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7 Best Universities in Canada for International Students: Rankings and Financial Aid

Canada is one of the most popular destinations for international students. It is renowned for its world-class education system, comparatively affordable tuition fees, multicultural environment, and high standard of living. 

As reported by Erudera, the majority of international students in Canadian higher education during the 2020/21 academic year were enrolled in bachelor’s degree programs, with 160,842 students—a 3.7% increase from the previous year. 

This highlights the global appeal of Canadian universities, which offer diverse study programs and excellent pathways for international students to achieve their academic and career goals. 

Moreover, Canada’s welcoming immigration policies make it easier for students to work during their studies and transition to permanent residency after graduation, further enhancing its appeal. 

In this blog post, we will explore the top 7 universities in Canada for international students, their rankings, financial aid options, and unique features that set them apart.

Why Should You Study in Canada as an International Student?

There are various reasons why you should study in Canada as an international student, which all boil down to their education quality, cost of living, tuition fee, work opportunities, and many more. 

In terms of quality of education, Canada is considered to be one of the most educated in the world, with about 57% of its adults having attained at least an undergraduate degree, according to research by OECD in 2022. 

Furthermore, compared to other Western countries like the UK and the US, Canada has a low cost of living and tuition fees, especially for international students; there are a lot of chances for them to apply for scholarships. 

Even with the scholarships, international students can benefit from the Post-Graduation Work Permit (PGWP) pathways to permanent residency and many other hidden opportunities.

Financial Aid Opportunities for International Students in Canada

Canadian universities offer numerous financial aid programs to support international students if they are eligible. Some of these programs include the following options, which are listed below:

1. Government-Funded Scholarships

Government-funded scholarships are financial aid sponsored by the Canadian government. These aids include the Canada Graduate Scholarships (CGS) and the Vanier Canada Graduate Scholarships, which support students pursuing advanced studies. 

The CGS is designed for graduate students enrolled in research-based programs, promoting academic excellence and innovation. The Vanier Scholarship, on the other hand, is aimed at doctoral students and offers up to $50,000 annually, providing substantial financial support to attract and retain top-tier international and domestic talent at Canadian institutions. 

2. University-Specific Scholarships 

These are aids directly from institutions to support students’ academic pursuits. Most universities offer entrance scholarships, merit-based awards, and need-based aid tailored for international students. These scholarships aim to attract talented individuals and provide equitable access to education for students from diverse backgrounds.

3. External Scholarships 

External scholarships are opportunities funded by organizations outside the university. Notable examples include the Trudeau Foundation Scholarships, designed for doctoral students in social sciences and humanities, and the Canadian Commonwealth Scholarship Program, which supports students from Commonwealth countries pursuing higher education in Canada. 

4. Work-Study Programs 

Work-study programs provide international students with opportunities to work on campus or participate in cooperative education (co-op) programs. These initiatives enable students to earn money while studying, gain practical experience, and build valuable skills, making education more affordable and enriching their academic journey.

Top Universities in Canada for International Students

1. University of Toronto 

The first university on our list is the University of Toronto, which is Canada’s top-ranked institution and is globally recognized for its research, innovation, and academic excellence. 

According to the QS World University Rankings, the University of Toronto is ranked 21st in the world in 2023 and first in Canada.

Primarily located at 315 Bloor Street W, Toronto, Ontario, M5S 2J7, Canada, the university offers a wide range of programs across disciplines such as engineering, business, medicine, and social sciences.

Additionally, such a prestigious university like the University of Toronto cannot function without financial aid for international students. 

Some of the aids available include the Lester B. Pearson International Scholarship, which covers the tuition, books, and living expenses for outstanding international undergraduate students.

In addition, other aids, such as entrance scholarships and need-based financial aid, are also available for international students in the institution.

2. McGill University

Secondly, we have McGill University, located in Montreal, Quebec, which is one of Canada’s oldest and most prestigious universities. 

