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Cheap MBA Colleges In Canada 2022: Fees, Eligibility & Deadlines

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There are many MBA colleges in Canada that offer excellent programs with expert faculty, state-of-art infrastructure, and professional opportunities without a heavy price tag. Canada’s two-year full-time MBA program also makes you eligible for a three-year work permit, which can help you settle in the country in the longer run. In the article, we have listed the Cheap MBA Colleges in Canada with detailed information on fees, eligibility and course structure.

So if you wish to pursue an MBA program in Canada but cannot afford the hefty fees then this article will help you fulfil your dreams.

cheap mba colleges in Canada

List of Cheap MBA Colleges In Canada

Without further ado, let’s take a look at some of the least expensive MBA colleges in Canada and their minimum requirements.

University of Alberta

Alberta School of Business is among Canada’s oldest and most reputed business schools. The university is AACSB accredited with a holistic curriculum that combines real-world exposure with academic aspects. An MBA at the University of Alberta mixes case studies, lectures, practicals, mentorship, and industry projects into a perfect blend of textbook concepts and professional experience.

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Cheap MBA Colleges In Canada 2022: Fees, Eligibility & Deadlines

Fees: An MBA at this university will cost you ~ 5 lakh INR

The following are the minimum admission requirements for the University of Alberta:

  • 80% Percentile or B grade GPA.
  • A minimum score of 550 in GMAT exams.
  • At least two years of work proven work experience.
  • Letter of Reference from an Industry Peer and Education Faculty.
  • An inspiring Statement of Intent for the MBA program.
  • IELTS score greater than or equal to 7, or TOEFL score of at least 100.

Also Read: Cheapest MBA Colleges in the UK

Memorial University of Newfoundland

MBA programs at the Memorial University of Newfoundland (MUN) are AACSB accredited and offer financial support through provincial subsidies. The university is a pioneer of MBA courses that include business ethics as a core subject.

Fees: An MBA at this university will cost you ~ 7 lakh INR

Here are the minimum requirements for a MUN MBA:

  • GPA score of at least 2.75 on the grading scale and 80-82% on the percentile scale.
  • GMAT score of a minimum of 550 is compulsory.
  • Minimum work experience of two years.
  • IELTS score of 7.0 and TOEFL score of 580 (pBT) and 237 (cBT).
  • At least two Letters of Reference from professional peers and academic faculties.

University of Prince Edward Island

Prince Edward Island is a good choice for international students prioritising the cost of living which is comparatively lower on Edward Island than in other places. Fees: An MBA at this university will cost you ~ 6 lakh INR The full-time MBA program requires candidates to:

  • Have a four-year bachelor’s degree.
  • GMAT or very high academic score in UG.
  • IELTS score of at least seven or TOEFL score of 100.

GMAT Cut-off for MBA Colleges In Canada   

The Wilfrid Laurier University

Wilfrid University has multiple accreditations with two MBA specializations The courses offered at Wilfrid are an ideal stepping stone for students looking to pursue PhD in Canada.

Fees: An MBA at this university will cost you ~ 8 lakh INR.

Here are the admission requirements for MBA at Wilfrid Laurier University:

  • Four-year bachelor’s degree.
  • GMAT score of minimum 550.
  • Work experience of a minimum of two years.
  • IELTS score of 7 or TOEFL score of 89.
  • Three Letters of Reference (professional and academic).

University of Calgary

The University of Calgary offers flexible MBA programs, and students can choose from full-time MBA or part-time MBA curriculums and accelerated or executive MBAs. The thesis-MBA course at the University of Calgary is one of the least expensive MBAs in Canada for international students.

Fees: An MBA at this university will cost you ~ 14 lakh INR.

Let’s take a look at the minimum requirements for MBA at the University of Calgary:

  • GPA score of 3.3 out of 4.4 or A on the grading scale, or 86% on the percentile score.
  • GMAT score of more than 600.
  • A thoughtful SOP for the MBA program of your choice.
  • At least two letters of reference from professional peers or academic mentors.

The Ryerson University

Situated in Toronto, Ryerson University presents MBA students with exciting professional opportunities.

Fees: An MBA at this university will cost you ~ 19 lakh INR.

Here are the admission requirements for MBA at Ryerson:

  • GPA score of 3 on a scale of 4.33, B+ grade on the grading scale.
  • A decent GRE score of at least 130.
  • Minimum work experience of two years.
  • Two Letters of Reference for MBA program.
  • Statement of Intent for foreign education.
  • IELTS score of 7.5 or TOEFL score of 100.

MBA at Laval University

Laval University is a double accredited institution recognised by the AACSB International and EQUIS. The university also presents scholarship opportunities worth 5000 CAD to exceptional candidates. The Laval MBA program is the best option for an MBA in Canada without GMAT.

Fees: An MBA at this university will cost you ~ 16 lakh INR.

Admission Requirements for MBA at Laval University:

  • Four-year bachelor’s degree.
  • IELTS score of 6.5 or a minimum TOEFL score of 79.
  • A well-designed presentation/personal letter.
cheap mba colleges in Canada


Even though low-budget college admission requirements are at par with the top MBA universities, the silver lining is that an MBA at these universities is easier to finance. There are many other options for an MBA, such as the University of New Brunswick, Ted Rogers School of Management, Haskayne School of Business, Carleton University, Concordia University, Saint Mary’s University, and Sprott School of Business.

Students must conduct their due diligence in curriculum, specializations, and job opportunities after the MBA before committing to a university. Contact LeapScholar Counsellors for detailed guidance.

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Frequently Asked Questions

How much does an MBA cost in Canada?

Three out of the top 50 universities in the world are Canadian universities. The country offers students over 97 higher education institutions. An MBA in Canada costs anywhere between $2500 to $40,000. Ontario has the most MBA programs with 22 public universities offering world-class education.

What is the best way to find quality affordable MBA colleges in Canada?

Students often spend a lot of time researching and identifying the best budget MBA programs. An ideal way to find an excellent cheap MBA college is to filter provinces by the cost of living. Once you find a few, look for recognised universities that offer specializations of your choice. After you have narrowed down the list to the last few, dive deep into the educational requirements for every institute.

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Saket Kohli

An International Higher Ed professional with 7+ years of experience studying, working, and living across three geographies, currently on a mission to share his journey as an International Student.

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