Financing your MBA
The program strives to recruit the best candidates, and is committed to helping you afford your education by providing you with a broad range of financial options.
Here for you
We’re committed to helping to remove the financial barriers that qualified applicants may face. Early application incentives, awards for exceptional applicants, and special arrangements for loans or lines of credit at two major Canadian banks are three of the possibilities.
Entrance awards and fellowships
We assess all of our candidates for exceptional merit above the minimum admission criteria. Some of the things we look for during this assessment are leadership qualities demonstrated through professional and academic experiences and the overall strength of the application. Candidates who are selected to receive an entrance award will be notified when they receive an offer of admission.
Professional student loan plan with BMO and RBC
All Canadian domestic students (Canadian citizens, permanent residents) can access a loan with competitive interest rates and loan limits to cover the full cost of their tuition, from the Bank of Montreal (BMO) or the Royal Bank of Canada (RBC).
Lifelong Learning Plan (LLP)
The LLP allows individuals to withdraw amounts from their registered retirement savings plans (SPs) to finance their own education or that of their spouse/partner. Amounts withdrawn under the LLP do not count towards income and the SP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years.
For more information, consult the Canada Revenue Agency.
Employer fee subsidy
Several Toronto-area financial institutions and employers have indicated a willingness to sponsor a number of their employees for all or part of the MBA program fees. Applicants are strongly encouraged to approach their employers for financial support. The Rotman EMBA program staff or faculty will provide any information or assistance an applicant might deem helpful in this regard.
Registered Education Savings Plan (RESP)
An RESP is an education savings account that is registered with the Government of Canada for parents who want to save for their child's post-secondary education. Once the child (the RESP beneficiary) has graduated from high school and enrolled full-time or part-time in a qualifying post-secondary educational program, the Plan holder can request, on his or her behalf, to withdraw money from the RESP to help pay for their studies.
Educational Assistance Payments include the interest earned in the RESP as well as any Canada Education Savings Grants, provincial grants and Canada Learning Bonds received. The money can be used to pay for post-secondary school expenses like tuition, books and transportation. For more information, consult the Canada Revenue Agency website.