Tuition costs in the United States
Paying for your education in the United States is arguably the hardest part for prospective Canadian students, even with student aid.
This is due to a combination of the exchange rate between two currencies, the view that university is a luxury rather than a necessity, and a culture of accepting debt. Many Americans, almost 52%, had not completed a college level degree. What’s more, only 28% held a Bachelor’s Degree, according to the United States Census Bureau.
This places a premium on upper level education. Student aid aims to uplift students who might otherwise not be able to access a university or college level education.
Your fees will also depend on whether you’re looking at publicly or privately funded schools. Public universities tend to be cheaper. Private options command higher tuition, but ideally give back through a combination of reputation, networking and quality. Finally, you have private for-profit institutions.
Tuition costs across the three school types during 2022 and 2023 for a four-year degree were:
- Public institutions: $39,000 total, or $9,800 during that year
- Private nonprofit institutions: $122,100 total, or $40,700 during that year
- Private for-profit institutions: $72,800 total, or $18,200 during that year
Meanwhile two-year degrees during the same survey period were:
- Public institutions: $8,000 total, or $4,000 during that year
- Private nonprofit institutions: $39,000 total, or 19,500 during that year
- Private for-profit institutions: $32,600 total, or $16,300 during that year
These data were gathered by the National Center for Education Statistics. Costs were assessed by looking at tuition, required fees, school supplies, room and board and other expenses.
It’s also important to remember that the Canadian dollar doesn’t go as far in the United States. If you’re relying on funding delivered purely in CDN, you should keep a close eye on the exchange rate.
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Start Trading TodayHow to pay for school in the United States
The smart way to pay for university in the United States is by combining as many student aid funding streams as possible.
Here are a few ideas to get you started:
- Check if your provincial or territorial student aid can be used to pay for schooling in the US (i.e. OSAP) funding can be applied to any school in this database)
- See if a tuition reciprocity program exists between your province or territory and a corresponding state (e.g. the Manitoba-Minnesota Reciprocity agreement)
- Look for scholarships offered by not-for-profits, trusts or with connections to the Federal government (e.g. the Mackenzie King Memorial Scholarship for graduate students)
- Dig into state specific programs that can waive or reduce out-of-state tuition fees (e.g. the Florida-Canada Linkage Institute)
- Search for scholarships, grants and bursaries at your US school of choice
Through combining these student aid packages you can start to cobble together payment for studying in the US. It’s also a good idea to get a part-time job if possible. Keep in mind that you’ll be limited to working 20-hrs per week with an F-1 visa.
Lastly, those lucky enough to have dual citizenship can apply for federal assistance through the Free Application for Federal Student Aid (FAFSA) program.
Financial Aid for Canadian students studying in US
Now that you have an idea of what it takes to study in the US, let’s take a look at some of the best scholarship packages available to Canadians.
Note that many financial student aid packages are targeted at Master’s or Ph.D. level candidates, not undergraduate students.
The Fulbright Program
The Fulbright program is a long-running Canada-US residential exchange program targeting graduate students, prospective graduate students and junior professionals.
This is a prestigious and competitive option. The benefits can be worth it, however. Options include:
- Fulbright Canada Student Awards: USD$25,000 in student aid for the academic year for any discipline
- Fulbright Canada Student Entrepreneurship Awards: USD$25,000 in student aid for the academic year for entrepreneurs
- Fulbright Canada - Honouring Nations Awards: USD$25,000 in student aid for the academic year for those focusing on critical indigenous issues
Applications for the next academic year typically open in May with grant funding beginning that same September.
Those who already have a Ph.D should instead apply for the Fulbright Scholar Program, which at the time of writing includes nine additional scholarship opportunities.
The Organization of American States (OAS) Academic Scholarships Program
Another option is to work with the Organization of American States, which provides both undergraduate and post-graduate scholarships.
Many of the OAS’ scholarships are targeted at English-speaking parts of the Caribbean and Suriname. However, the Partnerships Program for Education and Training program works with any academic institution partnered with the OAS.
