Canada and U.S.A. are excellent study destinations due to their universal healthcare, conciliatory government, and top-notch educational institutions. In this blog, I discussed various aspects that impact international students’ total living costs in Canada and the United States. Estimating the cost of living in Canada and the U.S. is vital for arranging financial support to study and live.
Before I came to Canada, I was also confused about where I should go, Canada or the U.S. I researched a lot, asked my friends who were already staying in the U.S., consulted with a few agents, and finally, I decided to come to Canada. I will tell you why I chose Canada over the U.S. later on. Now let’s discuss significant estimates regarding student living costs. Also, I will share my living cost in Canada and some money-saving tips which helped me save my expenses while studying.
If you wish to know more about Money-saving tips, read this blog. How International students can save money in Canada.
1. Tuition Fees
Compared to the U.S., Canada is the most economical choice for international students.
Canada
Your university fees contribute significantly to your ultimate living cost. The tuition charge for your master’s degree depends on the program you want to study. In contrast, most graduate programs cost between CA$ 14,000 and $32,000 in Canada, and graduate programs such as an M.B.A. cost twice as much as other programs.
The U.S.
The cost of studying in the United States ranges from $15,000 to $40,000 per year for undergraduate and $20,000-$45000 for graduate programs. Choose a university or college based on your budget.
Given below is an estimated comparison between Canadian and U.S. tuition fees.
| Program | The average cost in Canada (CAD) | The average price in the U.S.(USD) |
| Undergraduate programs | $5,000-$25,000 | $15,000-$40,000 |
| Graduate programs | $14,000 – $32,000 | $20,000-$45,000 |
2. Living Cost
After tuition fees, one of the main factors to the entire cost of living is your accommodation. Because Canada and the United States are developed countries, rental prices for accommodation are higher. The location also matters; for example, Living in a small town is less expensive than living in a larger city. International students have a variety of housing alternatives, including hostels, homestays, dorms, and apartments.
Canada
You’ll have a lot of housing alternatives in Canada, and the pricing range will be just as varied. The following are the most common student housing options in Canada:
- Monthly rent for student apartments ranges from $350 to $700. (sharing basis)
- The average monthly cost of a homestay is between $300 and $800.
- Rented apartments in Canada can range from $700 to $2,500 per month while living on campus can cost between $7000 and $15,000 per year.
The U.S.
- Monthly rent for student apartments ranges from $500 to $800. (sharing basis)
- The average monthly cost of a homestay is between $500 and $1000.
- Rented apartments in the U.S. can range from $500 to $2,500 per month while living on campus can cost between $9000 and $15,000 per year for public colleges.
Comparison chart between accommodation type in Canada and U.s.
| Accommodation type | The average cost in Canada (CAD) | The average price in the U.S.(USD) |
| Student apartments | $300-$700 | $500-$800 |
| Homestay | $300-$800 | $500-$1,000 |
| Rented apartments | $700-$2,500 | $500-$2,500 |
| On-campus | $7,000-$15,000 | $9,000-$15,000 |
3. Food Expenses
Food costs depend on your dietary habits. So make your meal at home to save money. Also, learn cooking before you go abroad; it will help you a lot.
Canada
Food in Canada is not economical but less expensive than most other study destinations worldwide. For example, A typical lunch in a nice restaurant will cost you between CA$10 and $20, a medium size pizza will cost around $12, and you can get a coffee for $1.60. Costs can be less or more depending on the food franchises. Generally, the total monthly cost of groceries is $200-$350.
The U.S.
Groceries cost between $300 and $600 per month. Shop at the cheapest supermarkets, such as Walmart, Costco, Food 4 Less, and Trader Joe’s. You can grab a meal for around 12 USD and a coffee for $4.50.
4. Health insurance
Studying abroad requires health insurance. Although the government does not mandate student health insurance, almost all universities do. In the case of an emergency, this insurance helps to pay unexpected medical costs. However, not having health insurance can harm your health and financial well-being in a foreign country. In addition, the high healthcare expense can make therapy challenging to pay for, leading to long-term health issues.
Canada
Your medical insurance costs will vary based on the company and package you select. In Canada, basic health insurance costs about CA$500 on average.
The U.S.
In the U.S., health insurance starts from $500-$1000.
5. Other expenses – transportation, utilities, books, and Internet bill
| Other expenses | The average cost in Canada (CAD) | The average cost in the U.S.(USD) |
| Transportation | $140-$200 per month | $150-$250 per month |
| Electricity | $60-$100 per month | $100-$150 per month |
| Heating | $60-$100 per month | $100-$150 per month |
| Books | $500-$1000 per year | $500-$1000 per year |
| Internet bill | $45-$80 per month | $45-$100 per month |
| Clothes | $500 per year | $500 year |
*Note – This is just the approx. based on my research, The above figures may vary depending on one’s lifestyle and location.
Now let me tell you my living expense in Canada. First of all, why I Chose Canada, the reason is more affordable, and I can work up to 20 hours per week while studying. The post-graduation work permit is an essential part of Canada’s immigration system since it allows students to work in Canada for up to three years and help to gain valuable Canadian experience. Furthermore, it acts as a first step toward long-term residency and citizenship.
Recently, IRCC announced students could work more than 20 hours a week between November 15, 2022, and December 31, 2023.
My expenses in Canada per month
I’ve been sharing a rented basement for housing. Without utilities, which range from $50 to $60 a month and include water, heating, and electricity, the cost is $350.
Unfortunately, my college is somewhat far from the accommodation. I did, however, get the $128 monthly pass.
If I talk about groceries, my roommate and I bring groceries in common, costing around $120-$150 per month per person. To save money, I always shop on sale and from thrifty stores such as Walmart, Basic food, and No frills.
While the Internet bill costs $79 per month. Other cheap plans are also available, and you can opt for them. When I came to Canada, I used fido, which only costs $45 per month. It has one of the cheapest plans. A few of my friends use other plans under $40, so look for good deals before activating your phone plan.
I don’t have expenses for books as my college provides material electronically. Though I am doing architecture, sometimes we have to make models, and stationery is quite expensive here. It costs around $50-$60, while other expenses, such as clothes, entertainment, and coffee, are $100 per month.
How to save money as a student
As a student, I always try to minimize my expenses and set a budget every month. Below are a few ways I implement that make student life easier and help me pay off tuition fees.
By doing a part-time job on or off campus, you can support yourself financially in Canada, whereas In the U.S., you can do an on-campus job.
Refrain from spending on daily takeaways and restaurant meals, and learn to cook, which will save a lot.
Use cheap Transportation or take a transit pass and try to find accommodation near your college—commute by walking to nearby places.
Buy from thrift stores, on sale, and special offers. Refrain from buying unnecessary things, and use coupons wherever possible.
Colleges/universities offer scholarships for international students, so check online and apply for them.
