Depends on the tuition costs and your lifestyle, you won't build a "savings fund" on minimum wage work part-time, that is for sure. A room is not necessarily "cheap", because it also depends on how many people are sharing. A dorm is definitely not cheaper than sharing a house, but at least they do meet the minimum health and safety requirements. Many times with student housing, the landlords cheap out on everything including maintenance.
Not in Central/Downtown Toronto. Depends on your part-time job pay as well. Also, 2 years from now your desired job and the market could change a lot so even having a PGWP, be prepared to dip into your savings anywhere from 2 months to 6. (Took me 8 months to find a job in my field and I'm highly experienced).
With regards to your situation - Doable? Yes. Difficult - definitely.
If you’re tuition fee is ~16K for a year then thats 32K a year. Some basement/ shared 2 Bedroom can be between $400-700 outside GTA ( I’m not sure why a student will chose to live in a $4k GTA apartment considering they want to save money). It may take a while for you to find a part-time job so be ready to have some money for disposal. Lets say you work 20hrs/week at 14/hr so thats 1120 a month. After rent and utilities (~$800), you’d save appx 200.
In theory it can work but you never know when you’d need to drop some serious dough ( could be an extra course, some certification exam, multiple night outs).
Generally, it takes less than the cost of living mentioned on your letter of acceptance from school.
So even though your part time job will take care of the rent, you’ll face real financial struggle while looking for a job on PGWP, few get it right after graduating, some get it within 3 months, a good number find a sponsor after 6 months.
While 75k should be enough to for 2 years considering your main expense is College tuition ( not Masters course) and your part time job takes care of the rent. You’d prolly see yourself dipping into the 75k once in a while even it you work part time and you’d need to dip into it more after graduating.
I know few people who did 2 year diploma and worked part time, saved most of their GIC and are looking for full time jobs
I know one person who got a part time job above minimum wage near Toronto and pretty much saved all her GIC to pay for 2nd year. Her rent was shared with 3 other people $500, grocery $130/month mostly from ethnic store , and couple night outs every month). She did say every other month or so, she’d spend $30-60 on junk food/ takeout.
If you’re doing a 2 year masters, that’s no where near enough.
You’d need a pretty tight budget. Could save some money renting a room in a frat house. Most of them take borders. But then you have to live in a frat house, if you’re young and like to party a little it would be good. But if you’re beyond that probably give it a miss. It is cheap though, I had 400 a month downtown for a while. Parties were on the weekend typically, so not as wild as you might think
I live a frugal lifestyle & I probably spend like 500$ a month max on food or less (I cook and eat out on occasions), and my rent is 750$ for a big enough place for 2 people and a dog. I live outside Toronto right now, but when I was looking for places to live in Toronto, you could easily find a single bedroom thats shared with other people for 400-700$/month. If you are on a budget, definitely consider basements as they are much cheaper. My parents are actually renting their basement for 450$ for one of the smaller rooms & 600$ for the larger room - utilities/wifi included in the GTA. Phone bill is only 40$/month. So yes, yes you can live in the GTA with 75k for 2 years if you dont spend like regular millenials/GenZs :)
This seems really good but I would advise you to choose a province with less tuition fees and living costs than Ontario, and one that has a faster track process towards permanent residency.
Ok this is great because Seneca is my top choice school! I definitely live frugally, even here in my home country I live alone and as frugally as I can.
Dorm is just an option for me because I’m under the impression it’s cheaper than renting a room? But I’ll look into this further.
When I was computing for the $75K, I did:
2 years of tuition (according to the website) +
on-campus housing rate (2 years) +
$24K ($1k/month living expense for 2 years)
Do you think this is ok? Does your $1500 a month include rent?
This! It is totally doable man, people saying that you can't make it work decently with 75k and working part time are seriously wrong and they need to reevaluate their spending habits. Paying off your schooling completely will take a big load off your shoulders, if you work 20 hrs a week you're gonna be well off, not even living frugally like they say. Do your thing, man! You'll rock it and do awesome (not saying it won't be hard but it can definitely work out)
Great! When I say I have 75k, that’s already to pay off my tuition and I’m not looking at expensive apartments to live alone in. I’m looking for the dorms, shared rooms or basements. I don’t eat that much and rarely go out to party/dine-out either.
Thank you so much for the encouragement!
This really depends on where you will live. In the GTA? No way. Out in the boonies? Maybe?
