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 2021/2022
MBA (with Co-op) Program $44,000
MBA Program $38,500
Accelerated Program (Full-time) $20,000
Accelerated Program (Part-time) $25,000
Blended Learning Part-time Program $57,500
EMBA $89,000

The fees above are estimated and are subject to change. Tuition fees for the 2021/2022 academic year will be posted online mid to late June (upon university approval).

Approximate INTERNATIONAL TUITION for the whole program:

TUITION 2021/2022
MBA (with Co-op) Program $91,500
MBA Program $86,000
Scholarships and Awards

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 $1,000 – $10,000.
  • 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.

Highlight - TA Positions

TA Positions

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

Highlight - Coop Work Term

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.

Highlight - OSAP

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 or Part-time Accelerated MBA students.

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.


Bank Loans / Lines of Credit

TD Canada Trust has partnered with McMaster University to provide selected students with the opportunity to apply for lines of credit through their regular business processes.

Students who have OSAP tuition/book shortfalls are encouraged to reach out to the Student Services team within the Office of the Registrar. Following a consultation, McMaster’s Student Services Professionals will fill out a referral form and direct students to a recommended contact.

Students who are enrolled in a non-OSAP eligible program, such as DeGroote’s part-time Accelerated MBA program, are encouraged to reach out to the local branch of their bank directly to inquire into loans or lines of credit.

In special circumstances, students in non-OSAP eligible programs may also apply for emergency supports through Student Services.


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

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 $50,000 USD (about CAD $63,000)
  • 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.

 

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

Apply online

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 or HDFC Credilia.