Ivey MIM Fees & Expenses

Choosing to undertake a Master's in Management (MIM) program at Ivey Business School holds immense promise for students from India. However, comprehending the financial aspects - such as the Ivey MIM Fees structure, cost of living, scholarship opportunities, potential return on investment (ROI), and scope for part-time work- is crucial in making this choice well-informed. Through this blog, we aim to shed light on these crucial aspects, thereby assisting Indian students in charting their financial path efficaciously.

Ivey MIM Tuition Fees

The financial obligation attached to enrollment in the Ivey MIM program is an essential factor worth considering. This encompasses not only the tuition IVEY MIM fees but also the cost of living. The cost of the comprehensive 16-month Ivey MSc program, expressed in Canadian dollars, may differ based on the timing of intake and the student's nationality. It's crucial to remember that the tuition sums provided represent the costs incurred throughout the 16 months of the program.

Here are the tables of the Tuition Fees:

September 2024 Intake (Business Analytics and Digital Management)

January 2024 Intake (International Business)

January 2024 Intake (International Business - CEMS)

What your tuition fee includes

Studying at Ivey goes beyond considering only the IVEY MIM fees. One must also account for the living costs that come with being an Ivey student. Food, accommodation, transportation, and other incidental costs form a substantial part of your expenditures.

The monthly food expense can be roughly $400 CAD. Commuting charges could be around $100 CAD per month, while the rent for a single-bedroom apartment near the university can set you back about $1400 CAD monthly. It is also wise to keep aside some funds for personal expenses such as entertainment, clothing, phone bills, and laundry—approximately $600 CAD per month—.

Consequently, prospective Indian students should be versed in this detailed financial breakdown to fully comprehend the fiscal responsibilities that pursuing an Ivey MIM program entails. Adequate financial planning and budgeting are key to seamlessly navigating your academic journey at Ivey.

Navigating Living Expenses in London

Choosing an institution for further studies, like Ivey Business School, extends beyond mere tuition fees. It necessitates a comprehensive understanding of incidental expenses associated with life in the city and additional academic costs. Indian students aspiring to the MIM program should factor in living expenses in their budget to ensure a smooth academic journey.

Delving deeper into the details of the miscellaneous expenditures will provide a realistic view of the total outlay, creating an informed decision-making space for prospective students. Smart budgeting paves the way for a seamless and rewarding experience at Ivey Business School.

1. Food

For an average student, budgeting roughly $400 CAD each month for food essentials and meals is generally sufficient. However, it's important to note that this value may fluctuate according to personal dietary needs and food preferences. The goal of outlining this budget is to enable a balanced and healthy lifestyle for the duration of your studies abroad.

2. Travel

Transportation costs are another aspect to consider. While the exact amount will depend on your travel requirements and proximity to the campus, setting aside approximately $100 CAD per month for transportation expenses, such as public transportation fares or fuel for your vehicle, can help you plan your budget effectively.

3. Accommodation

Finding suitable accommodation is essential for your time at Ivey. Rent for a one-bedroom apartment near the university typically ranges around $1,400 CAD per month. However, many MIM students choose to share apartments, which can significantly reduce housing costs. Collaborating with fellow students to find larger houses or buildings can result in lower rental rates and shared expenses.

4. Utility

It's important to consider other miscellaneous expenses that may arise during your studies. This category includes entertainment, clothing, cell phone bills, laundry, and various miscellaneous items. Allocating approximately $600 CAD per month for these expenses should provide a reasonable estimate.

By understanding and planning for these living expenses, Indian students can effectively manage their finances while studying at Ivey Business School. It's crucial to create a comprehensive budget that takes into account all these factors to ensure a comfortable and financially sustainable experience throughout the MIM program. 

Here is a table of the expenses in London:

Overall, understanding the various Ivey MIM fees is crucial for Indian students. By carefully considering tuition fees, accommodation costs, food expenses, transportation needs, and miscellaneous expenditures, students can effectively manage their finances and create a realistic budget. It's essential to plan ahead and make informed financial decisions to ensure a comfortable and fulfilling experience during your time at Ivey.

Remember, these figures are estimates, and individual circumstances may vary. By being proactive and responsible in managing your expenses, you can focus on your academic journey and make the most of your time at Ivey Business School.

Scholarships & Financial Aid at Ivey

At Ivey Business School, aspiring students for the MIM program have the opportunity to avail themselves of various scholarships. These scholarships, offered to both domestic and international candidates, provide financial assistance and recognition for academic excellence and outstanding achievements. With a range of scholarship options available, eligible applicants can significantly alleviate the financial burden of pursuing their MIM degree at Ivey.

