Planning to do an MBA? But can’t decide where to go and get this degree. Canada could be the answer! Known for its exceptional courses, the cost to study MBA in Canada starts from INR 20 -30 lakhs for international students.
It is one of the most popular and competitive courses offered by Canadian Universities and has an exceptional ROI. Students from across the globe have access to working with the world’s best companies like Goldman Sachs, BCG, Johnson & Johnson, Gartner, etc.
Canada’s high standard of education draws students from around the world. The teaching style, updated course offerings, range of MBA specialties, and internship and job placement options offered by Canadian colleges have raised their global standing. In the QS World University Rankings, a number of universities are ranked highly.
To start an MBA program at a Canadian university, you must first be financially prepared. To start an MBA program at a Canadian university, you must first be financially prepared.
To assist you in taking the first step, this article will provide you with a thorough understanding of the associated expenditures.
Leading elements that affect MBA tuition in Canada
A foreign student’s decision to pursue an MBA in Canada is mostly influenced by the cost of tuition, living expenses, and other costs.
The cost of living might vary significantly depending on the lifestyle, spending plan, and spending habits of the student.
Students can get a general idea of the costs connected with studying in Canada by familiarizing themselves with the anticipated MBA fee structure in Canada.
- Application fee – 3,020 INR – 9,318 INR per application
- Academic test- 15,475 INR – 22,400 INR per exam
- Additional scorecard – 1,500 INR – 2,850 INR per scorecard
- Average tuition fee – 24,16,593 INR – 60,71,690 INR per annum
- Canadian student visa fee – 9,170 INR
MBA costs in Canada for Indian students
The majority of the total MBA costs in Canada are made up of the MBA fees for overseas students. The actual cost of attending school in Canada, particularly for MBA specialties, varies depending on your preferences and the institution you attend.
You can check the university’s official website for the admission and school year you are planning to apply for as an overseas student. The table below contains a ranking of the top MBA universities in Canada for Indian students.
- Ivey Business School, University of Western Ontario – 74,61,231 INR per annum
- Desautels Faculty of Management, McGill University – 60,11,275 INR per annum
- Rotman School of Management, University of Toronto – 82,41,186 INR per annum
- Smith School of Business, Queen’s University – 62,89,183 INR per annum
- Schulich School of Business, York University – 67,81,564 INR per annum
Living expenses and MBA costs
Next, let’s talk about the living costs for overseas MBA students studying in Canada. These are significant contributing variables to the price of an MBA program in Canada.
The table below is a list of all the basic and required expenses that must be paid when an international student is studying in Canada. The average cost of an MBA program in Canada.
- Accommodation – INR 24,500 – INR 36,700
- Food & Grocery -INR 12,053 – INR 18,000
- Transportation – INR 6,000 – INR 15,000
- Internet- INR 1,800 – INR 3,000
- Miscellaneous – INR 36,200 – INR 42,200
Other important MBA studying costs
There are other necessary charges to be paid in addition to the MBA in Canada fees and living costs. Below, we have a detailed explanation of them.
Visa Cost
You must pay the visa cost as an international student when you apply for a student visa to study for an MBA in Canada. It costs 150 CAD or 9,170 INR, and the biometric fee is 85 CAD or 5,200 INR.
Application Fees
You should submit an application fee when submitting your MBA application through a Canadian university’s official website.
It needs to be paid at the same time as submitting the online application. Each university has a separate price. The price ranges from 45 CAD (2,750 INR) to 200 CAD (12,220 INR).
Student Health Insurance Abroad
International students may be eligible for health insurance from some universities. You can look for MBA tuition costs in Canada on the university’s official website.
If such were the case, other expenses would be covered by the MBA tuition for overseas students in Canada. Before you apply for your student visa, you must have health insurance.
Therefore, you must buy health insurance if your university does not provide coverage and the government of the state in which your university is located does not provide health insurance to international students.
Conclusion
You can make additional plans now that you are fully aware of the different costs associated with studying for an MBA in Canada.
You can choose the style of lodging you wish to stay in and come to a decision regarding the whole cost of your MBA studies in Canada.
In order to achieve your educational objectives, it is crucial to pick the best MBA specialization and a Canadian university.
