Rotman School of Management

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Scholarships and Financing Options

We offer over $4 million in financial aid available through a broad range of awards and programs, as well as the opportunity for a paid work placement while you study.

Financial Options

Scholarships and Awards

Entrance Awards
Awards for In-Program Students
Rotman Scholar Awards
Ontario Graduate Scholarships
CIBC BASc / MBA Scholarships
Professional Student Loan Plans with BMO & RBC

View a list of Rotman students who won scholarships in 2015

Download a PDF list of all Rotman awards and scholarships

Entrance Awards

Each year, the Rotman School grants entrance scholarships, fellowships and awards to approximately one third of our students. These are offered on the basis of exceptional merit and typically range from $10,000 to full tuition. No separate award application is required and you will be automatically considered for these awards when your application is reviewed for admission.

JD/MBA Awards

Up to $600,000 is reserved exclusively for the JD/MBA program.

New: Rotman Problem Solving Challenge

The top participants in the Rotman Problem Solving Challenge receive the following scholarship awards: 

Individual Prizes
First place overall (1 winner) $100,000
Highest scored written submission (1 winner) $10,000
Top six individual presenters (6 winners) $10,000
Group Prizes
First place team $15,000 per person
Second place team $10,000/person
Third place team $5,000/person

New: Regional Awards

One exceptional candidate from each of the following regions receives a $40,000 Entrance Award: 

  • Canada
  • USA
  • Latin America/Mexico
  • Europe
  • Middle East/Africa
  • India
  • China/Asia 

New: MGA/MBA Awards

The top student in the MGA/MBA Program receives a $30,000 Entrance Award. 

New: Forté Foundation Scholarships

Twelve $40,000 scholarships were awarded in 2014. 

New: Skoll/MBA Awards

Successful Skoll/MBA candidates will be considered for Entrance Awards ranging from $10,000 to $30,000. 

Awards for In-Program Students

The Rotman School offers a number of scholarships, fellowships and awards to students who have completed the first year of their MBA program. Administered through the Program Services Office, the call of applications (where required) takes place at the end of the Spring Term each year. Most are available to both domestic and international students on the basis of academic merit, while some also consider financial need

Rotman Scholar Awards

The Rotman School offers an academic mentorship program for first-year core courses. Upper-year MBA students with an excellent academic record in a particular course and demonstrated communication skills will be selected to provide academic guidance and support to first-year students. Applications for Rotman Scholar Awards are available at the end of the Spring Term each year.

Ontario Graduate Scholarships

Jointly supported by the Ontario Government, the University of Toronto and generous donors to the Rotman School these scholarships are intended to encourage and support academic excellence at the master’s and doctoral levels and are awarded to students enrolled in full-time studies who have obtained a first class standing. An Ontario Graduate Scholarship at the Rotman School of Management is held for one year and valued at $10,000 to $15,000 per year, thanks to the generous support of our donors. The Rotman School’s deadlines for 2016-17 OGS applications are:

For Canadian citizens or Permanent Residents: 1:00 pm EST on Monday, May 2, 2016 

Students interested in applying for an Ontario Graduate Scholarship should consult the School of Graduate Studies website for eligibility, conditions and application forms.

CIBC BASc / MBA Scholarships

The Skoll BASc/MBA program is supported by the generous contributions of the Jeffrey Skoll Foundation and the Canadian Imperial Bank of Commerce (CIBC). These gifts, gratefully received by the University, were matched through a Government of Ontario program called Ontario Students Opportunity Trust Fund (OSOTF).

These scholarships are awarded to students in the BASc/MBA program in the Rotman School who have displayed high academic merit in their first three years of Engineering studies and who have a high level of leadership potential. Additional preference will be given to students who demonstrate financial need.

Eligible students may receive a Skoll scholarship which helps to defray the difference between tuition fees in the Faculty of Applied Science and Engineering and those at the Rotman School of Management. A further award from the CIBC scholarship may be available to eligible students, the amount of which varies from year to year depending upon the number of recipients.

Applications are submitted to the Faculty of Applied Science and Engineering.

Professional Student Loan Plans with BMO & RBC

All 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). International students (those on study permits) can also access a BMO or RBC loan secured with a qualified Canadian resident co-signer, cash collateral, or standby letter of credit specifically with BMO.

