Despite being a destination of choice for most international student, studying in Canada is quite expensive as tuition fees rose by 7.6% for international undergraduates in the 2026-2027 academic session according to a report by Statistics Canada. The average tuition cost for international undergraduate students stood at around $29,714 Canadian dollars annually while an average living cost was around $10,000.
More than 800 scholarships are available for international students at Canadian universities for the 2026/2027 academic session. Here are our top picks:
Canadian Universities offering Lucrative Scholarships 2026
- University of Toronto
Founded in 1827, the University of Toronto is Canada’s top university with a long history of challenging the impossible and transforming society through the ingenuity and resolve of its faculty, students, alumni and supporters. The University is one of the world’s top research-intensive institutions, bringing together top minds from every conceivable background and discipline to collaborate on the world’s most pressing challenges. The university is home to thousands of international students and offers lucrative scholarships and funding opportunities. Notable among the scholarships available at the University is the Lester B. Pearson International Scholarships.
- University of Saskatchewan
Located in Saskatoon, Canada and founded in 1907,the University is a public research institution that is ranked among the best in the country. The highly ranked university offers programmes in all spheres of academic endeavours at both the undergraduate and postgraduate levels. The university offers lucrative scholarships across all its courses – making education easily accessible to international students who would ordinarily not be able to fund their education. There are several fully-funded masters and PhD scholarships available for students who meet the eligibility criteria. Master’s scholarship at the university is valued at $18,000 CAD per year while PhD scholarships are valued at $22,000 per annum.
- University of Waterloo
The University of Waterloo is ranked among the top best public research universities in Canada with over 140 internationa scholarships available for students from all over the world. Scholarships available in this university are either course-specfic or country-specific awards for undergraduate, masters and PhD students. These scholarships may worth up to $10,000 CAD which may be awarded to students automatically as they gain entrance into the university. Some of the scholarships include:
- Colonel Hugh Heasley Engineering Scholarships
- Frank and Janet Hill Scholarship for Women in Math
4. University of Alberta
The University is among the top 5 Canadian universities and one of the top 150 in the world offering more than 200 undergraduate programs and more than 500 graduate programs with 250 specializations and 300 research areas. The standard of learning at the university and its reputation over the years continues to attract students from over 150 countries of the world. The University offers fully funded master’s and PhD scholarships for international students who meets the selection criteria.
To further attract international students, the university recently made adjustments to its English proficiency requirements which allows international with certain criteria to apply for scholarships without needing to write their IELTS test. Awards amounting to over $34 million in undergraduate and postgraduate scholarships and financial support are provided each year to students.
Some of the scholarships include:
- Admission-based scholarships (International Admission Scholarship, Regional Excellence Scholarship, Gold Standard Scholarship).
- Application-based scholarships (President’s International Distinction Scholarship, International Leader Scholarship, May Quon Undergraduate Scholarchip etc.).
- Transfer Scholarships.
5. McGill University
Located in Montreal, McGill University ranks among Canada’s most prestigious universities, attracting thousands of international students from over 150 countries every year, and has the highest percentage of PhD students of any Canadian research university. There are several scholarships and student aid programs available for undergraduate and postgraduate students, including:
- Frugal Scholar Program
- Entrance Scholarships
- McGill Financial Aid
- Government Aid
- Work Study program
FAQs
1. Which Canadian universities offer the most lucrative scholarships for international students in 2026?
Some of the top universities in Canada offering highly lucrative scholarships for international students in 2026 include the University of Toronto, University of British Columbia, McGill University, University of Alberta, and University of Waterloo. These institutions offer fully funded and partially funded scholarships covering tuition fees, living expenses, accommodation, and sometimes travel costs.
2. What types of scholarships do these universities offer to international students?
These universities provide a variety of scholarships such as entrance scholarships, merit-based scholarships, need-based scholarships, and fully funded awards. Examples include the Lester B. Pearson International Scholarship, UBC International Scholars Program, McGill Entrance Scholarships, and Waterloo International Student Entrance Scholarships. Many of these awards cover full tuition and offer additional financial support.
3. What are the eligibility requirements for these scholarships?
Eligibility requirements vary depending on the university and scholarship program. However, most scholarships require excellent academic performance, leadership qualities, extracurricular involvement, and proof of English language proficiency (such as IELTS or TOEFL). Some scholarships also require nomination by the student’s previous school or a separate scholarship application.
4. How can international students apply for these scholarships in Canada?
International students typically apply for scholarships when submitting their admission application to the university. Some scholarships are automatically considered upon admission, while others require separate applications, essays, or supporting documents. It is important to apply early, meet admission requirements, and regularly check each university’s official scholarship page for deadlines and instructions.