1. SOGS Bursaries and Financial Need
2. MSc Indigenous Entrance Scholarships
3. Richard Ivey MSc Excellence Scholarships
4. The Canadian Out of Province (OOP) Scholarship
5. Rise Awards in Resilient Leadership for Indigenous Students (MSc)
6. Ivey Financial Need Scholarships
7. Rise Awards in Resilient Leadership for Black Students (MSc)

Applying for scholarships at Ivey Business School can be a significant step towards making your IVEY MIM fees more affordable. These scholarships not only provide financial support but also recognize and reward exceptional achievements. If you are considering the Ivey MIM program, make sure to explore the scholarship opportunities that are available to you.

Remember to review the specific eligibility criteria and application requirements for each scholarship to maximize your chances of receiving financial assistance. Investing time and effort into scholarship applications can make a positive impact on your academic journey and future career prospects.

Financial aid & loan options

Apart from scholarships, the school also provides information and assistance regarding loan options to manage Ivey MIM Fees. Students can explore various International and domestic programs that offer competitive interest rates. There are many additional sources that international candidates should explore for external financing options. Helpful resources include:

• Government of Canada – International Student Scholarships
• Indian Association for Canadian Studies
• Scholarships 4 Students From Developing Countries
• List of Canadian Embassies

1. Prodigy Finance

Prodigy Finance is an additional option to assist our international students in financing their MSc. If you have explored all financing options and still have a financial gap to finance your MSc, you can explore this option on Prodigy Finance's website.

NOTE:  Please plan for Prodigy Finance loans to ONLY cover tuition and fees. 

2. MPOWER Financing

MPOWER Financing also offers an opportunity for a scholarship for International students. Funding is available for both tuition and living expenses. 

NOTE:  Please plan for Prodigy Finance loans to ONLY cover tuition and fees. 

3. HDFC Credila – For students from India studying in Canada

HDFC Credila offers a completely customized product for borrowers who choose to pursue their university or college education in Canada.

• Funding for: cost of attendance + cost of living + any other education-related expenses
• Flexible repayment options with 180 months (15 years) loan tenure.

4. GradRight Financing – for students from India studying in Canada

GradRight is a platform where lenders bid for student loans. Loans are offered to Indian nationals on GradRight by banks, NBFCs and international lenders. The basic service is free, while optional loan selection advisory service fees are capped at CAD 270 by GradRight. Ivey Business School does not charge any fee from students or GradRight for this service. 

5. WeMakeScholars - For students from India studying in Canada

WeMakeScholars is a single platform that checks your eligibility for loans and submits them to multiple lenders.  In addition, this is a platform to assist with sourcing scholarships. 

Opportunities for Part-Time Work

As an international student, it's essential to be aware of the work restrictions associated with the student visa. Indian students studying in Canada are allowed to work part-time for a maximum of 20 hours per week during academic sessions and full-time during scheduled breaks. 

1. Campus Jobs: The Ivey MIM program provides various on-campus employment opportunities, including research assistants, teaching aides, library assistants, and student ambassadors. These roles offer students the chance to work within the university community and gain valuable experience while contributing to their academic environment.
2. Hospitality Industry: Indian students can explore part-time employment in the hospitality industry, such as working as waiters, bartenders, or chefs in restaurants and bars. They can also find opportunities in cafes or hotels to serve customers and assist with various tasks. The hospitality sector offers flexible hours and the chance to develop customer service skills.
3. Retail Sector: Part-time job opportunities are available in supermarkets, department stores, and exclusive boutiques. Indian students can work as sales associates, assisting customers, managing inventory, and contributing to the retail experience. This sector provides a gateway for temporary employment with flexible hours and potential career growth.
4. Tutoring: Indian students can leverage their knowledge and skills by offering tutoring services to their peers. This not only provides an opportunity to deepen their understanding of a subject but also helps them earn income. Depending on their expertise, they can tutor in academic subjects or offer language lessons or music lessons.
5. Freelancing: Online platforms like Fiverr and Upwork enable Indian students to monetize their skills by offering freelance services. They can engage in content writing, graphic designing, web development, or other projects that match their abilities. Freelancing provides flexibility in terms of working hours and allows students to work on projects of their interest.

Student Visa Work Hour Restrictions

Indian students pursuing the Ivey MIM program should be mindful of the work-hour restrictions imposed by the student visa regulations. Adhering to the maximum 20-hour workweek during academic sessions is essential to maintain visa compliance. It's advisable to balance work commitments with academic responsibilities to ensure a successful academic journey. 

• Respecting the maximum limit of 20 hours per week during academic sessions is crucial to maintaining visa compliance and avoiding legal issues.
• Indian students should prioritize their studies and allocate sufficient time for coursework, assignments, and preparation for exams while managing their part-time work schedule.
• Planning and organizing their schedules, setting priorities, and utilizing available resources can help them optimize their productivity and ensure they make the most of their time both in the classroom and at their part-time job.

Conclusion

In conclusion, considering the financial aspects of pursuing the Ivey MIM program is vital for Indian students. By understanding the Ivey MIM fees, estimating living expenses, exploring available scholarships, and being aware of work-hour restrictions, students can make well-informed decisions and effectively plan their financial journey.