Finance Your Participation
There are four main aspects to financial planning for global learning programs:
The earlier you start planning, the better prepared you will be for financing your participation.
Funding Opportunities
Be sure to check out TMU's new central award management system, AwardSpring (opens in new window) ! All funding at Toronto Metropolitan University is transitioning to a central repository where students will be able to identify the funding opportunities they are eligible for.
For application questions about the following list of funding opportunities administered by TMU Global, please email global.learning@torontomu.ca.
Program |
Application Date |
Amount |
|---|---|---|
(PDF file) Global Learning Award: Virtual Edition (opens in new window) supports students participating in virtual international activities, including, work, research, conferences, global learning programs amongst others that are hosted by international universities or organizations. |
Rolling basis Due Date: July 31, 2024 |
$200 |
| (PDF file) Global Learning Award: In-Person Edition (opens in new window) supports students participating in in-person international activities, including, work, research, conferences, and global learning programs taking place abroad. | Rolling basis Due Date: July 31, 2024 |
Up to $1000 |
(PDF file) Toronto Met International Exchange Opportunity Scholarships (opens in new window) supports student participation in an academic exchange with one of TMU's 75+ partners during a semester or academic year program. |
Application Closed |
$2000 |
(PDF file) Scotiabank Mobility Scholarship (SMS) (opens in new window) has been generously provided by Scotiabank to encourage the participation of students in undergraduate business and economics programs in TMU's Exchange Program. |
Application Closed |
While the funding listed below are some of the major programs available there are a lot of other types of grants and awards that are available to students within particular academic programs and schools.
Program |
Faculty |
Due Date |
Amount |
|---|---|---|---|
Global Exchange Award (opens in new window) : supports students participating in a learning exchange opportunity. |
Faculty of Arts |
TBD |
$2,000 |
The Creative School Passport Fund (opens in new window) : aims to help students interested in experiential learning opportunities with financial support |
The Creative School |
TBD |
Up to $2,000 |
Student Researchers Support (opens in new window) : Check out OVPRI’s list of funding opportunities for students participating in research opportunities locally and abroad. |
University Wide |
Varies by fund |
Varies by fund |
Toronto Metropolitan University Graduate Student Travel Funding (opens in new window) : is intended to encourage graduate students to present their research at a local or international conference or equivalent academic event. |
University Wide |
No deadline (first come, first serve basis) |
Up to $500 |
Program |
Destination |
Due Date |
Amount |
|---|---|---|---|
SWEA International Toronto Scholarship offer students pursuing an exchange program with a Swedish University. For application details, please email: global.learning@torontomu.ca |
Sweden |
TBD |
$2,000 CAD |
EduCanada (external link, opens in new window) : offers a wide range of funding opportunities for Canadian undergraduates, graduate students, PHD candidates and professionals |
China, India, New Zealand, Korea, etc. |
Varies |
Varies |
DAAD (external link, opens in new window) : offers funding opportunities for undergraduates, graduate students, PhD candidates, Post Docs, and faculty to help make your plans in Germany a reality. |
Germany |
Varies |
Varies |
BUTEX Scholarship (external link, opens in new window) : Each year BUTEX awards a number of scholarships to students studying abroad for either a semester or for a whole academic year to promote learning abroad in the UK. |
United Kingdom |
TBD |
£500 |
Ontario Universities International (OUI) (external link) offers scholarships for successful applicants to its programs in France and Germany (programs in India and China are currently on hold).
Note that all applications and supporting documents are submitted to the TMU Global office. Email global.learning@torontomu.ca for more details. |
Germany and France | Application closed for the 2024-2025 academic year
|
Semester Exchange: $2,500 to $3,500 Summer Research Programs (upper year undergraduate and graduate students): $1,500 to $3,500 Summer Language Programs (undergraduate students): $1,200
|
A good first step in evaluating program costs is determining your total costs here at Toronto Metropolitan University, in Toronto. This is particularly important if you’re going on exchange. Knowing how much you spend during a semester here should give you a good base-line for what your spending and living habits are like. You can then make an informed decision about how much you’re willing to spend on going abroad.
Depending on where you’re going, longer programs can be comparable in cost to shorter programs. Lots of one-time expenses, such as airfare, mean that you can get more value for your money the longer you stay in one location. However, short-term programs may give you more flexibility in returning to work in Toronto and saving up money. Programs in summer may also be more expensive than those in the fall or winter, depending on the location.
Certain destinations can be more expensive relative to other destinations. This is especially true if you’re living there for a while. Making sure you understand the cost of living at a destination is key to successful financial planning. Numbeo (external link, opens in new window) is a great resource to help you determine the cost of living in different cities around the world.
If you’re participating in a program that charges a program fee, it’s important to understand what is and isn’t included. Housing and meals may be included, and may be cheaper than if you had to pay for this on your own. Remember to include all of this when comparing program costs.
It is important to note that going on exchange doesn’t limit your ability to apply for student loans. Check with Student Financial Assistance (opens in new window) before applying for more details. Note that the difference in start and end dates can sometimes result in a change in student loans (either reduction or increase).
One of the biggest considerations for going abroad is income - before you leave, during your program, and after you return. Check out the section below for some scholarship and funding opportunities offered by TMU Global.
Some things to consider:
- How will your participation affect your job? Will you be able to work at the same place when you return?
- What are the rules around working as a student or visitor in your destination?
- Does your program come with funding attached?
- Are there discounts on tuition or fees because of partnerships agreements.
- What scholarships can you apply for?
- Do you have savings you can tap into while you’re abroad? Are you able to get funding from family while you’re abroad?
Create a Budget
Once you’ve selected a program that’s a good fit for you financially, the next step is to create a budget. Check out this comprehensive article on Budgeting for Exchange (opens in new window) written by a past Toronto Metropolitan University exchange student to get you started. Not going on exchange? The principles are still the same!
Start Saving
Now that have a budget, it’s time to start saving for your global learning experience. The sooner you start the better. In this blog post titled TMU Debt Free? Tips on Saving and Budgeting for Exchange (opens in new window) , the TMU Debt Free program coordinator gives some great advice for financial planning for exchange.
One last tip: If you will be gone for an extended period of time, try to save enough money to cover your costs while you’re away and the living costs for a month or two when you return. You don’t want to get back to Toronto without a way to pay your rent.