If you are considering traveling to Canada to complete an MBA, you will need to consider the visa process, the cost of living in Canada, and finding an MBA program that fits your budget.
As the expense of education continues to increase across the globe, it might seem challenging to find an MBA program that is affordable, but there are several real options available in Canada.
Cost of living in Canada
The cost of living in Canada varies significantly depending on personal lifestyle preferences and your city of residence. The larger cities in the west and centrally, such as Montreal and Vancouver, tend to be more expensive.
However, in the Atlantic Provinces and smaller rural areas, you might find it easier to live on a budget as groceries, accommodation, and transport are generally more reasonably priced. When estimating your budget you should include all living expenses, including accommodation, health insurance, groceries, laundry, utility bills, clothing, traveling, and entertainment. This usually ranges from CAD800 to CAD1,000 per month, but in a large city it could be much higher.
Affordable Canadian MBA programs
The 10 Canadian universities offering the most affordable MBA programs follow. Prices are in Canadian Dollars:
- Memorial University of Newfoundland ($5,718)
- University of Quebec and Montreal ($8,186)
- Moncton University ($9,810)
- Sherbrooke University ($11,000)
- Dalhousie University ($11,500-$15,300)
- Lakehead University ($12,500-$17,500)
- Kenneth Levene Graduate School of Business at University of Regina ($13,083-$22,000)
- Lansbridge University ($14,000)
- Odette School of Business at University of Windsor ($14,134.50)
- Carleton University ($15,265.08)
Current Canadian student visa requirements include applicants having to prove they have the funds to support themselves during their stay. At present this is CAD10,000 for every year of your stay, on top of your tuition fees. You should keep this in mind when calculating your budget.
MBA Admission Requirements in Canada
Each school establishes the specific admission requirements but typically for an international student to be considered on to an MBA program in Canada, an applicant should already have a 4-year undergraduate degree, a Graduate Management Admission Test (GMAT) score, work experience, and a Test of English as a Foreign Language (TOEFL) score (for applicants whose first language is not English).
How to apply
All schools in Canada accept online applications. There will be a non-refundable application fee ranging from CAD$100 to CAD$150, so you should have a valid credit card which allows international payments, or you might be able to make a bank transfer. Before completing your application online it is also vital that you check the visa requirements for studying in Canada.
After you graduate
Your Canadian Study Permit will expire 90 days after graduation (regardless of the date printed on the permit). If you wish to stay in Canada after graduating you might be able to apply for a post-graduation work permit (PGWP), which will allow you to work for any employer anywhere in Canada for up to three years. Once you have gained work experience via the PGWP you may be able to pursue various routes to get permanent residency.
If you are contemplating applying for a visa that allows you to study for an MBA in Canada, enlisting the help of a immigration professional is highly recommended. They will help you to complete the paperwork, all that is needed to begin is your official Letter of Acceptance from the Canadian university that you wish to attend.
The best Canada student visa agents have had years of experience helping students obtain study visas and pass the IELTS exam. They understand that every case is different, and will offer a personalized service to help guide you through the process and navigate any hurdles that may come your way.
Bevan Berning is an Immigration professional and owner of Pathway Visas, an Immigration Agency dealing mostly with skilled immigration to Canada and Australia.
Bevan’s enthusiasm for the industry has kept in the Immigration field for the past seven years. Bevan is South African by birth and has been residing in Dubai for the past eight years. You can connect with Pathway Visas on Facebook, Twitter and LinkedIn.