Cost of Living in Canada for Indian Students 2023

Studying in Canada is considered a rewarding investment for your future as you have access to premier education, cross-cultural experiences, and a globally recognized degree. For international students, getting admitted to universities and colleges in Canada requires planning and financial commitment before you are there.

International students will have to meet the costs of studies and the cost of living in Canada. There is a requirement for a minimum bank balance for a Canada student visa. Citizenship and Immigration Canada (CIC) requires some proof that you have sufficient money and funds available. Your college provides a cost of living estimate, and the immigration officer will follow it. If your college doesn’t provide it, you will be required to show evidence of $10,000 for 12 months of living expenses in Canada as a student. An additional $4,000 will be required for the spouse and another $3,000 for each dependent. This amount includes accommodation, food, medical insurance, transportation, books, and clothing. Canada University fees and other fees are not included in this amount. Currently, the cost of a student visa for Canada is CAD 150 i.e. approx. INR. 9,303. 

Living Cost in Canada for International Students

It is vital that students obtain medical and hospital insurance as healthcare in Canada is very expensive. Public health insurance plans are administered independently in each province. Some universities require compulsory insurance coverage. The coverage should be secured within the first week after arrival. There are a few factors that affect the cost of living for Indian students. They are listed below:

1) Big city life vs. Suburban areas

Like anywhere in the world, living costs in urban centres are more than those in the suburbs. Many students prefer on-campus housing much more, which may not be the lowest-cost option but is definitely more convenient. Toronto and Vancouver are the most expensive cities to live in and with the shortage of affordable housing in Toronto, costs are the highest there and still continue to rise. The cost of living in Toronto for international students is CAD 1,945 to CAD 3,713. This depends mainly on your accommodation. The table given below provides the cost of living in Toronto for international students. Data has been sourced for the University of Toronto:

2) Based on Educational Institutions

Living expenses in Canada for Indian students varies from city to city and depending on where the school is located, the best-estimated living expense will depend on the university you are applying to. As mentioned earlier, every college provides estimated fees and living expenses in Canada. Some colleges have reasonable and affordable on-campus boarding options, some colleges charge quite a lot for the same. What is the cost of living in Canada for Indian students? On average, the cost of living in Canada for Indian students is around CAD 18,340 of which rent and accommodation forms the major part. Here is a table to help you understand approximate monthly expenses in Canada as well as annual costs.

*Average 1st-year tuition fees are based on 343 MS courses in Canada (source: studyabroad.shiksha.com)

How Much Money is Required to Study in Canada

Now that students are aware of the approximate living cost in Canada for international students, let us look at how much money is required to study in Canada from the perspective of the funds that you need to prove while applying for a Canada student visa. The minimum bank balance for Canada student visa depends on whether a student studies outside of Quebec or in Quebec. The tables given below provide the details of both:

Minimum bank balance for Canada Student Visa (outside Quebec):

Minimum bank balance for Canada Student Visa (in Quebec):

Scholarships to Study in Canada

Indian students may be eligible for a scholarship, fellowship, or grant to study in Canada. The Government of Canada, our provinces and territories, and many educational institutions offer funds for international students. Many colleges and universities in Canada offer scholarships to students to manage their studies and living. For more information about scholarships in Canada, you can visit the link. Students may also apply to colleges in Canada without application fees to reduce their costs.

Now that students are aware of the living cost in Canada for international students, they must apply for scholarships and look for part-time work to reduce their costs. For help with university applications, students seeking to study abroad can contact our Shiksha Study Abroad Counsellors. The comments section below allows candidates to contact us as well.