Government Financial Assistance

Government Loans

Each provincial government in Canada administers and maintains a student financial aid program in cooperation with the federal government’s Canada Student Loan (CSL) program. The assistance is in the form of interest-free loans while a student is in school, although some provinces award grants to students or offer additional assistance to students graduating with debt over a certain amount. When you apply to your provincial government for assistance, you are also automatically considered for a loan through the CSL. Eligibility requirements, maximum borrowing amounts and loan repayment policies vary from province to province.

In Ontario, the Ontario Student Assistance Program (OSAP) is available to help supplement (not replace) the financial resources that the student is expected to contribute. Information about OSAP can be found online at

Lifelong Learning Plan (LLP)

The LLP allows individuals to withdraw amounts from their registered retirement savings plans (RRSPs) to finance their own education or that of their spouse/partner. Amounts withdrawn under the LLP do not count towards income and the RRSP 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 at

Employment Opportunities

Teaching and Research Assistantships

A variety of teaching assistant positions are available through Rotman and through the commerce and finance departments of the different campuses and colleges of the University of Toronto. Students who have completed the first year of their MBA are eligible to apply for these positions, which will be posted prior to each term and/or academic year. A limited number of research assistant positions are also available through individual faculty members and are mostly available in a student’s second year.

These positions are considered employment and not part of a financial assistance program. TA’s will receive T4 tax forms in February.

Internship & Co-Op Employment

80-90% of Full-Time Rotman students secure paid employment during one of three work terms in the Summer (April - August), Fall (September - December), or Winter/Spring (January - May) in our Flexible Internship Program. Internship and other work placement salaries vary by function, geography and industry, but the average Rotman student earns over $5,000/month. 

For more details, see our Employment & Salary Report.

Opportunities for International Students

International students are eligible for many of the School’s scholarships, fellowships, and teaching and research assistantships. A number of organizations also offer scholarships, fellowships and loans to citizens of various countries to study in Canada. These programs have not been screened by the Rotman School, and students are individually responsible for applying. International students are competitive candidates for employment — both summer and post-MBA — in Canada. International students may obtain a permit to work for three years after graduation. (Work visas of one to two years is the standard at most Canadian and international MBA programs).

International Loans

All international students admitted to the Full-Time MBA program are eligible to apply for a loan with the Bank of Montreal (BMO) or the Royal Bank of Canada (RBC) as part of the Rotman Professional Student Loan Plans. International students will be considered with a qualified Canadian resident co-signer or cash collateral.

International students can also be considered for a non-cosigned BMO loan for up to 100% of their program tuition fees with a Standby Letter of Credit issued from any BMO-approved bank in the student’s home country. With a Standby Letter of Credit, the bank in the student’s home country guarantees to pay the BMO loan amount should the student end up not re-paying it. The bank will then collect from the student the amount it pays to BMO.

International students are also eligible to apply for a non-cosigned loan from Prodigy Finance. Although Rotman has no formal agreement in place, this firm has indicated a willingness to entertain loans up to the entire tuition fee for international students attending Rotman. Please note that these loans are governed by Prodigy Finance, and all decisions regarding approval and eligibility are made by Prodigy Finance.

In addition, many countries provide loans or scholarships specific to their citizens. View a list of funding options for international students. The Rotman School does not guarantee, co-sign, nor endorse any of these specific programs for funding.

Financial Options: Yearly Schedule

While dates are subject to change according to regulations and availability, the following are typical schedules for the Full-Time MBA class.

First Year

  • Entrance scholarships and fellowships awarded with offer of admission; paid in September
  • September 1: BMO and RBC loans disbursed
  • September: Canada Student Loans disbursed (first installment)
  • October: Applications for Ontario Graduate Scholarships for the following academic year
  • January: Canada Student Loans disbursed (second installment)
  • March: Majority of interviews for summer employment
  • May: Call for applications for Rotman in-program awards including Scholars
  • May: Summer employment begins
  • Late August: Teaching assistantships assigned

Second Year

  • September 1: BMO and RBC loans disbursed
  • September: Rotman in-program awards, and second installment of entrance awards disbursed
  • September: Canada Student Loans disbursed (first installment)
  • January: Canada Student Loans disbursed (second installment)

Learn MoreYour Guide to Rotman Scholarships

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