Plan your finances

1) Apply for financial aid

An important step in planning your finances is estimating how much money you're likely to have available to you for your universities studies.  This is why we encourage you to apply for Financial Aid early - so that you will have the information you need to properly estimate your resources before the deadline to accept your offer arrives (consult your letter of acceptance on Minerva to view your confirmation deadline). 

The application deadline for our Entrance Bursary Program is 30 days from the date of formal acceptance to the University or June 30th (whichever comes first). For instructions and program details, consult Financial Aid.


2) Calculate your costs

Once you've estimated your resources, it's time to calculate your basic costs.  Start by asking yourself these questions:

What are my educational costs?

At McGill, the cost of tuition and fees varies by program. To obtain a comprehensive estimate of what you can expect to pay, use the Fee Calculator

Will I be staying in Residence?

If you plan to live in one of the McGill Residences, be advised that fees can vary from one residence to the other.  Consult Downtown campus fees or Macdonald campus fees for detailed cost information for each residence.

RENTING AN APARTMENT? Check out our Rough Guide for estimates on the cost of renting in Montreal.

Will I be on a Meal Plan?

Most students living in McGill residences, with some exceptions, are automatically enrolled in the Mandatory Residential Plan. Students assigned to Solin Hall or MORE Houses will automatically have an active OneCard account with a base amount of $300.

LIVING OFF-CAMPUS? If you still want to take advantage of the convenience offered by a Meal Plan, take a look at our Voluntary Meal Plan options.

What additional living costs should I take into account?

What should you budget for books, a cell phone and entertainment?  Consult Calculate your Costs for a helpful guideline.


3) Build your budget

Plan your budget and stay on track by consulting Scholarships and Student Aid.  Here you will find:

  • Our Frugal Scholar Toolkit and Workshops
  • Tips and trick on how to cut your costs
  • How to make an appointment with one of our Financial Aid Counselors

Other Money Matters

Billing

You will find information on e-billing and e-payment as well as payment deadlines at Student Accounts. You will receive an email notification at your McGill email address when the monthly e-bill is ready to view in Minerva.

The Student Accounts office holds information sessions for new students and their parents, providing answers to your questions about e-billing and payment of fees. Check back in early August to register online on the Parents section of the Campus Life & Engagement's (CL&E) website.

  • Fall term tuition is billed in early August and is due by the end of August (note that students registered up to August 14th at midnight will be billed and must pay their fees by the end of August).
  • Winter term tuition is billed in early December and is due in early January.
  • If applicable, Residence fees are payable monthly and will appear on your monthly e-bill.
  • Meal plan fee payments vary depending on your plan.  If applicable, consult Food and Dining Services and select the appropriate plan.

Scholarships

If you have been awarded an entrance scholarship, you will receive a letter from the Scholarships and Student Aid Office. Once you have accepted admission to McGill, the offer of entrance scholarship must be accepted by logging into Minerva and selecting the Financial Aid/Awards menu. The deadline for accepting admission to McGill is also the deadline for accepting scholarships.

Scholarships are credited directly to your fee account – one half on September 1 and the other half on January 1. You can keep track of your account on Minerva.

For complete information on scholarships visit the Scholarships website.

  • The Scholarships and Student Aid Office also administers all government student aid programs for Canadians, Permanent Residents and U.S. citizens.
  • Canadians and Permanent Residents apply directly to the province or territory in which they are considered a resident. Make sure you apply before June 30 to ensure your government funding arrives by September.
  • US citizens and permanent residents apply for the Direct Loan Program. Make sure you apply before June 1 to ensure your US government funding arrives in the fall. Consult the Student Aid page for information on how to apply for US Direct Loans when attending a foreign school.