International student guide to scholarships in Canada
Scholarships are a great way to fund your education abroad, whether in part or in full. And while scholarships tend to be relatively competitive, the good news is many options exist for international students planning to or currently studying abroad in Canada.
All about scholarships
Before we dive into where to look for an international student scholarship, let’s review the differences between scholarships and loans. The first and most apparent difference is that loans need to be repaid, while scholarships don’t. Loans, however, are typically easier to acquire – especially if you work with a lender that specializes in international student loans. Because scholarships never require repayment, they’re much more competitive than loans.
Another difference is that scholarships are usually merit-based, meaning they’re awarded based on exceptional academic achievement or extracurricular involvement. That might sound intimidating, but there are many different types of scholarships – from STEM-focused awards to those based on your home country or future career aspirations.
There are two scholarship categories: partial and full. A partial scholarship only covers part of the cost of your tuition, while a full scholarship covers the full cost. Depending on the scholarship, the funds will either be sent directly to your school or sent to you to use toward your tuition payment. In the latter case, it’s helpful to have a Canadian bank account at the ready to make paying your school’s tuition easy and free of international transfer fees. Learn more about student banking in Canada from our partners at TD Bank.*
Where to find and apply for scholarships
There are many places to look for scholarships, from your school’s financial aid office to online databases. At MPOWER Financing, we offer a handful of scholarship opportunities specifically for international students, including:
-
- Monthly scholarship series: For students who are currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school. New topics are announced each month.
-
- MPOWER Global Citizen Scholarship: For students currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school.
-
- Women in STEM Scholarship: For women in STEM fields currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school.
-
- MPOWER MBA Scholarship: For MBA students currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school.
-
- MPOWER 追梦永不息 Scholarship: For Chinese international graduate students currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school.
- MPOWER Refugee Scholarship: For students fleeing harsh conditions from around the world and coming to the U.S. or Canada for a better future, and currently enrolled in or accepted to a full-time degree program at an MPOWER-eligible school.
You can learn more about our scholarship award amounts, deadlines and eligibility requirements here.
Another reliable place to look for international student scholarships is on the EduCanada website, a government resource hub for Canadian and non-Canandian students. Their scholarship search tool can help you find and apply for verified scholarships tailored to your needs.
Other resources to find scholarships include your school’s financial aid office and other online databases like InternationalScholarships.com.
Happy scholarship searching!
Now that you know the main differences between scholarships and loans, what to expect from the award process, and where to find the right scholarships for you, you’re ready to begin your search. Just remember to consider other funding options alongside scholarships so you have all the funds you need to cover your tuition.
*MPOWER has referral agreements with TD Bank and may earn referral fees from this relationship.
