your education in the finance capital of the world, check out MPOWER’s network of 500+ eligible schools.

How MPOWER helps finance your international study program

The upfront cost of an international education in finance can be daunting. With an MPOWER international student loan, customers can borrow up to US$100,000 without a cosigner or collateral to cover education costs.

MPOWER customers also benefit from MPOWER’s Path2Success Program. From visa support before your education begins to career support after your education ends, MPOWER is with you every step of your study abroad journey.

Want to know if you qualify for an MPOWER loan? Check your eligibility today.

 

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Five MPOWER-eligible international study programs in finance

It can be hard to decide where to study abroad, but MPOWER’s eligible schools list can help. Evaluated for strong graduation rates and alumni earnings, all MPOWER-eligible schools offer plentiful resources and strong student outcomes.

Here are some of the best places to study finance abroad:*

  1. Boston College
  2. The University of Massachusetts Amherst
  3. Michigan State University
  4. University of Texas at Dallas
  5. Hult International Business School

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

Which U.S. universities give the most financial aid to international students?

MPOWER loans are accepted at the 20 U.S. schools offering the most international student aid. Some of these schools, like Stanford, also have prestigious finance programs in the world.

Three jobs you can secure after an international study program in finance

1. Financial analyst

Annual base pay: US$63,000-US$99,000

Financial analysts help businesses and individuals manage their funds. They assess economic trends and recommend investment portfolios. They must have strong data analysis skills and understand how regulations and policies can affect investments.

2. Loan officer

Annual base pay: US$67,000-US$122,000

Your international study program in finance will prepare you for a career overseeing the loan approval process. Working for a bank or independent lender, loan officers evaluate loan applications and determine which products may be a good fit.

3. Branch manager

Annual base pay: US$60,000-US$95,000

Branch managers run all the operations of a bank branch, from onboarding staff to overseeing the approval of loans. They also make plans to ensure the branch meets its financial targets.

Final thoughts: International study programs in finance

If you want to provide the keen financial insight that determines the success of a company, then an international study program in finance may be right for you.

To make this study abroad dream a reality, MPOWER has you covered. Learn what MPOWER Financing student loans can do for you.

Graduate studies in Canada: Choosing the right program for you

Every year, Canada ranks as one of the top destinations for international students. Students are drawn to Canada’s world-class academic institutions, diverse cultural offerings and vibrant student life.

If you’re looking to pursue an international graduate program in Canada, an MPOWER student loan for Canada can open the door to an enriching educational experience. Read on to learn the best study programs and universities you can explore with a Canada student loan.

Why study internationally in Canada?

In 2023, over 1 million international students chose to study in Canada. Here are some of the reasons studying abroad in Canada is so popular: 

  1. High-quality academics: Canada boasts one of the best education systems in the world, with over 200 universities to choose from and a diversity of degree programs.
  2. English-speaking country: With more affordable tuition rates and living expenses than the U.S., U.K. and Australia, Canada is a great option for those who want to improve their English on a budget.
  3. Friendly work policies: International students can work up to 24 hours per week without a work permit during their studies, as long as they meet certain criteria.

Best graduate study programs to pursue with a Canadian student loan

1. Computer science

Computer science is a great study abroad program for creative problem solvers interested in developing cutting-edge technologies. As a country with a growing economy and many multinational corporations, computer science graduates are in high demand.

2. Business

Business and administration is by far the most popular degree program for international students in Canada. With one of the fastest-growing economies globally and a strong financial sector, Canada is an excellent place to start your career in business.

3. Engineering 

Canadian loans for international students can fund your study abroad program in engineering, which will give you the skills to lead innovation and improve your society. Large Canadian employers of engineering graduates include PCL Constructions, Pratt & Whitney Canada, and Salesforce.

How can I study internationally with a Canadian student loan from MPOWER?

Despite Canada’s relative affordability, earning a graduate degree in Canada is still a major expense. MPOWER can reduce the financial burden of your international education with one of its student loans for Canada.

How much does it cost to study internationally in Canada?

On average, a Canadian postgraduate degree costs CA$16,000-CA$30,000 per year and can run as high as CA$40,000 per year. Prices vary depending on the study program and region. For instance, tuition tends to be cheaper in Alberta.

How MPOWER helps international students with Canadian student loans

If you don’t have a credit history or an available cosigner, it can be hard to secure the funding for your international education. Luckily, MPOWER cares more about your future potential than your financial circumstances.

You can borrow up to US$100,000 from MPOWER without needing a cosigner or collateral. MPOWER’s Canadian loans for international students have fixed, competitive interest rates, 10-year repayment plans and no prepayment penalty, so you can worry less about your finances and focus more on your academic success.

