Cost of Living in Canada for Indian Students 2024

Living Cost in Canada: So you are considering Canada for your higher studies, and you are here to get an idea about the living expenses. Well, this is the right approach to plan to study abroad as an international student. The cost of living in Canada is more expensive than in India, but more affordable than in the USA or the UK.

It is important that you do good financial planning to cover the expenses. Accommodation, grocery, and health insurance expenses are the top factors which affect the overall cost of living in Canada. Also, at the time of applying for the Canada student visa, IRCC asks for proof that you have sufficient funds to cover your expenses. In this article, we will give you an overview of living expenses in Canada and other relevant information about the topic.

Living Cost in Canada for International Students

According to Numbeo, an Indian student needs INR 88,400 per month to cover the monthly expenses. This amount does not include house rent as it varies from place to place. Students must obtain medical and hospital insurance as healthcare in Canada is very expensive.

Public health insurance plans are administered independently in each province. Some universities require compulsory insurance coverage. The coverage should be secured within the first week after arrival. There are a few factors that affect the cost of living in Canada for Indian students. They are listed below:

• Housing: Housing is the most significant expense for students in Canada. Rent prices vary widely based on location and housing type, making it a major factor in overall living costs.
• Transportation: Transportation costs vary based on city and personal preference, impacting the overall budget. It is advisable to use public transport to save money.
• Food: Grocery and food costs are influenced by dietary needs and cooking habits, significantly impacting the overall budget. Cooking at home will help you to save a lot money.
• Healthcare: International students in Canada need to have private health insurance. The country has a public healthcare system, it doesn't cover all residents. This added expense contributes to the overall cost of living in Canada. 
• Other Expenses: Tuition fees, textbook expenses, entertainment costs and personal spending also contribute to the overall cost of living.

Big City Life vs. Suburban Areas

Like anywhere in the world, living costs in urban centres are more than those in the suburbs. Many students prefer on-campus housing much more, which may not be the lowest-cost option but is definitely more convenient. Toronto and Vancouver are the most expensive cities to live in and with the shortage of affordable housing in Toronto, costs are the highest there and still continue to rise. The cost of living in Toronto for international students is CAD 1,945 to CAD 3,713. This depends mainly on your accommodation. The table given below provides the cost of living in Toronto for international students.

Source: Numbeo

Cost of Studying in Canada

Living expenses in Canada for Indian students vary from city to city and depending on where the school is located, the best-estimated living expense will depend on the university you are applying to. As mentioned earlier, every college provides estimated fees and living expenses in Canada. Some colleges have reasonable and affordable on-campus boarding options, some colleges charge quite a lot for the same. What is the cost of living in Canada for Indian students? On average, the cost of living in Canada for Indian students is around CAD 18,340 of which rent and accommodation forms the major part. Here is a table to help you understand approximate monthly expenses in Canada as well as annual costs.

*Average 1st-year tuition fees are based on 343 MS courses in Canada (source: studyabroad.shiksha.com)

Related Blog: What is Student Accommodation?

How Much Money is Required to Study in Canada

Now that students are aware of the approximate living cost in Canada for international students, let us look at how much money is required to study in Canada from the perspective of the funds that you need to prove while applying for a Canada student visa. The minimum bank balance for Canada student visa depends on whether a student studies outside of Quebec or in Quebec. The tables given below provide the details of both:

Minimum Bank Balance for Canada Student Visa (outside Quebec):

City Wise Cost of Living in Canada

As mentioned earlier, the living expenses in Canada are not the same for every city. Toronto and Vancouver are the most expensive Canadian cities, where most top universities are located. Smaller cities like Quebec and Saskatchewan are the least expensive. Here, we have mentioned some insights related to the cost of living in Canada per month. This table will give you an idea of how much money you need to manage your living expenses in Canada. However, this amount excludes the house rent as it varies from place to place.

Source: PayScale

Scholarships to Study in Canada

Indian students may be eligible for a scholarship, fellowship, or grant to study in Canada. The Government of Canada, our provinces and territories, and many educational institutions offer funds for international students. Many colleges and universities in Canada offer scholarships to students to manage their studies and living. For more information about scholarships in Canada, you can visit the link. Students may also apply to colleges in Canada without application fees to reduce their costs.

Now that students are aware of the living cost in Canada for international students, they must apply for scholarships and look for part-time work to reduce their costs. For help with university applications, students seeking to study abroad can contact our Shiksha Study Abroad Counsellors. The comments section below allows candidates to contact us as well.