Financing Your Graduate Education

Stephen McCarthy

Stephen McCarthy, PhD candidate (Laboratory Medicine and Pathobiology), won th​e University of Toronto Three Mi​nute Thesis (3MT®)​ competition and took home the $1,000 prize purse.

Securing adequate funding for your studies is an essential component of successfully completing your graduate degree. There are numerous programs in place to ensure you thrive during your time at the University of Toronto.

How it Works For Your Program​

We understand that graduate student support is crucial to help our research-stream master's and PhD students offset the cost of their education, earn income during their graduate studies, and serve as an important tool to recruit the best graduate students globally.​

Students in professional graduate programs typically self-fund their educational expenses through a variety of programs including student loans, student line of credit, and employment income. Students may also be eligible for a limited number of graduate awards available through their graduate units and various external agencies.

Financial Support for Research-Stream Graduate Programs

The University of Toronto is fully committed to providing financial support for students in doctoral-stream programs (MA, MSc, MASc, and PhD).

If you are a research master's or PhD student, the amount of your funding package​, the number of years you will receive it, and how the funding is composed will depend on your specific program.

In most cases, you'll receive a detailed breakdown of your funding pac​kage at the beginning of each academic year. Each Faculty has its own funding arrangements, which are administered by the respective graduate units.

For eligible graduate students, funding packages range from a total support package of $23,448, or an amount equal to the cost of academic tuition and fees plus $15,000, to an average income of $35,109 (2012-13), depending on your program. Your funding package may comprise a combination of the following: U of T fellowships, scholarships or awards, and teaching and research assistantships.​

For detailed funding information, please contact the graduate unit for your program.

See also the Overview of Graduate Funding for Research-Stream Programs​.

Financial Resources for Professional Graduate Programs

Students in professional master's and doctoral degree programs fund their studies through various means. Many students apply for government student loans such as OSAP or other provincial loans. Students who are eligible for government loans may also qualify for UTAPs—a grant provided through the University of Toronto. Students registered in selected professional graduate programs may be eligible for further assistance through the Scotia Professional Plan for Students. A number of graduate units have selected awards available to students in professional programs. To see if you qualify, please consult your graduate unit.

For additional funding options for professional graduate programs, please see below or visit the Financial Aid web page.

Graduate Awards Office

The Graduate Awards Office (GAO) at the School of Graduate Studies provides administrative support for a wide range of scholarship and financial aid programs. Whether you've just received an award or you're looking for financial support to attend a conference, the GAO can provide advice and assistance.

Awards & Scholarships

Apply for Awards

While some applications are submitted directly to the GAO, most competitions require that graduate ​units set local deadlines, receive applications, and conduct an internal selection process prior to sending their top applications forward to be centrally adjudicated at the School of Graduate Studies. See what's available by viewing award competitions.

Manage Your Award

Need to accept, activate, move, renew, interrupt or cancel your award? Award Officers at the GAO provide advice to help you navigate the cycle of your scholarship. Find easy instructions and forms to manage your award.

Set Up Direct Deposit

Adding banking information to your SWS account is the quickest and easiest way to receive funding from the University. To set up direct deposit, watch this short demo video.

Financial Aid Programs & Counselling Services

Even the best financial plans can be disrupted by emergencies. The GAO administers a variety of Financial Aid Programs designed to assist you in an unanticipated serious financial emergency. They are not considered to be a source of routine or long-term funding. Some of the programs include:

Financial counselling assists you in many aspects of managing your educational expenses, budget and planning. Our financial counsellor provides details on various financial aid programs such as student loans, University of Toronto grants, and other opportunities.


Graduate Awards
School of Graduate Studies
Room 202, 63 St. George Street
University of Toronto
Toronto, ON M5S 2Z9

Telephone: 416-946-0808
Fax: 416-971-2864