Because MPOWER wants to see you succeed, all MPOWER customers gain access to MPOWER’s Path2Success program, which will guide you through the Canadian study permit process with a loan acceptance letter and a visa prep course. MPOWER can even connect you with Canadian immigration experts through BorderPass, ensuring your study abroad journey starts off without a hitch.

To get started and gain access to all the financial, travel and professional support MPOWER has to offer, check your loan eligibility today.

Using your Canadian student loan: Five affordable, MPOWER-eligible Canadian universities* for international students

MPOWER student loans for Canada are accepted at almost all of Canada’s top 20 universities, as well as all of the following affordable universities:

1. University of Calgary

Graduate tuition for international students: CA$8,081.04

2. University of Alberta

Graduate tuition for international students: CA$10,017.84 

3. University of Saskatchewan

Graduate tuition for international students: CA$11,650.50 

4. University of New Brunswick

Tuition varies by program. A master’s in computer science, for example, costs CA$3,020 per course, and requires a total of 10 courses.

5. University of Waterloo

Tuition varies by program. A master’s in electrical and chemical engineering, for example, costs CA$7,696 per term and requires  a total of four to eight terms.

*Schools mentioned in this post do not endorse MPOWER’s loans and MPOWER is not affiliated with the schools noted in this message. University pricing was collected in January 2025.

Final thoughts: Studying abroad with a Canadian student loan

Canada’s welcoming academic and professional environments make it a magnet for international students. Its affordable universities and generous work policies make the dream of studying in Canada financially feasible, but if you need extra funds to make that dream a reality, a Canadian loan for international students from MPOWER can take you the rest of the way there.

Receive a quick, conditional offer from MPOWER for up to US$100,000 to cover costs at your dream Canadian university. Getting started takes less than a minute.

Budget management for new semester: A guide for international students

One of the most important (and overwhelming) parts of starting a new semester in the United States or Canada is coming up with a smart study abroad budgeting plan. Creating a solid budget in advance can ensure a smoother transition for international students, allowing for a more enjoyable study abroad experience.

How much should I budget for study abroad? 

Study abroad costs for international students vary significantly depending on the university and city you’ll be studying and living in. Therefore, student budgeting should account for all potential expenses, including:


Use your university’s cost of attendance as a starting point for calculating your study abroad budgeting needs. Keep in mind that colleges tend to underestimate true costs. So, it’s best practice to overestimate your expenses to ensure ample funds are available throughout the year.

How do students afford to study abroad? 

According to the Institute of International Education’s 2024 Open Doors Report, over 54% of international students primarily rely on personal and family funds to pay for higher education in the U.S. Fortunately, there are many ways to help ease the burden, including applying for international scholarships and finding a research or teaching assistantship with your university. As an F-1 student, you can supplement your income with a part-time on-campus job or look into international internship opportunities that meet work visa requirements.

An international student loan can also help fund your study abroad education. MPOWER Financing offers funding for up to 100% of education expenses, including living expenses, for eligible schools in North America.

 

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Study abroad budgeting tips for new international students 

Here are some practical budgeting tips for students new to the U.S. or Canada.

  1. Make smart housing choices. Compare on-campus and off-campus housing options. On-campus housing often comes with the benefit of included utilities. Plus, it’ll be cheaper to get to class. But you might find lower rent off campus. Just be sure to factor in expenses like electricity, internet and commuting costs.
  2. Use public transportation or buy a bike. If you’re studying in a major U.S. city, like New York City or Vancouver, you likely have access to reliable and affordable transit systems. However, if public transit isn’t readily available, investing in a bike (and lock) can be a budget-friendly option for short commutes.
  3. Track food spending. Dining out is almost a way of life in North America. Your food budget can quickly spiral out of control between tipping customs and the sheer availability of fast food items. To save money, cook meals at home or use the university meal plan if you’re already paying for it. Be sure to check out local international grocery stores, which often offer pantry staples at a lower price.
  4. Take advantage of free activities. Most universities host free events, from movie nights to cultural festivals. Join a club or check your school’s events calendar regularly to stay in the loop. You can also search for free entry for students to museums and other entertainment venues in your local area.
  5. Use university resources. Most schools offer free or discounted services for students, such as access to gyms, pools, medical services, mental health counseling and professional workshops. So, always look within your university before assuming you’ll need to pay for services elsewhere.

