A Guide to MS Scholarships in Canada

A Guide to MS Scholarships in Canada

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Discover a comprehensive guide to secure MS scholarships in Canada. Explore all scholarships including university-specific scholarships that can ease your financial burden to study in Canada.

Rohit Gidwani
Updated on:  13 Apr 2024  | Reviewed By: 
| 117 | 7  min read

Embarking on a journey toward a Master’s (MS) degree in Canada is an elating prospect for international students. However, the financial aspect can be a significant hurdle. Recognizing this barrier, Canadian universities and the government offer a plethora of scholarships tailored to support talented and ambitious international students who wish to pursue a master’s degree in Canada. This blog will cover master scholarships in Canada, offering invaluable resources for aspiring students. From details of the application process to study master's in Canada with scholarships, and types of scholarships to advice for crafting a compelling application, our blog covers it all.


Types of MS Scholarships in Canada

Explore a variety of MS scholarships in Canada for international students, offering financial support for tuition, living, and other program-related expenses.

  • list items Merit-based scholarships: Merit scholarships are awarded to students who demonstrate academic excellence, leadership skills, and extracurricular achievements. 
  • list items Need-based scholarships: Some universities provide need-based packages to support the academic endeavors of international students facing financial constraints.
  • list items Government-funded scholarships: The Canadian government aims to attract and retain world-class students and provide them with financial support during their studies.
  • list items Corporate scholarships: Some companies offer scholarships to students pursuing degrees in specific fields of study such as business, engineering, technology, etc.

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Top MS Scholarships in Canada

Several prestigious scholarships are available to international students pursuing master's or MS degrees in Canada. Some of the top scholarships include:

The IDRC Research Awards

  • list items The International Development Research Centre offers financial support to Canadians, permanent citizens of Canada, and citizens of developing countries enrolled in master’s or PhD programs at a recognized institution.
  • list items The award value ranges between 42,033 CAD to 48,659 CAD. 
  • list items The scholarship applications begin in January each year and close in February.
  • list items The scholarship aims to promote research and innovation in Canada.
  • list items The recipients are chosen based on academic merit, research interests, publication records, and fulfillment of admission criteria.

P.E.O. International Peace Scholarship

  • list items The P.E.O. International Peace Scholarship Fund aims to provide women from different countries to pursue graduate studies in the U.S. or Canada.
  • list items Applicants must be 
  • list items The maximum amount of scholarship is 12,500 CAD. The exact amount of the award is decided based on need.
  • list items International applicants enrolled at Cottey College are also eligible for the scholarship.
  • list items The scholarship is renewable for 1 year so the recipient can receive the amount for a maximum of 2 years.
  • list items The awardee expects students to complete their graduate degrees and return to their home country to utilize their education for global peace.

FINCAD Women in Finance Scholarship

  • list items The FINCAD Women in Finance Scholarship provides funding to support women in their post-graduate studies in finance and capital markets.
  • list items The scholarship is valued at 20,000 USD and is awarded once a year.
  • list items To be eligible for the award, female candidates must be enrolled in a full-time master’s degree in finance.
  • list items The candidate should have less than 10 years of work experience in total and less than 5 years of experience in the field of finance.
  • list items The scholarship is highly competitive and is awarded to one eligible woman where 50% of the award is directly paid to the recipient and the remaining 50% is paid to the educational institution to contribute towards tuition.

Go Global MBA Scholarship

  • list items The Go Global MBA scholarships, open to anyone enrolled in an MBA degree abroad for Fall 2024, offer up to $7000 to cover tuition fees. Applicants must have a bachelor’s degree with high academic standing, meet language proficiency requirements, and have no more than 5 years of professional work experience. The application, due by April 24, 2024, requires an elevator pitch and a short essay.
  • list items Ideal candidates should show leadership potential, entrepreneurial spirit, and a commitment to sustainable industry practices. This scholarship also supports students pursuing an online MBA, allowing those studying via distance learning from a non-native country to benefit.

You May Also Like: Everything About MBA in Canada


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University-specific MS Scholarships in Canada

Take a look at the table to learn about some of the top university-specific MS scholarships in Canada for international students:

Name of the University Eligibility Criteria Amount

McGill University McCall MacBain Scholarship

  • list items Values: academic strength, community involvement, leadership, entrepreneurship, character.
  • list items Requirements: minimum degree, English proficiency.
  • list items Process: application review, interview for shortlisted.

