Masters Funding in Canada – 2026

Masters funding for international students in Canada

As an international student, you will not have access to the same public funding as Canadian postgraduates, so government loans are usually not an option. Don’t worry, there are plenty of other ways to fund your Masters. Several scholarships exist specifically to support international students at Canadian universities.

Government and provincial scholarships

Global Affairs Canada (GAC) offer a range of scholarships for international students, including some for Masters study. Provinces and territories may also provide awards for talented postgraduates. Check the GAC website or contact the relevant provincial Department of Education for details.

Funding through international partnerships

Canada has exchange programmes and partnerships with other countries. For example:

• AUF, the Agence Universitaire de la Francophonie - Offer bursaries for francophone students to study in Canada for up to 10 months.
• Fulbright Canada - Support US students studying in Canada.

You can also check with your local Canadian embassy or consulate for additional opportunities.

University scholarships

Many Canadian universities offer their own scholarships for international Masters students. Availability varies, so check each university’s website or contact them directly. You can also use FindAMasters.com to search for courses and funding details.

Bursaries

Bursaries are awarded based on financial need. You will usually need to provide income information for yourself or your parents. The award amount depends on the provider’s criteria.

Student loans

International students can take out loans from banks or private lenders. Interest rates and repayment schedules apply, so plan carefully to avoid debt. Some banks offer student-friendly rates, but you still need to manage repayments responsibly.

Masters funding from Canadian research councils

Government grants and loans aren’t the only form of funding available to you as a Masters student in Canada.

Like the UK, Canada operates publicly funded research councils, providing support for academic work in specific fields. Their responsibilities include providing support to future researchers – like you!

Most postgraduate funding from Canadian research councils is directed at PhD-level research, but some programmes are available specifically for Masters students.

Canada Graduate Scholarships-Masters Program

The Canada Graduate Scholarships-Masters Program (CGS-M) is offered by Canada’s three main research councils, in collaboration. It provides merit-based support of CAD $27,000 for up to 3,000 Canadian students each year, studying postgraduate courses at eligible Canadian higher education institutions. A broad range of subject areas are supported, including some professional qualifications.

Accelerate Program

The Accelerate Program provides opportunities for fully-funded, four-month research and development business-oriented internships for Masters students with a stipend of CAD $10,000. Domestic and international students are eligible.

Other Masters scholarships from the Canadian research councils may also be periodically available. You can check for these on the individual websites of the Natural Sciences and Engineering Research Council, the Social Sciences and Humanities Research Council and the Canadian Institute of Health Research.

Government funding for domestic Canadian Masters students

The Canadian government provides grants and loans for domestic students. Funding may come from the federal government, or from provincial or territorial student finance bodies. In some regions, both sources are available.

The type of funding depends on your province or territory of residence, not where you plan to study:

• Students from the Yukon may only apply for grants or loans from the federal government.
• Students from Nunavut, the Northwest Territories and Quebec may only apply for grants or loans from local finance authorities.
• Students from Alberta, Manitoba, Nova Scotia and Prince Edward Island may apply for funding from the federal government and / or local finance authorities.
• Students from British Columbia, New Brunswick, Newfoundland and Labrador, Ontario and Saskatchewan may apply for funding jointly offered by the federal government and local finance authorities.

Provincial and territorial grants

The Northwest Territories, Nunavut, and Quebec do not participate in the Canada Student Loans programme. They offer their own Masters grants, with similar eligibility criteria and application processes.

The Northwest Territories, Nunavut and Quebec do not participate in the Canada Student Grants programme (or the Canada Student Loans programme).

• Students from the Northwest Territories should apply for Masters grants via the Department of Education, Culture and Employment’s Student Financial Assistance website.
• Students from Nunavut should apply for Masters grants via the Department of Family Services website.
• Students from Quebec should apply for Masters grants via the Aide financière aux études website.

Loans for Canadian Masters students

There are two main types of student loan available for Masters degrees in Canada: the Canadian government’s national Canada Student Loans scheme and alternative schemes offered by local provincial or territorial student finance bodies.

The type of loan you apply for will depend on the Canadian province or territory in which you are normally resident (not that in which you are applying to study).

Canada Student Loans

Canada Student Loans are awarded by the Canadian federal government. They provide need-based finance for students at all levels of university study, including Masters degrees.

Availability

Canada Student Loans are available in 10 of Canada’s 13 territories (Quebec, Nunavut and the Northwest Territories are solely covered by their own student loan systems).

Regardless of the system used in your province, your Canada Student Loan will be handled by the National Student Loans Service Centre (NSLSC).

Eligibility criteria

In order to be entitled to a Canada Student Loan you must:

• Be a Canadian citizen (or otherwise have the right to live and remain in Canada).
• Be a permanent resident of a province or territory in which the Canada Student Loans system is offered.
• Be studying on a full-time or part-time basis at a recognised university.
• Demonstrate financial need. Amounts for Canada Student Loans are calculated using need-based criteria. The amount you can borrow will take into account your economic circumstances and background.
• Pass a credit check if you are over 22 and have not previously taken out a Canada Student Loan.

Payment of loan instalments in successive years of your programme may also depend on your making satisfactory academic progress.

Loan amounts

Canada Student Loans do not award a set amount to all students.

Instead loans are need-based, taking into account your personal background and financial circumstances. Other factors may include your mode of study, the province or territory you are studying in and the actual cost of your course (together with associated expenses).

Applications

Applications procedures for Canada Student Loans vary slightly between participating provinces and territories. You can check the Canadian government’s application guide to find out what process applies in your case.

Repayments and interest rates

Unlike student grants, Canada Student Loans must eventually be repaid in full. (Note that this applies even if you do not complete your Masters degree.)

There are three main periods involved in your loan:

• During your programme your loan is interest-free and repayments are not required.
• Upon completion (or termination) of your programme the interest-free period for your loan will end and interest will begin to be charged on your loan debt.
• Six months after you complete or exit your programme you will be required to begin repaying the loan principle and any interest it is accruing.

Interest rates for Canada Student Loans may be either fixed or variable. You can read more about current rates on the Canadian government’s website.

Provincial and territorial loans

Some provinces and territories offer their own student loans, which may work alongside or instead of the federal system.

Availability

Seven of Canada’s provinces and territories offer their own student loans:

• In Alberta, Manitoba, Nova Scotia and Prince Edward Island, provincial and territorial loans are offered alongside the federal government's Canada Student Loans.
• In the Northwest Territories, Nunavut and Quebec, provincial and territorial loans are the only student loans available.

Eligibility is similar, you must live in the province, study at an approved institution, and show financial need.

Check your province’s student finance website for details on how to apply.

Frequently asked questions