According to the QS world ranking, McGill University ranked 30th in the world in 2024, following the University of Toronto. 

McGill University is widely regarded for its programs in medicine, law, and business, which are offered in both English and French.

Additionally, the city where the university is situated also has an affordable cost of living that is manageable for international students compared to other major cities in Canada.

In terms of financial aid, the university has many options, such as the entrance scholarship for international students, ranging from $3,000 to $12,000 for new students.

In addition, the McGill Financial Aid Program also provides need-based aid to students, including qualified international students.

3. University of British Columbia

The next on our list of the best universities is the University of British Columbia, located in Vancouver and Kelowna, British Columbia. 

According to the QS university world rankings, the University of British Columbia is ranked 34th in the world and ranked 3rd in Canada.

Additionally, the university is ranked 24th globally for its engineering and technology courses as of 2024.

The University of British Columbia is renowned for its research output, sustainability initiatives, and stunning campuses. 

In terms of financial aid, there are a couple of them in the university, such as the International Major Entrance Scholarship (IMES), which is for outstanding international undergraduate students, and the Donald A. Wehrung International Student Award, which covers tuition and living costs for students from war-torn or economically disadvantaged regions.

4. University of Alberta

The next university on our list is the University of Alberta, which is located in Edmonton, Alberta, and ranked by the QS World University Ranking in 2024 as the 110th university and the 4th in Canada, following the University of British Columbia.

The University of Alberta is known for its research excellence in fields such as energy, artificial intelligence, and health sciences. 

Additionally, its affordable tuition fees and scholarships also make it an attractive option for international students.

When it comes to financial aid, the University of Alberta has a couple of them, such as the International Undergraduate Scholarship, which is a merit-based award ranging from $5,000 to $15,000, and the Graduate Entrance Scholarships for exceptional international graduate students.

5. University of Waterloo

Next, we have the University of Waterloo, located in Waterloo, Ontario. According to the QS World University Ranking, it is ranked 112th and 5th in Canada.

The University of Waterloo is globally renowned for its co-op programs, which integrate classroom learning with paid work experience. 

It is a leader in STEM fields, particularly engineering, computer science, and mathematics.

Just like the previously mentioned universities, the University of Waterloo also has some financial aid available for international students, such as the International Student Entrance Scholarships that award up to $10,000 for exceptional undergraduate students and the work-study programs and need-based aid.

6. University of Calgary

Next, we have the University of Calgary, located in Calgary, Alberta. Founded in 1908, the University of Alberta was formerly the Calgary branch before gaining its independence in 1966. 

According to the QS World University Ranking, it is currently ranked 6th in Canada and 182nd in the world in 2024.

The University of Calgary is renowned for emphasizing research, especially in the fields of energy, environmental sustainability, and health sciences.

Calgary is a desirable location for international students due to its strong economy and excellent standard of living. 

The university also has various financial aid programs, such as the International Entrance Scholarships, which award up to $15,000, and other graduate scholarships for research-focused programs.

7. Simon Fraser University 

The last one is Simon Fraser University, which is situated in British Columbia’s Vancouver. It is ranked 7th in Canada and 318th globally in the 2024 QS World University Ranking.

Simon Fraser University is well-known for its emphasis on entrepreneurship and cooperative education initiatives. Offers creative programs, interdisciplinary research opportunities, and flexible learning options, such as online and hybrid courses.

It is also situated in one of the most livable cities in Canada.

When it comes to financial aid, the university has scholarships and opportunities such as the Undergraduate Scholars Entrance Scholarships, which are merit-based awards of up to $10,000, and bursaries and work-study opportunities for students demonstrating financial need.

Final Thoughts

In summary, Canada’s top universities provide a perfect blend of academic excellence, affordable education, and a welcoming environment for international students. 

From the research-intensive University of Toronto to the co-op-driven University of Waterloo, each institution offers unique advantages. 

With numerous scholarships and financial aid options available, international students can achieve their academic goals while minimizing financial strain.

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