The Joseph L. Rotman School of Management strives to admit only the best candidates to its full-time M.B.A. program and is working to remove the financial barriers that qualified applicants may face in making this serious investment in time and expense over the next two years.
Attending the Rotman School will require a substantial financial commitment from both you and the school. In conjunction with the deregulation of tuition* in Ontario and subsequent tuition increases for our programs, the Rotman Financial Aid program has been redesigned to offer greater assistance to those in need. We are committed to helping you find a way to finance your education by providing you with a broad range of options to consider. The Financial Aid Office will be pleased to discuss these options with you.
*In 1998, the Ontario government deregulated tuition for a number of professional programs, including Rotman's M.B.A. programs. Tuition deregulation ensures that universities can continue to recruit the best professors, maintain smaller class sizes, improve classroom technology, and enhance student services, including job placement. Moreover, 305 of deregulated tuition funds are being directed to improve financial assistance to domestic students.
Loans, Bursaries, Entrance Scholarships, Fellowships, and Part-time Employment Opportunities
The Financial Aid program is comprised of five different types of assistance, loans, bursaries, entrance scholarships, fellowships, and part-time employment opportunities. All are aimed at meeting the varied financial needs of Rotman students for the duration of the two year M.B.A. program.
Please note that at the current time, financial assistance is almost exclusively available to domestic students, i.e. Canadian citizens, landed immigrants, and permanent residents. Very little financial assistance is available to international or visa students and it is usually provided only under specific conditions.
Scotiabank Interest Free Tuition Loan
The Rotman School has developed a new interest free tuition loan program in partnership with Scotiabank. All domestic students can now access an interest free loan to cover the full cost of their tuition while enrolled in the two year Full-time M.B.A. program. In order to qualify for the loan, students must sign a declaration that they require the loan in order to register in and complete the Rotman M.B.A. program, and they must meet the credit requirements of Scotiabank. The interest free period runs over a 22 month period, from September in the year you enter the program to June 30 in the year you graduate.
Government funding is still one of the best sources of loans for domestic students. Each provincial government administers and maintains a Student Financial Aid program in cooperation with the federal government's Canada Student Loan program. Eligibility requirements, maximum borrowing amounts, and loan repayment policies vary from province to province. Usually the assistance is in the form of interest free loans while a student is in school, although some provinces award grants to students or offer additional assistance to students graduating with debt over a certain amount. It is your responsibility to research the funding opportunities available to you from your provincial government and to apply where eligible. When you apply to your provincial government for assistance, you are automatically applying to receive a loan through the federal Canada Student Loans program (CSL).
In Ontario, the Ontario Student Assistance Program (OSAP) is available to help supplement (not replace) the financial resources that the student is expected to contribute. Information about OSAP can be found online at the Web site.
Scotiabank Professional Student Plan
In addition to the Interest Free Tuition Loan program, the Rotman School has developed a competitive rate loan program with Scotiabank to assist students.