The universities in Canada have an excellent reputation worldwide. Studying in Canada, whether it ‘s a bachelor’s / master’s degree or a semester abroad, not only enhances your résumé, but also offers many other advantages. However, studying at a Canadian university or college has its price. The tuition fees for international students are unfortunately very high and the cost of living, for example for food and accommodation, also has an impact. However, this is no reason to give up your dreambecause there are various financing options for studying in Canada. At this point we give you a helpful overview of the various options.
Funding for a semester abroad in Canada
There are many financing options, especially for those who only want to study in Canada for one or two semesters as part of a study abroad program:
Probably the most frequently used form of funding is funding for the semester abroad in Canada through BAföG abroad. In fact, the chances of such funding are very good. Because even those who are not entitled to BAföG in Germany can still receive financial support. The assessment limits for the foreign BAföG are higher than for the domestic BAföG. You should therefore make a corresponding application in any case. Those who are entitled to funding from BAföG abroad receive the following benefits:
- Grant towards tuition fees of up to EUR 4,600 for a maximum of one year of study in Canada
- Travel allowance for outward and return flights totaling EUR 1,000
- Monthly basic requirement of a maximum of EUR 649 and monthly foreign surcharge for Canada (changes every six months)
- Contribution to German health and long-term care insurance of a maximum of EUR 86 as well as foreign health insurance for studying in Canada
The Thuringia Student Union is responsible for BAföG abroad for Canada, a major country in North America listed on sportsqna.
Scholarships are another way of financing your studies in Canada. The good thing about scholarships is that you do n’t have to pay them back and they can usually be combined with BAföG abroad without any problems. From companies to organizations to gifted scholarships or foundations: There are many scholarship providers who help students financially in the realization of their semester abroad. Most of the scholarships can be found in the Scholarship Guide, the scholarship database of the Federal Ministry of Education and Research. Among other things, there are the following full and partial scholarships for a semester abroad in Canada:
- DAAD: The German Academic Exchange Service awards, for example, the so-called PROMOS scholarship, which can be used to finance one or two semesters abroad in Canada. The DAAD also awards subject-specific scholarships. In the scholarship database of the DAAD you can for a matching grant research.
- Scholarships from Canadian universities: The Canadian universities themselves also award full or partial scholarships to international visiting students.
A student loan can also be an option to finance the semester in Canada. A student loan is also suitable for topping up a partial scholarship or BAföG abroad. It is important to compare the offers of the credit institutions with one another and to pay particular attention to a favorable interest rate and flexible repayment modalities.
For special subjects, such as business administration or law, education funds are also possible.
The Study Permit allows you to work up to 20 hours a week on campus (for example in the library or in the cafeteria) during your semester abroad. You can also work full-time during the semester break. You don’t need an extra work permit for this. However, you will need a Social Insurance Number (SIN), which you can apply for at a Service Canada Office on site.
Working alongside your semester abroad is not only a good opportunity to top up your BAföG or a scholarship, it is also a great opportunity to immerse yourself even deeper in Canadian culture.
Financing options for a full degree in Canada
Unfortunately, the possibility of financing through BAföG abroad does not apply to a full degree in Canada, as a full degree can only be funded within Europe. Nonetheless, there are various options for funding even with a full degree in Canada:
German scholarship providers for a full degree in Canada are unfortunately rather few and far between. A thorough search in the scholarship guide database for full or at least partial scholarships may still be worthwhile. The DAAD also seldom awards grants for studies completed entirely in Canada. Mention should be made here of the scholarship for an LL.M. degree abroad.
If it is a full course, then it is mainly the Canadian universities that give scholarships to international students. The best thing to do here is to look directly at the website of the university of your choice. The prerequisites vary, but the scholarships are often performance-related and / or aimed at applicants from certain fields.
The Canadian government and Canadian organizations and foundations, such as the Trudeau Foundation, regularly offer scholarships specifically for international students who want to study or do research in Canada. You can find out which scholarships are currently advertised on the corresponding website of the Government of Canada.
Due to the long duration of a full degree, you should only consider taking out a student loan if all other financing options for studying in Canada are out of the question for you. Find out more about the interest rates and the repayment modalities at the banks and compare the offers with each other.
Anyone planning to do an MBA or LLM in Canada should find out about the possibility of an education fund. Here the repayment modalities are much more moderate than with a “classic” student loan.
With the Study Permit, international students who complete a full degree in Canada have the opportunity to work both on and off campus. You do not need an extra work permit for this, but you must apply for a Social Insurance Number in advance from a Service Canada Office. Since the study performance should not suffer from the part-time job, the number of working hours is limited to 20 during the semester. During the semester break there is the possibility of working full-time.