Financial Matters
Foreign Exchange
The Canadian dollar (CDN) is the only currency commonly accepted across Canada. You can exchange most currencies for Canadian dollars at most commercial banks. For up-to-date values for converting currencies, click here.
Major credit cards such as Visa, MasterCard or American Express are widely accepted.
Estimated Expenses
The following is an estimate of the average range of costs, calculated in Canadian dollars, for attending Ryerson. This is based on a 12-month period from September to August.
Expense |
Low $ |
High $ |
| Fees* |
19,293 |
29,000 |
| University Health Insurance Plan** |
684 |
684 |
| RSU Member's Health & Dental Plan** |
295 |
295 |
| Books, Supplies, Course Materials, lab fees, academic field trips, etc.** |
1,000 |
5,000 |
| Accommodation*** |
9,000 |
13,500 |
| Food |
3,500 |
5,400 |
| Clothing**** |
1,200 |
2,000 |
| Transportation***** |
1,250 |
2,400 |
| Incidentals |
2,000 |
3,200 |
| Total |
$38,222 |
$61,479 |
All fees are subject to change without notice.
*Exact fees vary by student and program.
***Does not include hydro or utilities costs, which may not be included with rent.
****Costs vary depending on the need to purchase seasonal clothing.
*****Costs for traveling
within City of Toronto; may vary for traveling outside of the Greater Toronto Area (GTA). |
Exact fees vary by student program and Fee Statements will be available on RAMSS sometime between June and July.
There are several ways to transfer money to Canada, including bringing travelers' cheques, a bank draft or having a telephone or cable transfer of funds from your bank at home to the Canadian bank where you open an account. Remember to inquire about the service fees and length of time required for each transaction.
Sales Tax: The harmonized sales tax (HST) of 13% is charged on most purchases. The prices quoted in stores, restaurants, hotels, etc. are base price, so keep in mind that an additional 13% will be added on when you pay for an item.
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Scholarships and Bursaries
All international students are encouraged to contact the education ministry or department of their country's government to determine the availability of scholarships and loans. If funding from a home government is to be received, please contact the Student Fees Office for information about Ryerson's payment procedures.
As an international student, you must have proof of sufficient funds for the duration of your studies before receiving a Study Permit from Citizenship and Immigration Canada. Limited financial assistance opportunities exist for international students registered at Ryerson. Click here for more information on financial assistance available to international students.
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Banking
There are six major financial institutions near Ryerson:
Normally banks are open from 9:00 a.m. - 4:00 p.m. except on Thursdays and Fridays when they are generally open later. Most banks open on Saturday mornings but it depends on the particular branch. Automated Teller Machines (ATM) are located outside the banks and are accessible at any hour. There are three bank machines located in Jorgenson Hall. Two are on the first floor of Jorgenson Hall, the other is on the lower level of Jorgenson Hall.
Most banks charge a monthly service fee. To open a bank account, take a valid passport as well as Ryerson student ID card or your Study Permit document (in cases of Student ID not being available yet) to the bank or credit union of your choice.
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