Graduate School Financial Guide Canada 2025

Updated March 2025 · 12 min read

Funding graduate school in Canada is fundamentally different from undergraduate financing. While undergrad students rely primarily on OSAP and part-time work, graduate students have access to research funding, teaching assistantships, federal tri-council scholarships, and institutional fellowships — often making graduate education more financially manageable than it first appears.

Funding Packages at Canadian Universities

Most Canadian universities guarantee a minimum funding package for research-based master's and doctoral students. These packages typically include:

• A tuition waiver (your tuition is covered by the program)
• A stipend of $18,000–$30,000/year depending on the field and institution
• The stipend comes from a combination of sources: your supervisor's research grants, teaching assistantships, and institutional fellowships

Funding packages are most common and most generous in STEM fields. Humanities and social sciences students sometimes have smaller or no guaranteed packages, which is an important factor in grad school decision-making.

Federal Tri-Council Scholarships

Canada's three federal research councils fund graduate scholarships through the Canada Graduate Scholarships program:

NSERC (Natural Sciences and Engineering Research Council)

• CGS-M (Master's): $17,500 for 1 year
• PGS D / CGS D (Doctoral): $21,000–$35,000/year for up to 3 years
• Postgraduate Scholarships (PGS): for natural sciences and engineering research

SSHRC (Social Sciences and Humanities Research Council)

• CGS-M: $17,500 for 1 year
• Doctoral Fellowship: $20,000/year for up to 4 years
• For research in social sciences, humanities, and related fields

CIHR (Canadian Institutes of Health Research)

• CGS-M: $17,500 for 1 year
• Doctoral Research Award: $35,000/year for up to 4 years
• For health research, medical sciences, and related fields

Vanier Canada Graduate Scholarships

The Vanier CGS is Canada's most prestigious graduate scholarship, awarded to doctoral students demonstrating leadership, research potential, and academic excellence across all three councils (NSERC, SSHRC, CIHR). Value: $50,000/year for 3 years. Highly competitive — approximately 167 are awarded annually across Canada.

Provincial Graduate Scholarships

• Ontario Graduate Scholarship (OGS): $15,000/year, administered by Ontario universities, available to master's and doctoral students
• BC Graduate Scholarship: Various amounts through UBC and SFU institutional programs
• Alberta Graduate Excellence Scholarship (AGES): Up to $11,000/year for doctoral students in Alberta
• FQRSC/FQRNT/FRSQ (Quebec): Quebec's provincial research councils offer scholarships for Quebec-based graduate students

Teaching Assistantships (TAs)

Teaching assistantships provide income in exchange for assisting with undergraduate courses (running tutorials, grading, office hours). TA pay varies by institution but typically ranges from $3,000–$8,000 per term. Most research-based graduate programs include TA work as part of the funding package. TA income is taxable employment income, with deductions for CPP and income tax.

Research Assistantships (RAs)

Research assistantships provide stipend income in exchange for working on a supervisor's funded research project. RA income can be structured as a scholarship (not taxable) or as employment income (taxable), depending on how your supervisor pays you. Clarify the structure with your supervisor — it affects your taxes significantly.

OSAP for Graduate Students

Graduate students in Ontario can still apply for OSAP. However, OSAP assesses all funding sources (scholarships, TA pay, funding packages) as income when calculating need. Many funded graduate students find their OSAP entitlement is reduced or eliminated because their funding package is treated as income. Nevertheless, it's worth applying — particularly for students in underfunded programs or humanities fields with minimal institutional support.

Tax Treatment of Graduate Funding

Graduate funding has complex tax treatment:

• Scholarships and fellowships: If you're a full-time student in a qualifying program, scholarship and bursary income is generally tax-exempt (enter it on your return but it's usually non-taxable)
• TA and RA employment income: Fully taxable employment income reported on a T4
• Research grants used for expenses: Grant amounts used for legitimate research expenses are not personal income

The distinction between scholarship income and employment income can save thousands in taxes annually. Work with your department or a tax professional to ensure your funding is classified correctly.

Budgeting as a Graduate Student

Graduate stipends in Canada — typically $18,000–$25,000/year — are below the poverty line in expensive cities like Toronto and Vancouver. Strategies to make it work:

• Seek out programs at universities in lower-cost cities if your field allows flexibility
• Apply for every scholarship available — even $5,000 makes a significant difference on a $22,000/year income
• Take on TA positions beyond your required hours if permitted and paid
• Use campus resources: subsidized gym, library access, campus food banks (some universities have them), student dental plans
• File taxes diligently to capture all eligible credits and exemptions