How much funding do I need to provide from my side for studying abroad in Australia/Canada for a Master's?
For a master's, budget AUD 50,000 to 90,000 a year in Australia, covering tuition, living costs, and health cover, or CAD 35,000 to 75,000 or more in Canada. Part-time work up to 48 hours a fortnight in Australia or 20 hours a week in Canada can offset daily expenses.
Your total out-of-pocket funding for a master's abroad depends heavily on which country and city you pick. Australia and Canada both require you to prove funds for your visa on top of your actual tuition and living budget, so it helps to see the two side by side.
Annual Cost Comparison: Australia vs Canada
| Expense | Australia (AUD) | Canada (CAD) |
|---|---|---|
| Tuition fees | 25,000 to 55,000+ | 15,000 to 45,000+ |
| Living expenses | 21,000 to 35,000 | 20,000 to 30,000 |
| Insurance or one-time costs | OSHC 600 to 800 | Permit and pre-arrival 1,500 to 3,000 |
| Total annual out-of-pocket | 50,000 to 90,000 | 35,000 to 75,000+ |
Visa Proof Of Funds And Ways To Reduce Your Burden
- Australia visa proof: your first year tuition plus a living cost benchmark of roughly AUD 29,000 or more
- Canada visa proof: first year tuition plus IRCC's minimum living cost of CAD 22,895, excluding tuition
- Part-time work: Australia allows up to 48 hours a fortnight, Canada allows up to 20 hours a week during term and full-time during breaks
- Scholarships and research assistantships, common in STEM thesis-based programs, can meaningfully cut your net tuition
My Advice
Pick your city as carefully as your country, since Sydney or Toronto living costs can swing your annual budget by thousands compared to a smaller university town. Treat part-time work as a way to cover day-to-day spending only, and never plan your tuition around income you have not yet secured.
Cash income, business income or no ITR?
See whether your funds and documents will pass the Australian visa check.
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