Budgeting as a Future International Student in Canada

May 15, 2023

As a future international student in Canada, you will need to budget for several expenses, including tuition fees, housing, food, transportation, and other living expenses. The amount of money you need to survive will depend on your individual circumstances and lifestyle, but here is a general breakdown of the costs you can expect to incur:

  1. Tuition fees: Tuition fees for international students in Canada can be quite high. The cost will vary depending on your program of study, but you can expect to pay between $10,000 and $40,000 per year for undergraduate programs, and between $15,000 and $50,000 per year for graduate programs.
  2. Housing: Housing costs in Victoria can vary depending on the type of accommodation and location. As mentioned earlier, rental prices can range from around $500 to $5,000 or more per month. You may also need to pay a deposit, as well as additional fees for utilities and internet.
  3. Food: The cost of food will depend on your eating habits and preferences. You can save money by cooking your own meals and shopping at affordable grocery stores. On average, you can expect to spend around $200 to $300 per month on food.
  4. Transportation: If you plan to use public transportation, you will need to budget for bus passes or individual fares. A monthly bus pass in Victoria costs around $85.
  5. Other living expenses: Other living expenses may include textbooks, health insurance, cell phone bills, and entertainment. These costs will vary depending on your needs and lifestyle.

In general, you should plan to have at least $15,000 to $20,000 per year to cover your basic living expenses as an international student in Victoria, BC. This amount will increase if you plan to live in more expensive accommodations or if you have additional expenses.

It's important to note that some schools may require international students to prove that they have sufficient funds to cover their living expenses before they can be admitted. You should check with your school to find out their specific requirements.

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