Financial Aid
Financial aid for Canadian students
Canadian students have access to numerous funding options to help them pay for an MBA, such as grants, private loans, fellowships, scholarships and bursaries, and government loans.
The Canada Student Loan program is an integrated program, meaning that it is administered by both federal and provincial governments. The provincial governments handle all student contacts, so if you wish to take out a loan, you should do so through your province. The Government of Canada’s main responsibilities in this program lie in funding, administration, and support. It is important to note that this is a need-based program and is only available to Canadian citizens and permanent residents.
A Canada Study Grant is an adjunct of the Canada Student Loan program. To be eligible, you must be a Canadian citizen, have financial need, and must meet the requirements of the specific grant for which you apply. Grants are available in many subcategories, including students with disabilities or students with children.
Great news for Saskatchewan students: Government of Saskatchewan now offers a Graduate Tax Exemption.
Financial aid for international students
International students have various options for funding their Canadian MBA.
The International Education Finance Corporation (IEFC) provides loans for students wishing to study in foreign countries. Visit their website for an online application.
The Paras Education Foundation is a financial consultant, helping international students to obtain study abroad loans for more than 42 countries including Canada, the United States, the United Kingdom, Australia, and New Zealand. Loans are repayable within 20 years. No collateral security is necessary.
External financial aid is also available in the form of personal lines of credit, credit cards, family loans, etc. International students should explore their options for financial aid in the form of loans and scholarships from their home countries.
Useful links
