Fees and Financing

All-Inclusive Fee

The fee for Queen’s MBA covers tuition, books, case materials and all other instructional supplies.

An initial deposit of $2,000 CDN is required. The balance is paid in two installments during the program.

Fee Schedule (CDN Funds)

Subject to approval by Board of Trustees

Installment	Due Date	Domestic Students	International Students
First	Upon Acceptance	$2,000*	$2,000*
Second	May 3, 2010	$31,250	$33,750
Third	January 4, 2011	$29,250	$31,750
Total		$62,500**	$67,500**

*non-refundable
**Additionally, all students are required to pay Student Activity Fees of approximately $900.00. These fees are assessed to each student in May. Your $2000.00 deposit is used to cover this fee and an adjustment is made to the second tuition fee installment in January 2011. 

A person is classified as a Domestic Student if they have Canadian citizenship, landed immigrant status, permanent resident status or dual Canadian citizenship.

Personal Income Tax Treatment of Tuition Fees

Queen’s MBA students who pay all or part of the program fee personally are eligible to claim a tuition tax credit from the Canada Revenue Agency. Typically, tax savings are equivalent to 25% of the eligible tuition fee. For more information, ask a professional income tax advisor to give you an assessment of the full impact of fees on your personal income tax situation.

Realize a Faster Return on Your Investment

Unlike most full-time MBA programs, you can earn your Queen’s MBA in only 12 months. This key Queen’s advantage greatly reduces your opportunity cost in lost wages and total expenses.

Reduced costs and improved job prospects make Queen’s MBA an excellent investment in yourself. In fact, Forbes magazine recently ranked our program #1 in North America for fastest payback on graduates’ investment! Additionally, 95% of our most recent graduating class would recommend the program to others.

Ontario Student Assistance Program (OSAP)

Those accepted into the Queen's MBA Program can now apply for OSAP. As stated on the OSAP website (https://osap.gov.on.ca/eng/not_secure/about.htm), OSAP is a needs-based program and provides eligible Ontario students with financial assistance to help pay for their tuition, books, mandatory fees, living costs and transportation. Please go to the following link to determine your eligibility and to apply for an OSAP loan - https://osap.gov.on.ca/eng/not_secure/apply_eligibility_12.htm.

RBC Royal Credit Line for Students

Canadian citizens and permanent residents of Canada may qualify for a loan with RBC Royal Bank to cover all tuition fees + all applicable living expenses. Queen’s School of Business will pay the interest on your loan while you are in the program.

Note: Acceptance to the Queen’s MBA program does not guarantee or imply qualification for financing from RBC Royal Bank.

Secure Pre-approval Now

It is a good idea to submit your loan application the same time as your Queen’s MBA application. While loan approval does not guarantee acceptance into Queen’s MBA, submitting your loan application early will save you time, and ultimately peace of mind.

Printable loan application forms may be downloaded here.

If you have any questions regarding the loan application or the financing program in general, please contact Rob Hamilton at 613.545.5763 or by e-mail: robert.j.hamilton@rbc.com

RRSP Withdrawals

You and/or your spouse may be eligible to borrow tax-free from your RRSP, up to CDN$10,000 each per tax year, to help fund your MBA. Please contact your income tax advisor for details.

Academic Scholarships

A limited number of entrance scholarships will be awarded to select applicants whom the MBA Scholarship Committee deem to have the strongest overall combination of GMAT scores, undergraduate academic standing, and work experience. These scholarships vary in amount. In the 2009/2010 admission season, the maximum value awarded was CDN $30,000.

Please note that separate applications are not required. All qualified candidates who complete their admissions file will be considered for an entrance scholarship.

International Students

You are strongly advised to obtain student loans that have been secured through your home country. You should contact the appropriate student loan processing agency in your country for further information.

We recommend you also investigate third-party agencies such as the International Student Loan Program, Sallie Mae/MBA Loans, Global Student Loans, and Stafford and/or PLUS Loans.

The True Cost of an MBA Program

When evaluating the true cost of an MBA program it is important to consider all costs, including tuition, student fees, learning materials, living expenses and lost wages while in the program.