Understanding the Cost of Attendance at the University of Toronto
The University of Toronto (U of T) stands as one of Canada's most prestigious universities, attracting students from across the globe. However, the cost of attendance is a significant factor for prospective students to consider. This article provides a comprehensive breakdown of the expenses associated with studying at U of T, covering tuition fees, living costs, and available financial aid options.
Tuition Fees: Domestic vs. International Students
Tuition fees at U of T vary significantly depending on whether you are a domestic (Canadian citizen or permanent resident) or an international student, as well as the specific program of study. As a publicly funded Canadian university, U of T's tuition for domestic undergraduates is subsidized by the government. In contrast, international fees are not regulated, resulting in much higher costs.
Domestic Students: For a standard arts or science program, domestic fees are approximately CA$6,000-$6,500 per year for an Ontario resident (slightly higher for out-of-province Canadians). Certain programs are higher. For example, engineering undergraduates from Ontario pay about CA$14,180 annually, with out-of-province Canadians paying around CA$14,600.
International Students: U of T’s international fees are among the highest in Canada. Most international undergraduates can expect to pay on the order of CA$60,000+ per year in tuition. In the Faculty of Arts & Science, an international student paid about CA$59,320 in tuition for 2022-23 - an amount that has since risen to roughly CA$61,000 or more in 2024-2025. Premium programs cost even more: international tuition in U of T’s engineering faculty is about CA$63,500 per year.
The gap between domestic and international fees is substantial because provincial subsidies keep Canadian student fees low, whereas international fees reflect the “full cost” and market demand for a top-ranked university.
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Here is a summarization of annual undergraduate tuition for some key U of T programs, with separate columns for domestic vs. international rates (current as of the 2024-2025 academic year):
| Program | Domestic (CAD) | International (CAD) |
|---|---|---|
| Arts & Science | ~6,000 - 6,500 | ~61,000+ |
| Engineering | ~14,180 - 14,600 | ~63,500 |
| Medicine (MD -Postgraduate) | ~23,000 | Very High (Limited Seats) |
Graduate Program Fees:
Graduate program fees at U of T vary widely by field and program type. Most Master’s and PhD programs with a research/thesis component charge relatively modest tuition. Domestic graduate students typically pay around CA$8,000-$12,000 per year for full-time study (often closer to CA$6k for PhDs, as U of T now charges international PhD candidates the domestic rate). International students in research programs pay a supplement - roughly CA$8,000-$25,000 per year in tuition, depending on the faculty. For example, an international research Masters might be around CA$17k-$25k annually, and PhD around CA$8k (often covered by funding). Professional Masters (course-based) and other specialized graduate programs often have much higher fees. For instance, the Rotman MBA costs about CA$68,000 per year for international students (around CA$136k total for the 2-year MBA). Domestic MBA fees are somewhat lower (approximately CA$50k/year). Other expensive programs include Master of Laws (LL.M.) at ~CA$51,500 for internationals (one-year program) and Master of Finance at ~CA$45,600. Engineering master’s: a one-year M.Eng can cost on the order of CA$60k for international students (and ~CA$18k for domestic).
In summary, postgraduate tuition ranges from roughly CA$10k a year (for domestic research students) up to CA$60-$70k per year (for internationals in premium programs). Most academic (thesis-based) grad programs are at the lower end of costs, while MBAs and similar professional degrees are at the high end.
Living Costs in Toronto
Tuition is only part of the cost of studying at U of T. Living in Toronto can be expensive, and students need to budget for accommodation, food, transportation, health insurance, books, and personal expenses. The University of Toronto’s cost estimator suggests that, excluding tuition, students should budget approximately CA$10,000 to $16,000 per academic year for living costs. That works out to about CA$1,100-$1,800 per month during the school year.
Here's a breakdown of typical student living costs at U of T:
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| Expense | Estimated Cost (CAD) |
|---|---|
| Accommodation (Housing) | On-Campus Residence & Meal Plan: CA$15,000-$20,000 per academic year (8 months) - varies by college and room type. Off-Campus Rent: CA$1,000-$1,500 per month (shared apartment); up to $2,200+ for a single apartment. |
| Food | If in residence, meal plan often included in above. Otherwise, groceries about CA$400/month on average. Dining out occasionally can add ~$150-$250/month. Estimate: CA$3,000-$5,000 per year for food. |
| Local Transportation | U of T students get a discount on the TTC transit pass. A post-secondary monthly pass costs CA$128.15. Over 12 months that’s ~CA$1,540. You may spend less if you live on campus or walk/bike. |
| Health Insurance | UHIP coverage is mandatory for international students. Cost is CA$756 per year for a single student. (Provincial health insurance covers domestic students, so they don’t pay this.) |
| Books & Supplies | Varies by program; plan for CA$1,000-$1,500 per year for textbooks, course materials, and basic supplies. |
| Personal Expenses | Varies widely; budget for personal items, clothing, recreation, and phone bills. |
Living costs can vary significantly depending on personal choices. For example, choosing a U of T residence can simplify budgeting since housing and food (meal plan) are bundled - for 2024-25, residence + meal plan at St. George campus ranges from about CA$19k up to CA$21k for 8 months. Sharing an off-campus flat with roommates and cooking your own meals might be more economical.
Toronto has an extensive public transit system (subway, buses, streetcars). Many students use the TTC monthly pass. If you live near campus, you might walk or cycle and spend less on transit.
UHIP is the University Health Insurance Plan - a basic medical insurance for international students. It covers doctor visits, hospital care, etc., in Ontario. The annual premium of ~$756 is usually added to your student account each year.
