Finances
We understand that one of your major concerns is likely the cost of doing an MBA. By investing in an MBA today, when you graduate, you will unlock doors not only to better career options, but to a higher salary. From scholarships, bursaries, and admissions awards to paid work opportunities, there are a number of ways to cover the costs of your MBA.
Approximate DOMESTIC TUITION for the whole program:
| TUITION | 2024/2025* |
|---|---|
| Full-Time MBA with Co-op Program | $55500 |
| Full-Time MBA Program | $49300 |
| Full-Time Accelerated MBA Program | $22600 |
| Part-Time Accelerated Program | $26300 |
| Blended Learning Part-Time MBA Program | $60800 |
| Executive MBA | $95300 |
*The fees above are estimated and are subject to yearly changes.
Approximate INTERNATIONAL TUITION for the whole program:
| TUITION | 2024/2025* |
|---|---|
| Full-Time MBA with Co-op Program | $118300 |
| Full-Time MBA Program | $111300 |
Scholarships and Awards*
- MBA Admission Awards: People who have applied to DeGroote’s full-time MBA programs are automatically considered for scholarships at the time of application. Scholarships are awarded based on a holistic assessment of the applicant’s profile and range from $2,500 – $30,000 for both international and domestic candidates.
- DeGroote MBA Admission Scholarship Competition: The DeGroote MBA Admission Scholarship Competition encourages excellence in the DeGroote School of Business MBA program. It is designed to recognize and assist outstanding prospective and incoming students who have received an offer to the MBA or MBA with Co-op Program in the first or second round of admission. Top students, selected by the MBA Recruitment and Admissions Team, are invited to apply for this prestigious competition. Additional information is available to those interested.
- MBA In-course and Entrance Scholarships: MBA candidates who are enrolled in DeGroote’s full-time MBA programs have the opportunity apply for additional scholarships. These scholarships range from $500 – $10,000. A full list of opportunities will be made available to MBA candidates in September via McMaster University’s internal AwardSpring scholarship system.
- University-wide Scholarships and Bursaries: Visit McMaster’s Office of the Registrar to see the funding that might be applicable to you.
*Only available to full-time students in the MBA, MBA with Co-op, and Accelerated programs.
TA Positions
Full-time students can apply for Teaching Assistant positions. Opportunities are posted throughout the year.
Paid Work Opportunities
Students in the MBA and MBA (with Co-op) have the opportunity to pursue paid work opportunities. Salaries vary depending on the type of position, market competition, student qualifications, and the company.
OSAP
The Ontario Student Assistance Program (OSAP) is available to Canadian citizens or landed immigrants who are residents of Ontario. You should apply as soon as the application forms are made available in late May. This option is not available to Blended Learning Part-time MBA.
Financial Aid
For Domestic Students | For International Students
For Domestic Students
Government Loans*
Residents of Ontario: DeGroote’s full-time MBA programs are eligible for financial aid through OSAP. McMaster University’s Student Services team within the Office of the Registrar manages all inquiries related to government loan applications.
Out-of-Province Residents: For guidance on potential provincial loan opportunities, please visit McMaster’s Registrar page.
* Please note that DeGroote does not play any role in determining loan eligibility with OSAP or out-of-province programs.
DeGroote School of Business Graduate Award for Indigenous Learners
Established in 2020, the DeGroote School of Business Graduate Awards for Indigenous Learners are supported by the faculty of business to address inequalities in access for indigenous learners and to assist in removing barriers. The award is tenable through the length of the program. Up to five (5) awards will be offered each year (for entrance in the Fall term) to include tuition as well as additional related expenses to a maximum of $15,000 per academic year, tenable throughout the normal length of the degree, to enable engagement and success in the program. Additional information is available to those interested.
External Scholarships
Residents of Ontario
Out-of-Province Residents
For International Students
Canadian financial institutions currently only offer loans or lines of credit to students who hold permanent residency status or have a Canadian co-signer. As such, we recommend international students consider securing a bank loan from their home countries to finance their studies. Students may also explore the following options below:
External Scholarships
Global
- Student Awards
- Scholarships Canada
- International Education Financial Aid
- Government of Canada – International Student Scholarships
Country-specific
Loan Companies*
MPOWER Financing
MPOWER Financing is the leading provider of no-cosigner loans to students from around the world. MPOWER loans are based on a student’s career potential and can cover tuition and other education-related expenses.
Key features:
- No cosigner or collateral needed
- Fixed-rate loans of up to $100,000 USD (about CAD $135,000)
- Interest rates from 6.49% with no prepayment penalty
- Career support through MPOWER’s Path2Success program
- Applying is fast, free, and has no commitment. Apply here!
- Also check out their Scholarships!
Visit their website, call them at +1-647-503-4607, or email them here.
Please note that unfortunately at this time, MPower does not support our Co-op program.
Prodigy Finance
Prodigy lends internationally based on your future potential. You can travel across the world to get a top-tier master’s degree – without worrying about collateral or a co-signor. Both FT MBA and MBA with Co-op are supported!
Key features:
- No Co-signors and no collateral
- No hidden fees/charges
- 100% online process
- Offer within 1-5 days
- Customized offer with competitive interest rates
For more information, visit their website, or email them at info@prodigyfinance.com
HDFC Credilia
HDFC Credila offers a completely customized product for Indian nationals who opt to pursue their university/college education in Canada.
- Funding for: Tuition Fee + cost of living + any other education related expenses
- Flexible repayment options with up to 180 months (15 years) loan tenure1
- Competitive interest rates – starting from 10.75% p.a.2
- Attractive Tax benefits
- Dedicated Relationship Managers with door-step service
For more information, please contact Mr. Tushar Adole
1 Terms and conditions apply.
2 Interest rate offered will vary a on case to case basis and on individual merits.
* Please note that DeGroote does not play any role in determining loan eligibility with MPOWER Financing, Prodigy or HDFC Credilia.
DeGroote does not guarantee, co-sign, or endorse any of these specific programs of funding. Any students that will be engaging with third party lenders must follow McMaster University’s Third-Party Sponsorships policy.