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Welcome to the University of Victoria. As your excitement about attending university starts to build, some serious questions need to be answered about how you’re going to pay for this adventure. Student Awards & Financial Aid can help you with that. In addition to offering scholarship, bursary and work study programs, we provide information about other funding sources, expected costs, and strategies for balancing your budget.
How much is it going to cost?
The answer depends on you: how many classes you take, if you drive a car or take the bus, if you share accommodation or rent your own place. To answer the question, consider your particular circumstances, and these average single student costs for 8 months of study:
Domestic Tuition |
5,058 |
International Tuition |
16,366 |
Student Society Fees |
149 |
Athletic & Recreation Fees |
158 |
UVSS Health Plan |
144 |
UVSS Dental Plan |
144 |
UPass Bus Pass |
162 |
Books & Supplies, up to |
1,700 |
Room and Board for 8 months
on-campus, single (average) |
8,123 |
on-campus, double (average) |
7,164 |
off-campus (moderate standard of living according to Student Aid BC) |
9,240 |
(Please note: These average costs are for a Canadian student living away from home pursuing a Bachelor of Arts program based on the Moderate Standard of Living Guidelines set by the Ministry of Advanced Education. Tuition costs will vary from program to program. International and Graduate students will also have different tuition costs. Please refer to Accounting Services for exact tuition costs and Residence Services for residence costs.
How am I going to pay for this year?
You
Your savings, your part-time earnings, your summer job.
Your Family
Talk to anyone who may be helping finance your education: parents, other relatives, and significant others.
Student Loans
a) Government. The federal government’s Canada Student Loan program is administered by and in conjunction with provincial governments. Students complete only one application to be considered for both federal and provincial loans and grants for full time study. BC residents will apply to Student Aid BC (SABC), administered by the Ministry of Advanced Education.
- BC students can apply on-line for SABC: click here
b) Banks. Many chartered banks now offer students loans or lines of credit. Unlike the government loans, which are interest-free while you are a full-time student, the banks do charge interest while the student is in school.
Scholarships and Bursaries
UVic offers a generous scholarship and bursary program. UVic has recognized excellence by awarding undergraduate scholarships totaling more than $5 million. Graduate and undergraduate students in financial need were eligible to apply for bursaries with a total value of more than $4 million. Bursary, scholarship and fellowship information can be found on the following UVic web sites:
Work Study
The UVic Work Study program exists to help students make up the difference between their expenses and resources. It also provides valuable career experience. Last year, 533 students earning $10.00 an hour filled over 396 part-time campus jobs. To be eligible, students must submit a Work Study application to our office for assessment of financial need. Applications are available in the Work Study section of this web site. The Work Study Program runs from September until April.
Budgeting
Budgeting doesn't have to be an arduous task and can certainly prevent financial anxiety as the term progresses. Remember, make sure your budget is flexible because your financial situation will constantly change. Emergencies happen and it's always important to save some money for a rainy day! Try this sample budgeting form as a simple way for you to organize and manage your finances
to ensure that your money lasts for your entire academic year.
| Budget Pick an 8 or 4 month study period: September -April/May-August/September-December/January-April |
One Time Only Education Expenses |
One Time Only Education Resources |
| Tuition |
|
Savings |
|
| Books and Supplies |
|
Awards (Scholarships&Bursaries) |
|
| Other |
|
Student Loan |
|
| Total One Time Expenses (A) |
$ |
Total One Time Resources (C) |
$ |
Monthly Expenses |
Monthly Income |
| Housing (Rent or Mortgage) |
|
Net Part-time Earnings |
|
| Food |
|
Contribution from Parents |
|
| Utilities (Phone, Hydro, Cable) |
|
Employment Insurance/CPP |
|
| Household (Laundry, Cleaning) |
|
Social Assistance |
|
| Transportation |
|
Workers' Compensation |
|
| Entertainment |
|
Sponsorship |
|
| Medical/Dental/Optical |
|
Orphan's Benefits |
|
| Child Care Costs |
|
Child Care Subsidy |
|
| Miscellaneous |
|
Net Spouse's Income |
|
| Other |
|
Other |
|
| =Total Monthly Expenses |
|
=Total Monthly Income |
|
| x Number of months (4 or 8) |
|
x Number of months (4 or 8) |
|
| Equals total living expenses (B) |
|
Equals total living expenses (D) |
|
| Total Education Expenses (A+B) |
|
Total Education Resources (C+D) |
|
Total Education Expenses minus Total Education Resources = Financial Need |
| |
- |
|
= |
$ |
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Here are some other financial tools to try out:
- Get Smarter About Money and blog: http://blog.getsmarteraboutmoney.ca/
- The Debt Free Graduate - The Student's On-Line Source for Financial Advice - Tools, resources, on-line budget calculators and even campus kitchen recipes.
- CanLearn - Canada's one-stop resource for the information and interactive planning tools you need to explore learning and education opportunities, research occupations, develop learning strategies and create the financial plans to achieve your goals.
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