How much help is this? A 2024 Canadian University Survey Survey survey of upcoming students found that 45% of students completed their debt: “Average debt for all students is less than $13,000, but only those who report debt are considered.” Additionally, it notes: “Students need more than $19,000 to fund their current education, most often relying on parents, families or spouses, current employment and government loans.”
These numbers can be disturbing, reluctance to be a student or as a parent. This student financial aid guide can help you understand your choices, how the program works, and how to apply and qualify. Remember, you have no losses if you apply!
How much does it cost to be in Canada, a university or a university school?
You may already know that going to college or university is a huge investment and academic expenses can vary greatly depending on academic programs. However, on average, Canadian college students paid $7,360 in tuition for the 2024-2025 academic year and graduate students paid $7,662 in CAD, according to Statistics Canada. International students pay much more: $40,114 for undergraduate studies and $23,233 for graduate studies. (See average tuition fees per province and region, and tuition fees for universities in 2024-2025.)
In addition to tuition fees, you have many other fees during your college days, including:
- rent: The national average monthly cost for a dedicated two-bedroom rental apartment in May 2025 varies greatly, but the Canadian Mortgage and Housing Company (CMHC) price is $1,447, according to Canadian Mortgage and Housing Company (CMHC). For two-bedroom units in the apartment market, the average monthly rent is higher at $2,199. If you share with your roommate, you will be $723 or $1,100 respectively.
- groceries: About $350 to $400 per month
- Food on campus: Varies with school and meal plans; for example, at the University of York in Toronto, meal plans for students living in residency range from $3,800 to $6,950 in 2025-2026
- Books/Course Materials: $500 to $1,000
- go home: Various
- Public Transportation: Monthly transit passes $80 to $150
- Extracurricular Activities: Several hundred dollars per month
Students who live at home during school can save a lot of money. Here are more tips for saving money for Canadian universities and college students.
What financial aid can Canadian students use?
Federal and provincial governments provide financial assistance to part-time and full-time college and college students in Canada.
The Canadian Government’s Canadian Student Loan Program (CSLP) provides financial assistance to students based on financial needs. The amount of funds provided helps to cover expenses such as tuition, school supplies and living expenses, depending on many factors such as family income, tuition fees, plan length and whether you have recruited full-time or part-time jobs and school-related expenses as described above. To better understand how much student aid you may be eligible for, check out the student’s financial aid estimator.
Student loans from CSLP are publicly funded money until you graduate or leave school for six months and you don’t have to start repaying and interests don’t accumulate. After the grace period is over, you are responsible for repaying the total amount borrowed, as well as the interest. In 2023, the federal government permanently eliminates new and existing Canadian student loans. Any interest arising from In advance However, payment still has to be made by that date.
