MFI Annual Program Fees
The tuition and ancillary fees for the 2021-2022 academic year will be available in July 2020 on the University of Toronto Student Accounts website. All fees are subject to change each year.
Tuition Fees (based on 2020 – 2021)
For students beginning in September 2019 please refer below for a list of fees:
- $51,500 CDN for international students
- $26,780 CDN for domestic students (Canadian citizens & permanent residents)
There are additional incidental and ancillary fees as follows:
- $1,559 CDN incidental + system access fee
- $1,295 CDN ancillary fee
- $1,068 CDN student placement fee
- $720 CDN international students ONLY also have an additional mandatory fee for the University Health Insurance Plan (UHIP)
- Domestic Students Total Fees (2020-2021) – $30,702 CDN
- International Students Total Fees (2020-2021) – $56,142 CDN
If you are a domestic student, you can apply to the Ontario Student Assistance Program (OSAP) or the equivalent in your province.
- Newfoundland Student Aid
- Nova Scotia Student Loans
- PEI Student Loan Program
- New Brunswick Student Aid
- Quebec Loans (English)
- Quebec Loans (Francais)
- Ontario OSAP Web site
- Manitoba Financial Aid
- Saskatchewan Loans
- Alberta Loan Programs
- British Columbia Student Financial Aid
- Yukon Financial Aid
- NWT Financial Assistance
- Nunavut Student Loans
Scotiabank and the University of Toronto have proposed a Professional Student Loan Plan for University of Toronto students enrolled in a professional program. Further information is available
International students should seek funding from their home countries.
If you are an international student, you may be eligible to apply for scholarships offered by your home government, or there are independent loan programs who offer loans to international students such as Prodigy Finance or MPOWER Financing.
University of Toronto School of Graduate Studies (SGS) offers some limited International Student Awards. Please refer to their website.
International students can contact the Centre for International Experience at U of T St George campus.
Some international applicants may be eligible to apply for a Study in Canada Scholarship.
Fee Payment Schedule
- Semester 1 (Fall): 1st term tuition + incidentals due by the end of August
- Semester 2 (Winter): 2nd term tuition + incidental + ancillary fee due by the end of November
- Semester 3 (Summer): student placement fee only due at the end of January
NEW! MFI Equity Award
New for 2020 is the MFI Equity Award. to encourage applicants falling under certain criteria to apply if they would otherwise not be able to secure funding to enrol. Award amounts are dependent on applicant pool and financial need however can be between $10,000 to $40,000. learn more about this award at https://mfi.utoronto.ca/prospective-students/masters-of-financial-insurance-equity-award/ An early completed online application is beneficial for consideration.
Additional Financing Options
Please remember that the MFI Program has a paid summer co-op work term. This may assist students with funding their education (pay is dependent on position/company/length of contract, minimally 16 weeks).
In addition, some graduate students supplement their academic year income by securing a Teaching Assistant (TA) position. Please note that the hiring decision rests entirely with the hiring professors’ preference and department.
For other funding options, for both domestic and international students, please refer to University of Toronto’s School of Graduate Studies (SGS): http://www.sgs.utoronto.ca/currentstudents/Pages/Financing-Your-Graduate-Education.aspx
More Financial Aid and Advising information is also available at SGS.