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Wilfrid Laurier University Leaf
October 1, 2014
 
 
Canadian Excellence

Money Matters



Financial Assistance

For all graduate and undergraduate students the Canadian International Development Agency (CIDA), UNESCO, or other agencies may be a source of financial aid, exclusively channelled through the Department or Ministry of Education in your home country. Consult the UNESCO publication "Study Abroad" and ask for the Canadian Bureau for International Education (CBIE) brochure "Awards for Study in Canada." Financial relief may be available through the CBIE Emergency Fund.

If your funds are inadequate, Wilfrid Laurier University will not assume financial responsibility. Students holding a Student Authorization are obligated by law to have sufficient resources to cover all living and academic expenses while in Canada. Some academic expenses include the purchase of books, paper, pens, calculators, drawing equipment, binders, and project materials. Requirements vary depending on the program.

Book lists are available during the first week of classes. Do not make any purchases before seeing each professor or academic advisor, unless otherwise specifically directed.

Budget Expectations

The Canadian dollar is the only currency accepted across Canada. You may exchange most currencies for Canadian dollars at any commercial bank. All references to money in this document are in Canadian dollars.

If you plan to transfer money to Canada, consider using cable transfer. Additionally, at least one week before you travel to Canada, have your bank wire money to one of the Canadian chartered banks listed in the banking section. The bank will hold your funds until you arrive.

You may have to wait for the funds to be cleared by your bank at home. You should find out from your local bank how long it takes to transfer funds to Canada, and arrange the transfer well before your departure.

Before coming to study in Canada, you should budget your expenses. Depending on the length of your stay, costs will vary. Whether you are an undergraduate student or a graduate student, you should approximate the total cost of all your expenses including tuition. You can expect to spend roughly $30,000 in Canadian currency for the period of one year. If you decided to bring family members with you, the increase in cost is to be expected of approximately $5,000 more per individual. Also, keep in mind that the tuition costs may increase each year. You should create a plan of the approximate funds you will need. Since each individual has different needs, take your spending habits into account. A helpful method of approximating your funds is writing down your expected costs, such as rent, tuition, books, food, clothing, entertainment, etc. Ensure that you budget wisely so that you will have enough funds to cover your entire stay. Below there is an example of a very modest budgeting per one person.

Please be aware that this example does not include the tuition costs. For tuition costs please refer to the graduate or undergraduate WLU calendar.
Expense Monthly Yearly
Housing-single room; may or may not include utilities; if you pay for utilities add extra $50-$100 $350.00 - $650.00 $4800.00 - $7800.00
Food - if you cook at home only $300.00 $3600.00
Medical Insurance (UHIP, AMS/SGPS supplementary insurance plans)   $1000.00
Textbooks and Supplies (cost vary according to subjects and academic level)   $800.00 - $2500.00
Telephone (including connection fee, but not long distance costs) $30.00 $360.00
Clothing (costs vary)   $700.00
Miscellaneous - entertainment, new study permits etc.
*does NOT include traveling costs, cigarettes, alcohol
  $700.00
Total   $12,560.00 - $16,660.00


This budget does not include transportation, TV cable, and travelling and tuition costs.