Program Fees

MFI Annual Program Fees

Tuition and ancillary fees are set for the following academic year in July via Acorn Billing & Student Information.  All fees are subject to change each year.

Tuition Fees (based on 2023 – 2024)

For students beginning in September 2023 refer below for a list of fees:

  • $57,370 CDN for international students
  • $26,780 CDN for domestic students (Canadian citizens & permanent residents)

There are additional incidental and ancillary fees as follows:

  • $1,946 CDN incidental + system access fee ($58.00)
  • $1,730 CDN student placement fee
  • $756 CDN international students ONLY also have an additional mandatory fee for the University Health Insurance Plan (UHIP)

Total Fees

  • Domestic Students Total Fees (2023-2024) – $30,514 CDN 
  • International Students Total Fees (2023-2024) – $61,860 CDN

Financial Assistance

Domestic Students

If you are a domestic student, you can apply to the Ontario Student Assistance Program (OSAP) or the equivalent in your province.

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

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 
  • Semester 3 (Summer): student placement fee only due at the beginning of January

MFI Equity Award

Introduced in 2020, the MFI Equity Award has been created to encourage applicants falling under certain criteria to apply if they would otherwise not be able to secure funding for their studies. 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  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):

More Financial Aid and Advising information is also available at SGS.