You can snag up to USD$10,000 for one academic year, provided your university of choice is on this list of members. Typically OAS encourages submitting applications to a minimum of two partners.
Other scholarship opportunities
We also suggest taking a deep dive into EduCanada’s scholarship search function.
There’re plenty of scholarships available. It just takes some effort to find the right one for you. For Ph.D. students we suggest taking a look at the Vanier Canada Graduate Scholarship or the Banting Postdoctoral Fellowship.
Apart from these general pools you’ll need to look up your university of choice and dig into their scholarship information.
Lines of Credit
Your final option for student aid would be to take out a student line of credit. One of the most popular options is the Royal Bank of Canada’s Royal Credit Line for Students Studying Abroad.
One of the big benefits is RBC’s cross border banking program. However, most banks offer student aid in the form of a line of credit. For more on the best loans for students check out Money.ca’s coverage, including lines of credit.
Just keep in mind that managing student aid in this way requires much more discipline and financial literacy compared to more traditional routes.
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Get A QuoteConclusion
Canadians trying to study in the US face an uphill battle, but the higher your level of education the more opportunities present themselves.
It’s also important to remember why working in the US as a University educated professional is so desirable.
The top 20% of the US workforce makes much more than their counterparts. Likewise, the US is a massive market and a nexus for innovations across tech, business and policy. Many of the biggest companies in the world have roots in the US.
It also helps that the US dollar is the golden standard around the world.
Getting paid in that currency has a corresponding increase on your global buying power.
FAQs
Can Canadians get financial aid in the US?
Canadians can apply for financial aid in the US, but can’t apply for the Free Application for Federal Student Aid (FAFSA).
However, some student loan packages in Canada can be applied to international study. What’s more, there tend to be scholarship opportunities on both sides of the border to encourage students to make the leap.
As a last resort a personal loan can be used to help pay for schooling. There are also student lines of credit available, which require higher financial literacy to manage.
Can a Canadian get a scholarship to an American university?
Getting a scholarship to an American university is one of the best ways for Canadian students to access the American educational system.
With this in mind we suggest putting together a combination of scholarship opportunities both in Canada and the United States. You should also make sure to have the following documents on hand for both applications and scholarships:
- SAT or ACT test scores
- A TOEFL or IELTS English proficiency test
- Letters of recommendation
- A personal essay
- All your visa essentials (including Canadian passport)
It also helps to look for targeted scholarships. Marginalized groups or male-dominated fields often have scholarship opportunities geared towards increasing professional diversity.
Can a Canadian get a US student loan?
In short, no. Canadian citizens can’t access loans from Federal or State governments. Those funds are earmarked for US citizens.
With that being said, you could instead look into whether taking out a student loan in Canada can be applied to US schooling. This is the case for schools on the Ontario Student Assistance Program (OSAP)’s approved schools list.
Sources
1. Top Universities: The world's top 100 universities
2. United States Census Bureau: Census Bureau Releases New Educational Attainment Data
3. National Center for Education Statistics: Tuition costs of colleges and universities
4. Ontario: Study abroad
5. Ontario: School search
6. Manitoba: Advanced Education and Training
7. Manitoba: Advanced Education and Training
8. University of Cental Florida: Florida-Canada Linkage Institute
9. International Student: Working in the USA
10. Federal Student Aid: Home page
11. Fulbright Canada: Fulbright Canada Student Awards
11. Fulbright Canada: Fulbright Canada Student Entrepreneurship Awards
12. Fulbright Canada: Fulbright Canada - Honouring Nations Awards
13. Fulbright Canada: Fulbright Scholar Program
14. OAS: Partnerships Program for Education and Training
15. OAS: OAS Consortium of Universities
16. EduCanada: Search for scholarships
17. Government of Canada: Vanier Canada Graduate Scholarships
18. Government of Canada: Banting Postdoctoral Fellowships
19. Royal Bank: Royal Credit Line for Students Studying Abroad
20. Government of Ontario: OSAP School Search
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