Maple News reports that beginning September 1, 2025, international students applying for a Canadian study permit will need to demonstrate increased financial capacity, with the minimum required funds rising by $2,260. This change aims to ensure students can support themselves independently without relying on employment during their studies. In light of this, it’s increasingly crucial for foreign students to explore available financial aid options that can help ease these financial demands.
There are three primary types of financial aid available to international students in Canada: scholarships, bursaries, and student loans. Among these, scholarships are the most accessible and beneficial, as they don’t require repayment.
Scholarships and grants are awarded by educational institutions, government bodies, private organizations, foundations, and even individuals. These awards are typically merit- or need-based, and the eligibility criteria can vary widely. Common factors influencing scholarship decisions include financial need, academic performance, athletic ability, leadership qualities, participation in extracurricular activities, field of study, and unique talents or background characteristics.
Some scholarships are automatically awarded based on your submitted admission application, while others require a separate and often competitive application process. When applying, students are generally asked to provide supporting documents, such as academic transcripts, letters of reference, a résumé or CV, and a personal essay outlining their goals and qualifications.
It’s essential for applicants to review the specific terms and conditions tied to each scholarship. Some may require maintaining a minimum grade point average (GPA), enrollment in a specific academic program, or commitment to extracurricular involvement.
Besides scholarships, some institutions and provinces may offer bursaries based on financial need, which also do not need to be repaid. While bursaries are more limited in amount compared to scholarships, they can still provide supplemental support.
Additionally, international students may access government or private student loans, though these are less common and usually involve more eligibility restrictions, especially for non-permanent residents.
To begin your search, Maple News recommends utilizing scholarship directories such as those provided by Canadian government platforms, which allow students to filter opportunities based on citizenship, field of study, and country of origin.
As costs rise, taking proactive steps to secure funding is more important than ever. Understanding the types of aid available—and how to apply for them—can significantly improve your odds of thriving academically and financially while studying in Canada.