So you applied to study abroad, and you’ve been accepted into your dream college or university program in another country. Congratulations! Now, the time has come for you to pay what’s called an international student tuition deposit. But what does that mean, when do you pay for it, and how?
We understand that some study abroad terms can be confusing, and can make anyone feel overwhelmed (especially when it comes to finances). But don’t worry—we’ll break them down for you. And we’re including a bonus FAQ section to answer any other questions you may have about paying your tuition deposit on time.
Read on to learn more!
What is a Tuition Deposit?
Firstly, let’s address the difference between tuition and a tuition deposit:
Tuition refers to the total fee owed by a student at a university or college, usually for one academic year of classes.
A tuition deposit is a portion of the tuition fee to pay, usually non-refundable, with a remaining balance due later in the academic year.
The total annual amount for tuition depends on factors like:
- your destination country
- study program
- level of education
- institution
- number of classes you’re enrolled in.
In most cases, international students need to prove to a country’s government that they have the funds to study there, both to pay tuition and for their living costs.
As one point of reference, the typical international student tuition enrolling in Canadian institutions is roughly C$10,000. That’s just one estimate, though. Your deposit amount will depend greatly on your chosen study program and destination country. We recommend checking with your local embassy, or the university or college you’ll be attending, to verify the necessary tuition deposit amount.
Knowing what you need to do to prepare for your studies can be tricky. To help guide you, we’ve created a study abroad timeline.
When To Pay Your Tuition Deposit (in Canada)
The terminology and timelines will change for each destination country, but the tuition deposit payment process is similar. Here’s what an average timeline looks like for students planning to study in Canada.
International undergraduate students in Canada typically need to pay their tuition amount within 30 business days of receiving an offer of admission (not to be confused with a “Letter of Acceptance”).
It’s important for you to pay your deposit before receiving your Letter of Acceptance (LOA). Once the tuition deposit has been received by your academic institution, your LOA will then be issued. Which means you’re now considered a registered student.
Tip: Tuition deposit due dates vary by institution, so it’s a good idea to know your institution’s deposit deadlines early. One of the many advantages of using ApplyBoard is that you can easily check your applications, including your tuition deposit, in one place!
How to Pay Your Tuition Deposit
Now that you know what your tuition deposit is, and when to pay it, it’s time to learn what paying it looks like:
- Log into your academic institution’s student account.
- Access your payment account.
- Find your tuition deposit fee with its due date.
- Depending on your institution, you may be offered alternative ways to pay, through payment processors such as Convera, Moneris, or PayMyTuition.
- Proceed to pay the set amount. To help ensure financial security, remember to only use the methods and links provided by your academic institution when paying.
If you have any specific questions about how to pay international student tuition, contact your academic institution directly for further instructions or clarifications.
Tip: You may be eligible for a scholarship or financial assistance. Check out your academic institution’s website for financial aid information.
Curious about financial aid options? Explore student scholarships for international students in Canada on our blog!
FAQs
Still have more questions? You’re in luck—we’ve answered some frequently asked questions below!
Note: Our answers are general in nature, and may vary depending on your academic institution’s regulations and policies. We recommend also checking with your academic institution for any specific questions related to your tuition deposit.
Q: “What if I miss the deadline for the tuition deposit?”
A: If you miss the deadline for your tuition deposit, a hold may be placed on your account and you run the risk of having your student status withdrawn.
Q: “What if I change my mind after making my tuition deposit before the start of the term?”
A: Tuition deposits are typically non-refundable.
Q: “What if I withdraw after my tuition fees have been paid in full?”
A: If you withdraw up until a certain date, you may be eligible for a full or partial refund of the tuition.
Q: “Can I pay more than the minimum deposit amount?”
A: In some cases, you can choose to pay more than your minimum deposit amount. Usually, the maximum you can pay at this time is your first year of tuition fees plus any on-campus housing costs.
Applying to study abroad comes with its own challenges, but with the right information, it can be worth it. Now that you know how and when to pay a tuition deposit, we hope our advice helps you get ready to study abroad!