Financial Aid and Funding Opportunities
The University of Toronto offers various financial aid options to help students manage the cost of attendance. These options include scholarships, bursaries, loans, and work-study programs.
Scholarships and Awards: All accepted students are considered for entrance awards. Recipients are notified in their offer of admission. Significant financial top-ups are offered to holders of certain fellowships and scholarships (CGRS M, OGS, etc). Internal Awards The Department of Computer Science and the University of Toronto are proud to offer entrance awards to outstanding applicants. Prospective students do not need to apply for these awards as they will be nominated by the admissions committee; awards will be included in offer packages.
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Financial Aid for MBA Students: For the Class of 2026, the academic fee component of tuition for Rotman’s two-year MBA program totals to $67,888 (CAD $92,540) for Canadian citizens and permanent residents. Financial assistance is available for students in the form of scholarships and awards, fellowships, government support and loans, and employment opportunities, as well as options for international students. For instance, entrance awards ranging from $10,000 to $90,000 are given to around a third of students. The school also has a Forté Fellowship program. In addition, students who have successfully completed their first year of MBA study may be eligible for in-program Upper-Year awards. In addition to these awards, Canadian students may qualify for provincial government loans or the Ontario Student Assistance Program. Furthermore, teaching and research assistantships are available for some students.
Funding for Computer Science Graduate Students: The Department of Computer Science offers an enhanced funding package above the Faculty of Arts and Science Minimum Financial Support Package. The enhanced package ensure that students have a take-home living allowance of $38,258 after tuition and incidentals are paid. This is composed of research, teaching assistantships, and the Departmental Fellowship. The Department will also provide up to $16,008 CAD (for those admitted in 2025-2026). This fellowship does not require any extra duties on your part. Its only purpose is to support your regular activities of research and study in our graduate program. Students in good academic standing must apply for the Departmental Fellowship, which involves informing the Department of Computer Science Graduate Office of the amount and sources of your external scholarships, external stipends, and external paid employment. If you have such income, the amount of your departmental fellowship may be reduced in whole or in part. All graduate students are required to apply for and accept external awards for which they are eligible. The funding package may be revised at any point to include major awards, including retroactive awards and award upgrades, which are received during the timeframe covered by this funding letter.
External Awards: Students are required to report any such financial awards valued at more than $10,000 CAD to the Graduate Office. Receipts of an external award valued at more than $10,000 may result in a further enhancement to the student’s annual financial support package. For students who win large or multiple concurrent awards, the RAship will be reduced so that either the student's total non-TA funding (including scholarships) is no larger than $60,000, or the RAship has been reduced to zero.
Cost Comparison with Other Universities
It's helpful to compare the cost of attending U of T with other universities, both in Canada and internationally. While U of T's international tuition fees are high compared to other Canadian schools, they may be comparable to those of top-ranked universities in the United States.
Interestingly, some American students find that attending universities in Canada can be less expensive than attending American universities. For example, the total cost of all expenses at Canada's most selective and costly universities, McGill University, the University of British Columbia and the University of Toronto, are roughly $24,000, $25,000 and $27,000 per year, respectively, in US dollars.
Considerations for International Students
International students should also factor in additional costs such as visa application fees, travel expenses, and potential currency exchange rates. It's essential to research and plan for these expenses well in advance.
Rotman School of Management MBA Program
The University of Toronto’s full-time MBA program through the Rotman School of Management is located in downtown Toronto, Ontario. For more than a decade, the Rotman MBA has been ranked as one of the top business schools in Canada by Financial Times. The full-time MBA program breaks down to 16 months of rigorous academic study with a four-month internship opportunity. Students may choose to complete up to two of the school’s 10 emphases to develop specialized skills. The average number of years of work experience among students in Rotman’s MBA program is 5. The Round 1 MBA application deadline is September 10, 2025. The Round 2 deadline is November 19, 2025. The Round 3 deadline is March 4, 2026. The full-time MBA Class of 2026 is comprised of 271 students. Fifty-eight percent of students are international. During their undergraduate years, 34% of new Rotman students had majored in business/commerce followed by 16 percent in engineering. Fourteen percent studied economics. Upon matriculation at Rotman, students averaged five years of full-time work experience at an average age of 28. Twenty-nine percent came from financial services. Sixteen percent each hailed from consulting or tech. Applicants can apply to the full-time MBA program in one of four rounds. The application deadlines fall between September and May. If applications are submitted between rounds, the admissions decision generally follows within eight weeks. Applicants are required to submit transcripts for a bachelor degree or equivalent a GMAT/GMAT Focus or GRE score (some exemptions available), contact information for two references, one written essay, and, if applicable, TOEFL iBT or IELTS scores or an acceptable grade from the University of Toronto English Language Program. A minimum of two years of work experience is required for full-time MBA applicants.
Campus Life and Resources
Knowing what to expect out of campus life at a college or university can set you up for success. The number of student organizations and groups with open membership at this school is 1000. That includes sororities and fraternities. There is a drama club you can join if acting is something that interests you. You have a passion for media and communication? There are phone and alarm devices that can be accessed 24/7 for emergency situations. There is a security patrol that operates around the clock. There is a medical clinic with personal/psychological counseling. At University of Toronto, there is both group career counseling for all students and individual career counseling for all students. There are a library, a job bank, and job fairs. Job interviews are also available to students through the career center. There is campus employer recruitment for all the students. This school offers alumni networking opportunities, which could be highly beneficial for your future career.
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