Financing UPEI Graduate Studies
If you’re considering grad school, but worried about the cost, creating a plan will help you determine how it can be affordable.
If you’re currently employed or plan to work while completing your degree, factor your income and expenses to create a realistic estimate of your budget.
Start by calculating your expenses
Tuition for graduate school will depend on your program of study. Programs organize tuition by course, have a flat tuition amount per term, or advertise tuition for the full program. In addition to tuition, each semester you are required to pay student fees, health / dental insurance, and for course materials.
Determine the cost of your UPEI program at the Tuition and Fees Selector page.
Additional Costs
The cost of living for a single person on PEI is approximately $3,100 monthly and the cost of living for a family of four is approximately $5,700 monthly (Hamilton, 2024, December). These living expenses include housing, utilities (e.g., heat, electricity), food, and transportation.
Inflation and economic trends have a big impact on everyday living costs. When planning your budget, it is important to note changes in grocery prices, fuel costs, and interest rates. These changes can really affect how much is needed to cover the basics.
Read more about the cost of living on PEI at High-Value Living - Innovation PEI.
After estimating costs, look at what sources of income are available to you
Below are the different ways graduate students fund their studies. These are not guaranteed sources of income. Students must actively pursue ways to generate an income.
Funding
Some academic programs provide grants, stipends, and bursaries; however, the amount varies by faculty and program. Students are encouraged to contact their program directly to clarify what financial support is available.
UPEI Scholarships and Awards
The Scholarships and Awards Directory lists available financial awards for graduate students. Each entry includes details about eligibility criteria, application deadlines, award amounts, and whether the scholarship is open to international and/or domestic students.
Canadian Graduate Research Scholarships (CGRS)
Each year, CGRS are offered at the masters and doctoral levels by the federal research funding agencies - the Canadian Institutes of Health Research (CIHR), the Natural Sciences and Engineering Research Council (NSERC), and the Social Sciences and Humanities Research Council (SSHRC).
These scholarships are open to students in research-oriented programs. Each year UPEI is allocated a set number of Masters-level scholarships to award. At the doctoral level, UPEI is allocated a set number of applications to nominate to the national award competitions . Also, there are various supplements and joint funding initiatives that may offer additional funding to Master’s and Doctoral applicants.
Follow the links to find program information, application deadlines, and eligibility requirements for the Master’s Program and the Doctoral Program.
External Sources of Scholarship Information
Another good place to look for scholarship opportunities is at Scholarships Canada.
Grants and Loans
Canadian citizens and permanent residents can apply for a Canada Student Grant and Loan if they demonstrate financial need. Read more about the eligibility criteria and program parameters through the link above.
Career Services and Work Integrated Learning Programs
The Office of Experiential Education provides a variety of services on career-related skills, finding work alongside studies, and information about the work-integrated learning programs open to students. Read more on their website.
Student Work Opportunities: Teacher Assistantship and Research Assistantship
Many departments offer graduate students opportunities to gain research and teaching skills through paid teaching and research assistantships. Talk to your supervisor and the faculty members in your program about what’s available, and check the UPEI Human Resources website for advertised on campus work opportunities for students.
