FEES AND FINANCIAL AID

2012 Program Fees

Over the course of the four-year program, JD/MBA students pay first year program fees to the Faculty of Law and second year tuition fees to the Rotman School. Students pay the program fees corresponding to the higher of the two faculties' fees in third and fourth years.

While this might appear to be a large outlay, students should consider the value of the individual degrees and the benefits of the condensed program. Students typically find opportunities in business and law during their summers in the program, which helps with their financing. Moreover, the financial aid officers at both faculties are ready and willing to help students find ways to finance their education though university and government assistance programs.

Domestic students who entered the JD/MBA program in September, 2011 will pay the following fees:

Year 1   $25,389*

Year 2

$41,258*

Year 3

$42,908*

Year 4

$44,644*

There may be additional incidental/ancillary fees levied for enrolment in specific courses or for individual circumstances. Incidental fees, which include campus fees and student society fees, cover the fall and winter terms only. Please check your invoice/account.

*NOTE: These are estimated domestic students’ tuition fees and are subject to Governing Council approval. For complete domestic students’ tuition fees information please refer to the University of Toronto ’s Tuition Fee Schedule.

Scholarships

Entrance scholarships and fellowships are offered on the basis of exceptional merit and on the combination of both merit and need. All applicants to the JD/MBA are automatically assessed for entrance scholarships from both Faculties unless otherwise specified.

New in 2012: Rotman has just launched a new JD/MBA scholarship. The top 20 students admitted to the JD/MBA program will each receive a guaranteed $30,000 scholarship.  Please note that admission decisions can be made prior to entering the joint program, but scholarship decisions will be made when students are in first year Law.  To be eligible for the $30,000 scholarship, applications must be received by March 1st of the MBA start year (i.e. while in first year Law).

Ontario Graduate Scholarship
The most common award for combined students to obtain is the Ontario Graduate Scholarship (OGS). OGS is a scholarship available to full time JD/MBA students in the second year of the combined program and in either the third or fourth year of the program. It is based purely on academic merit and is allocated for two years of graduate study only. OGS applications are due in the fall each year and are available at the University of Toronto, School of Graduate Studies.

Students entering first year in the Faculty of Law

  • David MacDonald Award in Law and Business is awarded to a student in the JD/MBA program on the basis of financial need and academic excellence.
  • The Harrowston Inc. Awards are awarded on the basis of financial need and academic excellence to students in the JD/MBA program, with a demonstrated involvement in community service.

Students entering second year at the Rotman School of Management

  • The J.A.D. Slemin Memorial Fellowship is awarded to a first year student majoring in Marketing, with a preference toward JD/MBA students.
  • Dean's Scholarship awarded on the basis of financial need to a student entering the JD/MBA program.

Financial Aid
The Faculty of Law and the Rotman School of Management strive to admit only the best candidates to its JD/MBA programs, and is working to remove the financial barriers that qualified applicants may face in making this serious investment in time and expense over the next four years. We are committed to helping you find a way to finance your education by providing you with a broad range of options to consider.

Financial aid at both the Faculty of Law and the Rotman School is comprised of distinct interest-subsidized loan programs (through Scotiabank at the Faculty of Law, and through the Bank of Montreal and the Royal Bank of Canada at the Rotman School) and bursary assistance. All JD/MBA students are eligible for consideration for financial aid from both the Law School and the Rotman School of Management during the combined program.

Scotiabank Professional Student Plan
The Faculty of Law has partnered with Scotiabank to provide domestic JD students (Canadian Citizens and permanent residents) with the Scotia Professional Student Plan, specifically tailored to helping students meet the education costs of the JD degree.  The Faculty of Law assists students by providing an subsidy for the monthly interest on this amount for the duration of the student’s program.  Students may be eligible for this interest-free loan based on financial need as assessed by the Faculty of Law.  In addition to receiving the interest-subsidized basic amount, students may be eligible to draw additional funds for living expenses; this “overdraft” amount is not interest-subsidized.  Please refer to the financial aid section of the Faculty of Law JD program website for full details: http://www.law.utoronto.ca/prosp_stdn_content.asp?itemPath=3/6/16/0/0&contentId=824&cType=webpages

Professional Student Loan Plans (PSLP)
When JD/MBA students enter their second year of the combined program they have the option of additional funding through a PSLP loan.  The Rotman School has partnered with BMO (Bank of Montreal) and RBC (Royal Bank of Canada) to provide JD/MBA students with the interest-subsidized PSLP, specifically tailored to help students meet the educational costs of the MBA degree.

Domestic students (Canadian Citizens and permanent residents) are eligible to obtain a loan amount that will cover the annual MBA tuition fee, as well as all University and Rotman incidental fees. The Rotman School pays the interest incurred on a student loan from either BMO or RBC for the duration the student is enrolled in the second, third, and fourth years of the combined JD/MBA program.  A loan through the PSLP is administered separately from the Scotiabank loan program offered at the Faculty of Law.

Rotman Interest Subsidy Program (RISP)
Students who have obtained student or education loans from an officially-recognized financial institution (in Canada or in their home country) other than BMO and RBC can enroll in the Rotman Interest Subsidy Program (RISP). The Rotman School may provide a subsidy for the interest incurred on a student loan for the duration the student is enrolled in the second, third, and fourth years of the combined JD/MBA program (e.g., September 2010 to June 2013). The subsidy will be calculated based on the prime interest rate (in Canada) on a loan amount not to exceed the program fees the second, third, and fourth years of the combined JD/MBA program.

Students who continue with the Scotiabank Professional Student Plan for the second, third, and fourth years of the combined JD/MBA program will also be covered by the RISP.

Government Loans
Each provincial government administers and maintains a student financial aid program in cooperation with the federal government's Canada Student Loan Program. Students are responsible for researching funding opportunities from their respective provincial government and for applying where eligible. When you apply to your provincial government for assistance, you are also automatically applying to receive a loan through the federal Canada Student Loans Program (CSL). 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 http://osap.gov.on.ca.

Eligibility requirements, maximum borrowing amounts and loan repayment policies vary from province to province. Usually 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.

School of Graduate Studies Emergency Loan
The School of Graduate Studies (SGS) has an Emergency Loan Program that allows for a maximum amount of $500 to be obtained in emergency situations. Contact SGS via e-mail at graduate.awards@utoronto.ca, or visit their Web site at www.sgs.utoronto.ca/finance.asp

Bursaries
All JD/MBA students are eligible for consideration for bursaries from the Faculty of Law during the 4-year program. Admission to the JD/MBA Program is considered on a "need-blind" basis and eligibility for financial aid is not assessed prior to the decision to admit. However, applicants should begin the process of determining financial need early by considering what personal financial resources are available to contribute towards their education. Bursary assistance is provided to domestic students who demonstrate the greatest financial need, but only after exhausting all other funding sources, in particular government and Scotiabank Interest-Subsidized Tuition and Laptop Loans.   Students apply for bursaries through the Faculty of Law.
First year students’ financial aid applications must be returned to the Faculty of Law by mid July and upper year students’ financial aid applications must be returned to the Faculty of Law by mid September.  For further information please refer to the financial aid section of the Faculty of Law website.

School of Graduate Studies Emergency Bursary Program
These bursaries are given on the basis of financial need to students who are already in a graduate degree program and for whom continuation in the program is in jeopardy for financial reasons. These bursaries are not considered to be a source of long-term funding for a student's program, but are intended to be a bridge for temporary lack of funds. Funds are dispersed throughout the year. Click here for the SGS Graduate Bursary Form or send an e-mail to graduate.awards@utoronto.ca.