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Financing Your Participation

Ryerson FCAD student, Jackie Jabson, poses with a group of friends during trendwatching short-term program in Stuttgart, Germany.

There are four main aspects to financial planning for global learning programs:

  1. Funding Opportunities
  2. Know Your Costs
  3. Create a Budget
  4. Start Saving

The earlier you start planning, the better prepared you will be for financing your participation.

Funding Opportunities

Be sure to check out Ryerson’s new central award management system, AwardSpring! All funding at Ryerson is transitioning to a central repository where students will be able to identify the funding opportunities they are eligible for.

For application questions about the following list of funding opportunities administered by Ryerson International, please email rihelp@ryerson.ca.

Program 

Due Date

Amount 

PDF fileGlobal Learning Award - supports student participation in research, conferences, internships, placements, and Global Learning Programs Abroad (GLPA) led by faculty and staff at Ryerson. 

TBD

Up to $1,000

PDF fileRyerson International Exchange Opportunity Scholarships (RIEOS) supports student participation in an academic exchange with one of Ryerson’s 75+ partners during a semester or academic year program.

January 31, 2020

(same date as exchange applications)


$2000

Scotiabank Mobility Scholarship has been generously provided by Scotiabank to encourage the participation of students in undergraduate business and economics programs in international education activities. (Guidelines will be available in November)

April 2020 (Date TBD)

$2,500

While the funding listed below are some of the major programs available there are a lot of other types of grants and awards that are available to students within particular academic programs and schools.

Program 

Faculty

Due Date

Amount 

Global Exchange Award: supports students participating in a learning exchange opportunity. 

Faculty of Arts

August 2020 (TBD)

$2,000

FCAD Passport Fund: aims to help students interested in experiential learning opportunities with financial support

FCAD

TBD

Up to $2,000

Student Researchers Support: Check out OVPRI’s list of funding opportunities for students participating in research opportunities locally and abroad. 

University Wide

Varies by fund

Varies by fund

RGSU Career and Academic Support Program, external link, opens in new window: supports graduate students with travel related expenses who are presenting their research at academic events (e.g., conferences, seminars). 

University Wide 

Rolling basis between May 2019 - April 2020

Up to $500

Ryerson Graduate Student Travel Funding: is intended to encourage graduate students to present their research at a local or international conference or equivalent academic event.

University Wide

No deadline (first come, first serve basis)

Up to $500

Program 

Destination

Due Date

Amount 

SWEA International Toronto Scholarship offer students pursuing an exchange program with a Swedish University. For application details, please email: rihelp@ryerson.ca 

Sweden

May 2020 (TBD)

$2,000 CAD

EduCanada, external link, opens in new window: offers a wide range of funding opportunities for Canadian undergraduates, graduate students, PHD candidates and professionals

China, India, New Zealand, Korea, etc.

Varies

Varies

DAAD, external link, opens in new window: offers funding opportunities for undergraduates, graduate students, PhD candidates, Post Docs, and faculty to help make your plans in Germany a reality.

Germany

Varies

Varies

BUTEX Scholarship, external link, opens in new window: Each year BUTEX awards a number of scholarships to students studying abroad for either a semester or for a whole academic year to promote learning abroad in the UK.

United Kingdom

June 2020 (TBD)

£500

Know Your Costs 

The cost of global learning programs varies. However, there are opportunities out there to suit every budget. Your first step should be to figure out the cost of your program! Keep these things in mind when comparing program costs:

A good first step in evaluating program costs is determining your total costs here at Ryerson, in Toronto. This is particularly important if you’re going on exchange. Knowing how much you spend during a semester here should give you a good base-line for what your spending and living habits are like. You can then make an informed decision about how much you’re willing to spend on going abroad.

Depending on where you’re going, longer programs can be comparable in cost to shorter programs. Lots of one-time expenses, such as airfare, mean that you can get more value for your money the longer you stay in one location. However, short-term programs may give you more flexibility in returning to work in Toronto and saving up money. Programs in summer may also be more expensive than those in the fall or winter, depending on the location.

Certain destinations can be more expensive relative to other destinations.  This is especially true if you’re living there for a while. Making sure you understand the cost of living at a destination is key to successful financial planning. Numbeo, external link, opens in new window is a great resource to help you determine the cost of living in different cities around the world. You should also check out the google sheetPer-Term Cost Estimates for Ryerson Exchange Destinations, external link, opens in new window.

If you’re participating in a program that charges a program fee, it’s important to understand what is and isn’t included. Housing and meals may be included, and may be cheaper than if you had to pay for this on your own. Remember to include all of this when comparing program costs.

It is important to note that going on exchange doesn’t limit your ability to apply for student loans. Check with Student Financial Assistance before applying for more details. Note that the difference in start and end dates can sometimes result in a change in student loans (either reduction or increase).

One of the biggest considerations for going abroad is income - before you leave, during your program, and after you return. Check out the section below for some scholarship and funding opportunities offered by Ryerson International.

Some things to consider: 

  • How will your participation affect your job? Will you be able to work at the same place when you return?
  • What are the rules around working as a student or visitor in your destination?
  • Does your program come with funding attached?
  •  Are there discounts on tuition or fees because of partnerships agreements. 
  • What scholarships can you apply for? 
  • Do you have savings you can tap into while you’re abroad? Are you able to get funding from family while you’re abroad?

Create a Budget

Once you’ve selected a program that’s a good fit for you financially, the next step is to create a budget. Check out this comprehensive article on Budgeting for Exchange, opens in new window written by a past Ryerson exchange student to get you started. Not going on exchange? The principles are still the same!

Start Saving

Now that have a budget, it’s time to start saving for your global learning experience. The sooner you start the better. In this blog post titled RU Debt Free? Tips on Saving and Budgeting for Exchange, opens in new window, the RU Debt Free program coordinator gives some great advice for financial planning for exchange. 

One last tip: If you will be gone for an extended period of time, try to save enough money to cover your costs while you’re away and the living costs for a month or two when you return. You don’t want to get back to Toronto without a way to pay your rent.