How to Fund Your Education at McGill University

By McGill University Modified on April 28, 2022
Tags : High School | Scholarships

Discover McGill's entrance scholarships and other opportunities to fund your education.

 How to fund your education at McGill University

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One of the biggest causes of stress for students is how you’ll fund your education. There are so many options: scholarships, bursaries, grants, loans, employment, and more. But what do these all mean? How can you receive funding? What funding options are available?

At McGill University, we want to support our students, whether that’s through offering entrance scholarships, financial-need based aid, employment options, or even providing budgeting assistance. We want to ease your financial stress so that you can fully enjoy your experience at McGill.

Funding opportunities

Discover the financial support the Scholarships & Student Aid Office offers tonewly admitted undergraduate students coming directly from high school and CEGEP:

Want to know what you can expect to pay for as an undergraduate student at McGill? Check out our cost guide to get an estimate of your costs. Scholarships, awards, and funding opportunities will help minimize these costs.

One-year entrance scholarships

Value: $3,000

Starting university is a chaotic time. You’re trying to plan where you’ll live, what courses you’ll take, what you should pack, and much more! We don’t want to add finding scholarships to your stress as well. That’s why these scholarships don’t require an application! You will automatically be considered for these awards based on your academic achievements.

Not sure if your grades make you eligible? Check out our minimum academic requirements table to find out:

Academic background Minimum academic performance
Quebec CEGEP Minimum 36 overall cote de rendement au collégial (CRC)
Canadian high school (outside Quebec and Ontario) Minimum 96% average on all academic grade 12 and grade 11 level courses and/or rank in top 1-2% of class
Ontario high school Minimum 96% overall average on all 3U, 3M, 4U, and 4M courses and/or rank in top 1-2% of class

Keep in mind that even if you meet these minimum academic requirements, you are not guaranteed a scholarship. These scholarships are highly competitive. Depending on available scholarship funds and the number of applicants, the minimums may be lower or higher. This table is for reference purposes only.

Major entrance scholarships

Value: $3,000, $5,000, $10,000, or $12,000

These major entrance scholarships are renewable! That means that you can receive this award in your first year and, if you meet the required criteria in your following years, you can also receive these awards in your second, third, and even fourth year!

To be eligible throughout your undergraduate degree, you need to achieve a minimum of 27 graded credits (14 if you are registered for only one term) during the academic year (Fall and Winter terms). In your first year, you will need to maintain a 3.5 GPA (75-79%) to earn the award for the following year. After your first year, you must maintain a 3.7 GPA (80-84%) to continue to renew your scholarship.

These scholarships require a separate application to be considered for the awards which must be submitted soon after you submit your application for admission.

Entrance bursary program

Value: Varies on circumstance

If you are from a low to modest-income family and demonstrate financial need, you can apply for financial assistance. We want to make university more accessible to those who face financial challenges.

Our entrance bursaries range in value and award amounts and are determined by your level of need and your tuition rate based on your program and residency. To be eligible, you must be enrolled full-time and demonstrate financial need. We recommend you apply on our Minerva portal within 30 days of your formal acceptance to McGill since this funding is limited.

Work Study Program

The Work Study Program is designed to help students with demonstrated financial need find jobs on or near campus with flexible work schedules to fit in around class timetables.

Not only will you be earning money for school, but you’ll also be gaining essential skills and experience that you can use to find employment after graduation! As a student who is working while studying, you’ll develop strong time management skills as you must navigate your time spent working, studying, going to classes, and other activities.

To be eligible for the Work Study Program, you must:

  • have applied for and are receiving the maximum government aid for which you are eligible
  • be registered full-time
  • be in satisfactory academic standing
  • demonstrate financial need

Benefits of McGill entrance scholarships

Aside of earning some money to help fund your education, there are some perks to having an entrance scholarship.

Residence priority

Choosing your residence building is a time of excitement and nerves. You’ll get to see where you may live for your first year of university, but you never know if you’ll get the residence you want. But, if you are an entrance scholarship awardee entering university in September, you’re guaranteed your first or second choice of residence building, as long as you apply by the residence application deadline. Should one of the smaller residence buildings fill up before all scholarship winners are placed in their first choice, scholarship awardees will be guaranteed their second choice of residence.

Priority registration

Class registration is stressful. You want to make sure you get into the classes you want and need, but hundreds of other students are also registering for classes at the same time. As an entrance scholarship recipient, you’ll be able to register for classes before everyone else. Classes fill up fast, so having a priority status eases your stress and gives you time to choose your courses without feeling rushed.

Learn how to budget

If you’re concerned about managing your money during school, we can help! We’ve worked directly with students to create The Frugal Scholar Program — a guide to help you budget effectively. We’ll provide tips on how to estimate your resources, stay on track with your budget, repay loans, and avoid common debt regrets.

Entering your first year of university is exciting! Don’t let finances cause you more stress than necessary. We have all the resources and advice you need to help pay for university.

Explore your scholarship and student aid options at McGill

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