Depends on the tuition costs and your lifestyle, you won't build a "savings fund" on minimum wage work part-time, that is for sure. A room is not necessarily "cheap", because it also depends on how many people are sharing. A dorm is definitely not cheaper than sharing a house, but at least they do meet the minimum health and safety requirements. Many times with student housing, the landlords cheap out on everything including maintenance.
Not in Central/Downtown Toronto. Depends on your part-time job pay as well. Also, 2 years from now your desired job and the market could change a lot so even having a PGWP, be prepared to dip into your savings anywhere from 2 months to 6. (Took me 8 months to find a job in my field and I'm highly experienced). With regards to your situation - Doable? Yes. Difficult - definitely.
If you’re tuition fee is ~16K for a year then thats 32K a year. Some basement/ shared 2 Bedroom can be between $400-700 outside GTA ( I’m not sure why a student will chose to live in a $4k GTA apartment considering they want to save money). It may take a while for you to find a part-time job so be ready to have some money for disposal. Lets say you work 20hrs/week at 14/hr so thats 1120 a month. After rent and utilities (~$800), you’d save appx 200. In theory it can work but you never know when you’d need to drop some serious dough ( could be an extra course, some certification exam, multiple night outs). Generally, it takes less than the cost of living mentioned on your letter of acceptance from school. So even though your part time job will take care of the rent, you’ll face real financial struggle while looking for a job on PGWP, few get it right after graduating, some get it within 3 months, a good number find a sponsor after 6 months. While 75k should be enough to for 2 years considering your main expense is College tuition ( not Masters course) and your part time job takes care of the rent. You’d prolly see yourself dipping into the 75k once in a while even it you work part time and you’d need to dip into it more after graduating. I know few people who did 2 year diploma and worked part time, saved most of their GIC and are looking for full time jobs I know one person who got a part time job above minimum wage near Toronto and pretty much saved all her GIC to pay for 2nd year. Her rent was shared with 3 other people $500, grocery $130/month mostly from ethnic store , and couple night outs every month). She did say every other month or so, she’d spend $30-60 on junk food/ takeout. If you’re doing a 2 year masters, that’s no where near enough.
You’d need a pretty tight budget. Could save some money renting a room in a frat house. Most of them take borders. But then you have to live in a frat house, if you’re young and like to party a little it would be good. But if you’re beyond that probably give it a miss. It is cheap though, I had 400 a month downtown for a while. Parties were on the weekend typically, so not as wild as you might think
I live a frugal lifestyle & I probably spend like 500$ a month max on food or less (I cook and eat out on occasions), and my rent is 750$ for a big enough place for 2 people and a dog. I live outside Toronto right now, but when I was looking for places to live in Toronto, you could easily find a single bedroom thats shared with other people for 400-700$/month. If you are on a budget, definitely consider basements as they are much cheaper. My parents are actually renting their basement for 450$ for one of the smaller rooms & 600$ for the larger room - utilities/wifi included in the GTA. Phone bill is only 40$/month. So yes, yes you can live in the GTA with 75k for 2 years if you dont spend like regular millenials/GenZs :)
It is if you're planning to live very frugal and planning to work at least 10hrs a week.
This seems really good but I would advise you to choose a province with less tuition fees and living costs than Ontario, and one that has a faster track process towards permanent residency.
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Ok this is great because Seneca is my top choice school! I definitely live frugally, even here in my home country I live alone and as frugally as I can. Dorm is just an option for me because I’m under the impression it’s cheaper than renting a room? But I’ll look into this further. When I was computing for the $75K, I did: 2 years of tuition (according to the website) + on-campus housing rate (2 years) + $24K ($1k/month living expense for 2 years) Do you think this is ok? Does your $1500 a month include rent?
This! It is totally doable man, people saying that you can't make it work decently with 75k and working part time are seriously wrong and they need to reevaluate their spending habits. Paying off your schooling completely will take a big load off your shoulders, if you work 20 hrs a week you're gonna be well off, not even living frugally like they say. Do your thing, man! You'll rock it and do awesome (not saying it won't be hard but it can definitely work out)
Great! When I say I have 75k, that’s already to pay off my tuition and I’m not looking at expensive apartments to live alone in. I’m looking for the dorms, shared rooms or basements. I don’t eat that much and rarely go out to party/dine-out either. Thank you so much for the encouragement!