Tuition: start with your agreement
Before comparing rents, ask your home university which agreement covers your stay and what fees you will continue to pay to it. Then check what the Canadian institution will charge. The international tuition rate for a complete degree is not necessarily the rate for an exchange student.
At the University of Ottawa / Université d’Ottawa, an exchange under an agreement does not incur the institution’s tuition and ancillary fees. A paid option without an agreement is different. Fees related to certain courses and living expenses may still apply.
This example applies to the options described by Ottawa, not to all visiting students. For your plans, request a written response and divide the amounts into 3 columns: fees at your home institution, fees at the host institution and personal expenses. An exemption in the second column does not eliminate the other two.
Two published budgets, two sets of items to review
Institutional estimates provide useful reference points, as long as you keep their duration and limitations in mind. For an exchange session in 2026-2027, the Université de Sherbrooke lists the following items, among others:
| Item | Estimate per session |
|---|---|
| Health insurance | $300 |
| Housing, electricity and heating | $2,500 |
| Books and supplies | $400 |
| Food and personal care | $2,000 |
| Phone and Internet | $500 |
| Personal expenses | $500 |
| Unexpected expenses | $200 |
| Intercity transportation | $120 |
| Sum of the 8 items, calculated by StudyCanada | $6,520 |
The total published by the university is, however, $6,020. Our sum is $500 higher than the displayed total: it is not a complete cost confirmed by the institution. Ask the exchange office to confirm the items and total, then add expenses specific to your plans that are not included in the table, especially your international travel.
HEC Montréal, for its part, estimates certain expenses at $8,000 to $9,000 for 4 months, including housing, food, transportation, personal expenses and insurance. The reference year is not indicated.
These figures are not a ranking of Sherbrooke and Montréal: the periods and expenses included are not necessarily comparable. Instead, use the detailed items to build 2 budgets covering the same dates and categories.
Housing: count the months billed, not just the class period
A room with a seemingly affordable monthly rent can cost more than expected if the lease starts before you arrive or ends after you leave. Include the actual billed period in your budget, not just the weeks of instruction.
The example of Université Laval residences shows why you need to read the terms and conditions: in the fall, the offer normally requires an 8-month lease. Someone on exchange for only 1 session must terminate it after 4 months under the applicable terms. The winter lease covers January to April. A deposit equal to the first month’s rent is required when the offer is accepted.
Places are limited: an application is not a housing offer. Plan a backup option and, before booking, ask:
- the exact lease dates and the termination procedure;
- the amounts to pay and when they are due;
- whether heating, electricity, Internet and furniture are included;
- whether you can move into the room as soon as you arrive.
If not, add temporary accommodation to your budget. Laval’s terms apply to its residences: do not automatically apply them to another university or a private rental.
Insurance: check your coverage and its cost
Sherbrooke’s exchange budget includes $300 for health insurance per session in 2026-2027. This is an item in that institution’s estimate, not a rate to apply to all students in Canada. Ask your host university what coverage and amount apply to your situation.
In Quebec, some French exchange students may benefit from the social security agreement. At Sherbrooke, those concerned must, among other things, obtain form SE 401-Q-106 and have their coverage confirmed. Citizenship does not replace the required steps and supporting documents.
To plan your cash flow, ask whether you will need to pay for insurance before your coverage is confirmed and whether a refund would then be possible. Ask for details about the documents to provide, timelines and applicable conditions. Also check what protection you need before and after the covered period, as well as which services are excluded.
Formalities: distinguish fees from proof of funds
A study permit exemption may apply to studies of 6 months or less if Immigration, Refugees and Citizenship Canada (IRCC) conditions are met. In particular, the courses must not be part of a longer program and must be completed within the authorized period of stay. The word “semester” is therefore not enough to determine your situation. Also check your travel documents and, if you are going to Quebec, the requirements that apply to your stay.
| Application, where applicable | Official fee |
|---|---|
| Electronic Travel Authorization — eTA | $7 |
| Study permit | $150 |
| Biometrics for one person | $85 |
These amounts are not a package to add together automatically. Depending on your situation, some applications may not apply and other documents may be required. This is general information and does not constitute individual immigration advice.
If you apply for a study permit, keep your personal budget separate from the required proof of financial support. For applications submitted on or after September 1, 2026, the federal table indicates $23,448 per year for living expenses for 1 person outside Quebec, excluding tuition and transportation. This annual amount is neither the price of a semester nor an expense to add a second time to housing and food. Consult the requirements that apply to your location and situation.
Move from total cost to the cash you need
Your calculation should answer 2 questions: How much will the stay cost in total, and how much will you need available by each payment deadline?
Review the items below, noting the amount, its source and the payment date for each:
| Item | Question to resolve |
|---|---|
| University fees | What remains payable at your home and host institutions? |
| Housing | How many months will be billed, and what deposit must you pay in advance? |
| Insurance | What amount applies, and do you need to pay in advance? |
| Daily living expenses | What are you budgeting for meals, transportation, phone and supplies? |
| Travel and arrival | What quote matches your dates, luggage and arrival? |
| Formalities and unexpected expenses | Which applications apply to you, and what reserve do you want to keep? |
Then calculate: amount still to fund = planned expenses − confirmed funding. A scholarship you have applied for is not yet confirmed funding: find out its amount, conditions and payment date.
Finally, make a calendar. A deposit or ticket may have to be paid before funding is disbursed. Test a less favourable scenario, such as more expensive housing or funding paid later. This check does more than change the total: it shows whether you will have the money when payments are due.
Universities and programs: compare the same questions
StudyCanada profiles for Université Laval, the University of Ottawa / Université d’Ottawa and the Université de Sherbrooke provide information about the institutions mentioned in this guide.
To choose between 2 destinations, ask each one about the fees still payable, housing conditions, applicable insurance and payment dates. Also ask your home university about agreements available for your program and departure period. An institution profile does not guarantee admission as an exchange student, access to a course or a place in residence.