Estimate of living expenses
Based on living expenses for a single person.
|Tuition||Tuition is paid each term. Use the MBA Tuition & Supplemental Fee Schedule to determine how much your tuition will be.||Varies|
|Rent||Expect to spend around $600 to $1,000 each month on rent. Visit McMaster’s Off Campus Housing site to view rentals for graduate students, faculty and staff to get an idea of the current rates in the Burlington and Hamilton areas.||Varies|
|Utilities||Costs for utilities such as heat, electricity and water are often included (or partially included) in rental agreements. However, if utilities are not included with your rent you should set aside $300 – $400 per month.||$300 to $400 per month|
|Cable/TV||Basic cable||$30 to $50 per month|
|Cell phone||Depending on your plan||$30 to $100 per month|
|Internet||Depending on your plan||$40 to $100 per month|
|Food||Around $400 per month|
|Books||This will vary by term depending on the courses you take and whether you purchase new or used books.||Plan on spending $500 to $800 per term|
|Transportation||Shuttle service from Hamilton’s main campus to the Ron Joyce Centre is free. There is also free shuttle service between the Ron Joyce Centre and the Appleby GO station. If you plan to live in Hamilton, a public transit pass for Hamilton’s HSR bus service is around $95 per month.* If you own a car, be sure to budget money for gas and maintenance.|
*Please note that the HSR (Hamilton) bus pass is not included in your fees as an MBA student.
|Parking||A parking pass for the Ron Joyce Centre is $35 per month||$35 per month|
|Extended health & dental coverage||Full-time and co-op MBA students are required to enroll in the McMaster Students Union (MSU) health plan. The cost of the plan is approximately $196 per academic year. However, if you are already covered under another health plan you can opt-out of this program. Opt-out forms are available from the MSU. All visa students must also enroll in the University Health Insurance Plan (UHIP).||about $16 per month|
|Everything else||Might include entertainment, eating out, clothing, personal care items, etc.||$250 to $400 per month|
|Unexpected Expenses||Put aside anywhere from 3-10% of your overall costs to use for unexpected expenses. Things like fixing your computer, upgrading a suit or car repairs.||about 3-10% of your overall costs|