Budgeting tips for students returning to school in the U.S. or Canada 

As a returning international student, you’ve likely settled in and can now reflect on previous semesters. Use this information to identify where you overspent or underestimated costs to refine your study abroad budgeting plan. Additionally, you’ll want to think about: 

  1. Planning for visitors. Friends and family might want to visit to explore your new home. Be prepared for higher spending during their stay, such as dining out and sightseeing costs. Look for opportunities to save money by choosing low-cost activities, like hiking or visiting public museums.
  2. Creating a safety net. You probably planned for essentials when you first arrived. But life is unpredictable, so setting aside funds for emergencies is necessary. Whether replacing a stolen laptop, dealing with unexpected medical expenses or simply overspending on your study abroad adventure, having an intentional financial buffer can reduce stress overall.
  3. Using student discounts. This is one of the most overlooked budgeting tips for students. Your student ID can unlock discounts with many retailers, transit systems and entertainment venues. So, always carry your student ID and ask if a student discount is available before paying for anything.

The importance of budgeting for college students 

A little time and effort spent study-abroad-budgeting now could save you big time throughout your international education. By planning for key expenses and seeking out funding opportunities – such as international scholarships and study abroad student loans – you can focus on enjoying your time abroad. And remember, your budget is meant to be a tool, not a source of stress. It will take time to adjust and figure out what you do and don’t need when starting a new semester in the U.S. or Canada.

Maximizing your F-1 visa: A guide to CPT and OPT opportunities

Figuring out how to navigate U.S. student visa and work restrictions is essential to making the most of your study abroad experience. As an F-1 visa holder, you can work on campus part time during the academic year and full time during holidays and breaks. After your first academic year, you can access two off-campus work authorization options: Curricular Practical Training (CPT) and Optional Practical Training (OPT). A 24-month extension – called the STEM OPT Extension – is also available to international students who receive science, technology, engineering and mathematics degrees. Keep reading to learn how to maximize CPT and OPT opportunities while staying compliant with student visa work restrictions.

CPT vs. OPT: Understanding the basics for student visa work restrictions 

CPT and OPT offer opportunities for international students to gain valuable work experience. However, they differ in purpose, eligibility and restrictions. 

Curricular Practical Training is designed to gain practical training through internships or cooperative education. CPT for international students is available after your first academic year – unless you’re a graduate student whose program requires a certain type of experience. To be eligible, the CPT opportunity must be:


Optional Practical Training also enables international students to work in the real world in relation to their field of study. However, OPT has a work authorization of up to 12 months and the opportunity for 24 months with a STEM OPT extension. Here’s a couple of key details:


This is not a complete list of CPT and OPT requirements and restrictions. However, understanding these basic nuances can help international students make informed decisions about how to use CPT and OPT strategically.

Can international students do CPT and OPT? 

You can use both CPT and OPT as an F-1 visa holder, but careful planning is necessary. For example, if you accumulate 12 months or more of full-time CPT, you’ll lose eligibility for OPT. Additionally, although there’s no CPT limit for part-time employment, excessive CPT usage can increase the likelihood of additional scrutiny when applying for OPT, visa renewals and other Department of Homeland Security (DHS) benefits.

Can CPT and OPT overlap? 

CPT and OPT are separate, distinct work authorizations. Therefore, they can’t overlap. CPT must be completed before graduation as part of your academic curriculum. However, OPT can be used both pre- and postgraduation.

To ensure compliance with international student visa regulations, consult your Designated School Official (DSO) when planning for CPT or OPT employment.

How to maximize your F-1 visa with CPT 

CPT for international students opens the door to start building a professional network. Since CPT is tied directly to your major or course of study, it’s best to speak with your DSO as soon as possible to identify CPT opportunities that fit your academic and career goals. It’s best to stick with part-time CPT employment to ensure you don’t jeopardize future OPT eligibility. But if you need to work full-time hours, ensure you don’t exceed the 12-month threshold.

Using OPT to your advantage: Pre- vs. post-graduation options 

OPT provides international students with up to 12 months of work authorization that can be split between pre- and postgraduation periods. Some F-1 students choose to use OPT in tandem with their studies. However, any time spent on pre-completion OPT reduces available postgraduation OPT.

Therefore, most choose to reserve the majority of their OPT for postgraduation as this is when the most impactful career opportunities typically arise. In fact, the Institute of International Education’s 2024 Open Doors Report found that a record-high number (242,782) of international students stayed in the United States to gain work experience through OPT this past academic year.

To maximize your OPT:


Note that OPT must relate to your course of study, but it doesn’t have to be a program requirement like CPT.

How to get a 24-month STEM OPT extension 

If you’re an F-1 student in a STEM field, you might qualify for a 24-month OPT extension. Here’s what you need to know:


Note you can submit required documents, including Form I-765, up to 90 days before your current OPT employment authorization expires.

Get help navigating international student visa and work conditions

Understanding how to effectively leverage CPT and OPT opportunities at the right time in your study abroad journey can accelerate your academic and career goals. Whether you’re planning your first internship or strategizing a STEM OPT extension, MPOWER Financing is here to support you every step of the way. From funding your international education to navigating student visa support tips, we offer resources to help you succeed!


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