Are there scholarships or financial aid options available to help international students meet the new requirements?

There are several scholarships and financial aid options available to help international students meet the new cost of living requirements in Canada. While the landscape of financial support for international students is competitive, various opportunities exist:

Institutional scholarships

Many Canadian universities offer scholarships specifically for international students:

• The University of British Columbia provides International Major Entrance Scholarships (IMES) valued at $10,000 – $20,000 per year for exceptional international students entering undergraduate programs.
• The University of Windsor offers an International Student Renewable Scholarship of Excellence worth $5,000 per year for up to four years.

Bursaries and emergency funds

Some institutions provide bursaries and emergency funds for international students facing financial difficulties:

• The University of Windsor’s Student Support Bursary for International Students offers up to $1,000 per academic year for students experiencing unexpected financial challenges.
• Toronto Metropolitan University has an Emergency Bursary for International Students, a one-time, non-repayable award based on financial need due to emergency situations.

Program-specific scholarships

Certain scholarships target specific groups of international students:

• The Shukrana Foundation International Student Excellence Scholarship at Toronto Metropolitan University supports international women in STEM from South Asia, offering two annual awards of $5,000.

Work opportunities

While not direct financial aid, work opportunities can help students meet living costs:

• Most international students with valid study permits can work up to 24 hours per week off-campus during the semester, and full-time during scheduled breaks.

Private loans

When scholarships and bursaries are not sufficient:

• Some Canadian banks offer student loans with favorable interest rates and repayment schedules for international students.

It’s important to note that while these options exist, they are often highly competitive and may not fully cover the increased cost of living requirements. International students should research and apply for multiple funding sources well in advance of their studies to maximize their chances of receiving financial support.

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