Full scholarship

University of Toronto Ontario Graduate Fellowship

  • list items Eligibility: Full-time graduate students at University of Toronto.
  • list items Grade requirement: Minimum A- in last 2 years.

5,000 CAD per session up to 3 sessions

University of Manitoba Graduate Fellowships

  • list items GPA requirement: Minimum 3.0 for admission.
  • list items Exclusions: MBA, Master of Finance, Master of Supply Chain Management.

14,000 CAD per year up to 2 years

University of Waterloo International Master’s Award of Excellence

  • list items Selection: Academic excellence in admission application.
  • list items Eligibility: Research-based master’s degree students.

2,500 CAD per term up to 5 terms

University of Winnipeg President’s Scholarship for World Leaders

  • list items Requirement: Minimum 80% at admission.
  • list items Recommended: Extracurriculars and leadership.

5,000 CAD

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How to Apply for MS Scholarships in Canada?

Applying for master's or MS scholarships in Canada as an international student involves several steps. Here are the steps to help you get started:

  • list items Research scholarships: Begin by looking for financial aid options available specifically for international students aiming for a master’s or MS degree in Canada. Start this process early while also selecting your prospective universities.
  • list items Check eligibility: Review the eligibility requirements for each scholarship that aligns with your academic and career aspirations. Scholarships at most universities are available for international students who meet the admission criteria, focusing on merit.
  • list items Prepare documents: Gather all necessary documents required for scholarship applications, including: Academic transcripts from previous studies Proof of English language proficiency Letters of recommendation Statement of purpose or personal statement Updated resume
  • list items Academic transcripts from previous studies
  • list items Proof of English language proficiency
  • list items Letters of recommendation
  • list items Statement of purpose or personal statement
  • list items Updated resume
  • list items University applications: Apply for university admission as part of the scholarship eligibility process. Being accepted into a master’s program is often a prerequisite for university-specific scholarships.
  • list items Submit scholarship applications: After securing university admission, promptly apply for scholarships. Pay close attention to each scholarship's document requirements and deadlines. Some scholarships may also include an interview stage, so prepare by practicing typical interview questions.
  • list items Track applications: Once your scholarship applications are submitted, ensure all documents are received and keep an eye on your application status. Follow up if necessary to demonstrate your keen interest in the opportunity.

Studying for a MS in Canada is more accessible with scholarships for international students. Start early to find scholarships that fit your achievements, goals, and needs. Ensure you have time to collect necessary documents and consider consulting with advisors for insights on submitting strong applications on time. Canada's diverse and welcoming educational environment offers a transformative experience. For more scholarship opportunities in Canada, explore GyanDhan's scholarship portal.

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Frequently Asked Questions

How to get MS scholarship in Canada?

Indian students interested in pursuing a master’s in Canada should start by thoroughly researching various scholarship opportunities. Before applying, students must carefully review the eligibility criteria, application requirements, and deadlines for the available options. 

Can an Indian get a scholarship for master's in Canada?

Yes, Indian students with strong academic records who fulfill university admission requirements are eligible for scholarships in Canada for international students masters. Government organizations, external agencies, and various companies also offer sponsorships for international students to pursue master's studies in Canada.

Can I do a masters in Canada with full scholarship?

Securing a full scholarship for masters in Canada for international students is possible but highly competitive. A combination of merit-based and Government scholarships offers full funding that covers tuition fees and living expenses. International students can also apply for need-based scholarships for financial support to pursue graduate studies in Canada. Renowned universities such as the University of Alberta and the University of Toronto offer full scholarships to exceptionally talented international students with strong academic records and supporting credentials.

How can I apply for a masters scholarship in Canada?

Some universities may consider all incoming students for entrance scholarships based on merit while others may require a separate application. You can apply for government-sponsored scholarships through their official website. Take note of the required documents and deadlines carefully. Submission of a strong application is recommended to maximize your chances of securing financial aid.

What percentage is required to be eligible for master's scholarships in Canada?

The minimum percentage required to study for a master's in Canada with a scholarship varies depending on the specific scholarship program and the institution offering it. To avail of scholarships with high value, it is generally recommended to score 80% or above at the undergraduate level. A higher score and strong academic performance throughout undergraduate studies enhance the chances of qualifying for master's scholarships in Canada.

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