Navigating Scholarships in Canada as an International Student

Studying in Canada offers high-quality education at a lower cost than the U.S., but tuition, fees, and living expenses can still be significant. Finding financial aid options can make your studies more affordable, and while we can’t guarantee funding, Hakademy is here to help guide you through the process.

Understanding Study Permit Financial Requirements

Before obtaining a Canadian study permit, you need to prove you have sufficient funds to support yourself. These minimum financial requirements apply to every province except Quebec:

• Single student: Tuition plus $10,000 per year ($833/month).
• One accompanying family member: Additional $4,000 per year ($333/month).
• Each additional dependent: Additional $3,000 per year ($255/month).

In Quebec, financial requirements are slightly higher:

• One person over 18: $12,341 per year.
• One adult and one minor: $16,584 per year.
• Two adults and two minors: $21,881 per year.

Planning ahead by creating a budget and exploring aid opportunities is key to managing costs.

Scholarships and Bursaries

Many international students secure scholarships or bursaries to reduce tuition costs.

• Home Country Scholarships: Research funding options offered by organizations, businesses, and governments in your country.
• University Entrance Scholarships: Most Canadian schools provide automatic or application-based scholarships for international students.
• Private Grants & Funding: Organizations like the International Council for Canadian Studies offer financial aid opportunities.

While we can’t promise scholarships, Hakademy can help you find potential funding sources and optimize your applications.

Canadian Government Aid

• Government of Canada International Scholarships: Provides funding for study-abroad programs and individual student grants.
• Canada Student Loan Program: Some international students may qualify for loans with the same terms as Canadian residents, but eligibility depends on provincial regulations.

Understanding which funding options you qualify for will help you maximize available resources.

Student Loans in Canada

If scholarships and grants don’t cover all costs, student loans may be an option:

• Federal Loans: Offered through the Canada Student Loan Program but may have eligibility restrictions for international students.
• Private Loans: Provided by banks and financial institutions.

Hakademy can help you explore lenders, compare loan options, and ensure you’re borrowing only what you need to avoid excessive debt.

Hakademy Works With You to Find Solutions

We know navigating financial aid can be challenging, and while we can’t guarantee funding, our team is committed to helping you find opportunities that fit your needs.

• Need help finding scholarships? We’ll guide you through available options.
• Looking for student loans? We’ll help you compare lenders and apply.
• Unsure about study permit financial requirements? We’ll help you prepare.

You don’t have to navigate this alone—Hakademy is here to support your financial planning every step of the way.

Ready to start your journey? Explore financial aid options with Hakademy today!