The Cost of Living in Canada

Are you a driven student with aspirations of studying abroad? If so, you will discover that you have a number of choices in front of you. And while planning for the future might be quite thrilling,. Recently, Canada has risen to the top of the list among foreign countries for students seeking to travel and expand their perspectives. You have the opportunity to pursue a top-notch education in this bilingual nation and gain valuable cultural insight. If you’ve decided to study here, you should be aware of Canadian living expenses.

The Canadian Average Cost of Living

Canada is the second-largest country in the world by land, so costs can vary greatly depending on where you live. For a single person residing across Canada, the average monthly cost of living is projected to be $2370. (Canadian Dollars).

Necessary Expenses

You must take into consideration five standard categories of expenses when figuring out how much it will cost Indian and international students to live in Canada. They are listed below:

Accommodation

Most first-year students choose to live on campus in dorms or residence halls. Common amenities found in the dorms include a kitchen, an entrance, and a laundry room. Depending on the city where your university is located, on-campus housing can run you anywhere from CAD 3000-7000 each year. You can also split the expense of off-campus housing with your buddies. In Canada, Toronto, Vancouver, and Calgary have higher average rents for off-campus housing than most other cities, ranging from CAD 750 to CAD 2200 per month. The homestay option allows international students to reside with a host family in Canada. If you select this option, you must pay a CAD 200 initial placement fee as well as a CAD 750–950 monthly fee, which covers a room and all meals.

Transportation

Trains, buses, and taxis are all part of Canada’s comprehensive transportation network. By presenting a copy of your current college ID, you can purchase monthly bus and train passes at a discounted rate as a student. In general, your monthly transportation expenses could run you anywhere from $80 to $120. 

Food

Food costs are a key factor to take into account when estimating the cost of living in Canada. Depending on whether you decide to remain in privately rented apartments off-campus or on-campus, these will differ dramatically. Meal plans are typically available at universities to students who reside on campus. On-campus food plans might run you between CAD 769 and 1,200 a year, depending on your university. Depending on their interests and likes, students who choose to stay in privately rented facilities incur very different meal costs. By buying groceries from big-box stores and cooking at home, you can cut expenses. For instance, you can receive 15% off your purchases at Banana Republic locations across Canada by presenting your college ID card.

Healthcare

If you plan to study in Canada as an international student, you must own a health insurance plan. Depending on the province in which you reside, the insurance policy’s coverage will vary. If your school is located in an area like Alberta, British Columbia, Quebec, Labrador, Manitoba, Newfoundland, or Saskatchewan, you will be covered by the provincial health plan. If you decide to study elsewhere in the nation, you will need to set up your own private health insurance plan. At the time of admission, you can ask your school about this.

Other Costs

The charges indicated above are not the only living expenses in Canada. You’ll need a robust social life as a student to properly appreciate the nation you’ve chosen to study in. As a result, your expenses will significantly rise. For instance, you’ll need to figure out how much entertainment, shopping for groceries and personal care items, using the internet and your phone, and other costs will cost. Here are some additional costs to take into account when figuring up the cost of living in Canada.