What is your budget range for education expenses and how much can you afford upfront in Canada for a Master's?
06 Aug 2026 · Answered by Syeda Uzma · 1 min read
The typical budget for a Master's in Canada includes both upfront and yearly expenses:
- Tuition fees: CAD 10,000 - 40,000/year, depending on the program and university (subject to change).
- Living expenses: CAD 1,500 - 2,500/month for accommodation, food, and other costs.
- Application fees: About CAD 75 - 100 per university.
- English proficiency test (IELTS/TOEFL): Around CAD 250.
- Visa application: CAD 150 (study permit).
- Biometric fee: CAD 85.
- Guaranteed Investment Certificate (GIC): CAD 10,000 (proof of funds, required).
- Health insurance: CAD 600 - 900/year.
These figures may vary by city and university.
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