DeGroote School of Business
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Finances

Explore the costs and forms of financial support for your MBA

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Tuition

We understand that the cost of earning an MBA is a major factor in your decision. This degree is an investment in yourself and your future career trajectory.

Your MBA can unlock doors to new roles and industries and have a positive impact on your earning potential. Scholarships, bursaries, admissions awards and financing options are available to support the expense of your investment.

* All fees are approximate and listed in Canadian dollars (CAD). Fees are subject to change at any time.

Domestic tuition 2025/2026*
Full-Time MBA with Co-op Program $59,200
Full-Time MBA Program $53,000
Full-Time Accelerated MBA Program $26,000
Part-Time Accelerated Program $33,000
Blended Learning Part-Time MBA Program $60,800
Executive MBA $95,300
International tuition 2025/2026*
Full-Time MBA with Co-op Program $114,200
Full-Time MBA Program $107,300

Scholarships and bursaries

Students can apply for non-repayable scholarships (also known as awards) and bursaries based on academic and extracurricular achievements.

All students in the Full-Time MBA and MBA with Co-op programs are eligible for entrance scholarships at the time of admission. MBA admissions awards, ranging from $2,000 to $30,000, are automatically granted to eligible domestic and international full-time MBA students at the time of application.

In 2024, the average award value was $13,000 with $1.5 Million in entrance scholarship funding available in total.

About

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 Full-Time MBA or Full-Time MBA with Co-op Program. Top admitted students from Round 1 and 2 of the admission cycle are invited to apply for this prestigious competition (Deadline to apply November 26, 2025). Selected candidates will be asked to submit a video application in response to the question provided. Finalists will move forward to the virtual interview where a small panel of DeGroote MBA Alumni will interview and rank all finalists. If any student receiving an admission scholarship declines their offer, the award will be reallocated based on the final round rankings.

Learn more

Max. $30K

About

Range from $2,000- $30,000. Applicable only to Full-Time MBA and Full- Time MBA with Co-op applicants and are assessed at the point of admission.

About

Established in 2020, the DeGroote School of Business Graduate Award for Indigenous Learners is supported by the Faculty of Business to address inequalities in access for Indigenous learners and to assist in removing barriers. The award is tenable throughout 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.

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Max. $10K

About

MBA candidates who are enrolled in DeGroote’s Full-Time MBA programs have the opportunity to apply for additional scholarships. These scholarships range from $500 to $10,000. A full list of opportunities will be made available to MBA candidates in September via McMaster University’s internal AwardSpring scholarship system.

Learn more

About

Visit the McMaster's Office of the Registrar to see the funding that might be applicable to you. Applications open mid-August and close in mid-January for admitted students beginning the program in September 2026.

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Funding opportunities

TA positions

Full-time students can apply for Teaching Assistant positions. Opportunities are posted throughout the year.

Paid work opportunities

Students in the Full-Time MBA and Full-Time 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 for Blended Learning Part-Time MBA.

Financial aid

We have compiled a list of financial aid resources that support both domestic and international students to ensure that no exceptional candidate is prevented from enrolling due to financial constraints.

 

Banking with RBC

  • Limits range between $5,000 – $90,00 (projected income of $80,000)
  • Interest: RBC’s Prime Rate + 0%
  • Payments: Monthly interest-only while studying. Up to two years before you need to begin repaying the principal amount.
  • RBC on Campus McMaster Advisor Contacts:

 

Banking with BMO

A student line of credit* is a flexible, affordable way to pay for school. Here’s how:

  • Easy access cash to help cover tuition, rent, books, etc.
  • Get a competitive interest rate with no annual or monthly fees.
  • Make interest-only payments while you’re in school, plus two years after graduation.
  • You have access to funds whenever you need them, and only pay interest on what you borrow.
  • There are no annual or monthly fees.
  • You can pay the entire outstanding balance whenever you want, without a penalty.

 

DeGroote Student Rate

BMO is here to help you focus on what’s important – your studies. BMO is offering DeGroote students’ a low-interest rate of BMO’s Prime Rate + 0.5% while you’re in school; up to a limit of $90,000 depending on your program or borrowing needs*.

*Terms and conditions apply

 

Do Full-time and Part-time students qualify for the same amount?

Part-time students may not qualify for the full maximum academic year credit limit. Annual education expenses will determine the credit limits for these students. Expenses may include the cost of all courses for the year, such as tuition and books, etc. For correspondence courses, the credit limit cannot exceed the total costs for the course. Carry-over may be allowed, however discretion should be exercised and assessed based on the budget the student provides.

 

Your DeGroote designated BMO branches:

Branch staff at these locations will be available to answer any questions you have related to your graduate studies. To access the DeGroote specific PSLOC rate you’ll need to visit one of the branches listed below.

 

BMO Branch – Burlington Location

1841 Walkers Line

Burlington, ON

L7M0 H6

Branch Manager – Shawn Hokansson

E-mail: Shawn.Hokansson@bmo.com

Phone : 905-336-3726

 

BMO Branch – Dundas Location

81 King Street West

Hamilton, ON

L9H 1T5

Branch Manager – Jaclyn Del Rosso

E-mail: Jacylyn.derosso@bmo.com

Phone : 905-628-2284

 

BMO Branch – Hamilton Main

50 Bay Street South

Hamilton, ON

L8P 4V9

Branch Manager: Rita Vetresnco

E-mail: rita.ventrescasantini@bmo.com

Phone: 905-526-7463

 

 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.

* Note: DeGroote does not play any role in determining loan eligibility with OSAP or out-of-province programs.

 

External scholarships

Residents of Ontario

  • Ontario Graduate Scholarship Program: For domestic students applying to any Full-Time MBA program, those with an A- equivalent GPA or higher who apply by Round 3 (February 26, 2025) may also be considered for the Ontario Graduate Scholarship (OGS). Click here for more information

Out-of-province residents

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

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 themhere.

Note: DeGroote MBA students pursuing the 28-month Co-op program are now eligible for funding through MPOWER Financing! Approved students will be responsible for making in-school payments for up to 30 months. For students in the MBA co-op stream, full repayment may start as early as 2 months after completion of the 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-signer. Both Full-Time MBA and Full-Time MBA with Co-op are supported.

Key features:

  • No co-signers 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 tenure [1]
  • Competitive interest rates—starting from 10.75% p.a. [2]
  • Attractive tax benefits
  • Dedicated relationship managers with door-step service

Apply online

For more information, please contact Mr. Tushar Adole

[1] Terms and conditions apply.

[2] The interest rate offered will vary on a case-by-case basis and on individual merits.

 

Note: DeGroote does not play any role in determining loan eligibility with MPOWER Financing, Prodigy or HDFC Credilia.

 

*Payments to your student account are intended specifically to cover all outstanding charges directly associated with your education at McMaster University. Your student account should not be utilized as an intermediary for transferring funds. By adhering to this policy, we ensure the proper allocation of funds and maintain transparency in financial transactions. Refunds related to payments originally received through private lender must be returned to the lender by the student. The student is responsible for any foreign exchange transaction costs related to the borrowed amount. Learn more.

DeGroote does not guarantee, co-sign, or endorse any of these specific programs of funding. Any students engaging with third-party lenders must follow McMaster University’s Third-Party Sponsorships policy.