Cheapest MBA in Canada: Affordable MBA Colleges, Fee & Eligibility

Canada is one of the best places to earn an MBA, offering high-quality education, strong career opportunities, and affordable tuition fees compared to other top study destinations. According to QS Global MBA Rankings 2024, several low-cost MBA colleges in Canada are globally recognised for their academic excellence, making the country a preferred choice for international students.

• Affordable Education – Many affordable MBA universities in Canada offer top-notch education at lower costs compared to the US and UK, making it ideal for students looking for a low-cost MBA in Canada for Indian students and other international applicants.
• Strong Post-MBA Salaries – The average MBA graduate in Canada earns between CAD 85,000 – 120,000 per year, making it one of the most high-ROI study destinations for business professionals.
• Globally Recognised Universities – Canada is home to top MBA colleges in Canada with low fees, including Memorial University, University of Victoria, and Laval University, which provide high-quality yet affordable MBA programs in Canada.
• Post-Graduation Work Opportunities – Canada offers up to three years of post-study work permits, allowing international students to gain valuable experience in business, finance, and technology sectors.
• Easier PR Pathway – An MBA from Canada improves eligibility for Canada’s Permanent Residency (PR) pathways, making it an attractive choice for students looking to build long-term careers in the country.
• Diverse Learning Environment – Studying in Canada means being part of a multicultural and inclusive environment, helping students develop global business perspectives.

Many low-cost MBA colleges in Canada provide high-quality education at a lower price compared to the US or UK. The most affordable MBA in Canada can cost as low as CAD 10,000 – 25,000 (INR 6 – 15 lakhs) per year.

Canada’s affordable MBA programs are known for their strong industry connections, providing job placements in fields like finance, marketing, and technology. Graduates from the cheapest MBA programs in Canada can expect high ROI due to post-study work permits and job opportunities.

• Full-Time MBA – A full-time MBA is ideal for students who want to complete their degree quickly and gain in-depth business knowledge. It is usually completed in 12-24 months and allows students to immerse themselves in learning while taking advantage of networking opportunities.
• Part-Time MBA – A part-time MBA in Canada is designed for working professionals who want to continue their jobs while earning a degree. These programs are typically very affordable and take 2-4 years and offer flexible schedules, including evening or weekend classes.
• Online MBA – An online MBA in Canada can cost as low as CAD 10,000 – 20,000 (INR 6 – 12 lakhs), making it one of the cheapest MBA options for students worldwide.
• Executive MBA (EMBA) – An Executive MBA (EMBA) is for professionals with 5+ years of work experience who want to move into leadership roles. The University of Calgary’s Global Energy EMBA is one of the most affordable executive MBAs in Canada, designed for professionals in the energy sector.

Canada remains one of the most popular study destinations for international students, with over 807,750 study permit holders in 2023 (Source: IRCC). Despite the 2024 cap on study permits, thousands of students are still choosing Canada for its world-class education, high ROI, and affordable MBA universities in Canada. The country offers some of the most affordable MBA in Canada for international students, making it a great choice for those looking for a low-cost MBA in Canada with excellent career prospects.

Below is a list of the cheapest MBA programs in Canada:

1. Memorial University of Newfoundland

The Memorial University of Newfoundland offers one of the cheapest MBA in Canada for international students. It is the first business faculty in Atlantic Canada to be accredited by AACSB International - the Association to Advance Collegiate Schools of Business. The affordable MBA in Canada from MUN aims to provide students with fundamental business knowledge and leadership skills to meet their business-related goals. 

2. University of Victoria

The University of Victoria is one of the most affordable MBA colleges in Canada. The Sardul offers cheap MBA programs here. S. Gill Graduate School at the Peter B. Gustavson School of Business. It leads the students into new career avenues, such as socially-minded corporate leadership, community building, and entrepreneurship. The University of Victoria MBA graduates are highly sought-after by top recruiters.

3. Laval University

Laval University is amongst the cheapest universities in Canada for MBA. The Faculty of Business Administration (FSA) is a well-equipped modern business school in Canada. The school has been leading in offering an affordable MBA in Canada since 1924. The Laval MBA balances high academic quality and professional relevance by closely interacting with the business world.   

4. University of Calgary

The University of Calgary is one of Canada's most affordable MBA colleges. The low-cost MBA in Canada for international students is a highly regarded degree. The curriculum accommodates professionals seeking to earn a widely recognized credential in the private, not-for-profit, and public sector career paths. It offers several ways for students to customize their experience, including internships, specialization, etc.

5. Asper School of Business, University of Manitoba

The Asper School of Business under the University of Manitoba is among Canada's cheapest MBA colleges. It was established in 1968 and accredited by AACSB in 1999. The MBA from Asper School of Business maintains a tradition of quality instruction and mentorship in business fundamentals, decision-making methods, and leadership strategies. The MBA program here is designed to fulfill the market-driven demands of the modern industry.

6. University of New Brunswick

The University of New Brunswick MBA program aims to develop innovative and entrepreneurial leaders. After completing the course, students can access several networking opportunities, business consulting projects, etc.. You may opt for a full-time or part-time MBA at the University of Brunswick based on your interests and preferences. The knowledgeable faculty members help you grow as a business and management professional.

7. Wilfrid Laurier University

Wilfrid Laurier University is among Canada's cheap business schools for international students. The objective here is to empower the students with the tools and skills necessary to succeed on the path of their choice. Each program has been designed around delivering the best student experience possible. All these have made Laurier #1 in terms of student satisfaction for the last four years by Maclean’s Magazine.

8. Saint Mary’s University

The MBA program at Saint Mary’s University aims to bring forth responsible leadership while offering unique international and local business experiences. It helps in cultivating your innovative and entrepreneurial mindset through its various modules. These specially designed immersive MBA programs develop your ability to embrace uncertainty and successfully strive in the market. 

9. University of Northern British Columbia 

The University of Northern British Columbia’s MBA program is designed to give students the skills and knowledge to excel in today’s competitive business environment. It is an MBA program to be completed in 21 months. The curriculum covers essential areas such as leadership, strategic management, financial analysis, marketing, and operations management. The university ensures personalized attention and a collaborative learning environment. Students can network with peers, faculty, and industry professionals through various events and activities.

10. University of Prince Edward Island

The University of Prince Edward Island offers a comprehensive MBA program to equip students with the skills and knowledge needed to excel in the global business environment. The curriculum emphasizes integrative management, with core courses in strategic leadership, financial management, marketing, and global business. Elective courses allow students to tailor their education to their specific career goals. The capstone project is a special feature of the program, which provides practical experience by solving real-world business problems.

Online MBAs are becoming increasingly popular, allowing students to study from anywhere while balancing work and personal commitments. Canada has some of the best low-cost MBA colleges offering flexible and affordable online MBA in Canada for international students. These programs provide the same quality education, accreditation, and networking opportunities as traditional full-time MBAs.

According to the Canadian Bureau for International Education (CBIE) 2024 report, online education in Canada has grown by over 40% in the last five years, making it a preferred choice for working professionals and international students looking for a low-cost MBA in Canada.

If you're looking for an affordable MBA in Canada that fits your schedule, these online MBA programs offer great value at a lower cost than full-time, on-campus alternatives.

The average cost of an MBA in Canada ranges from ₹18-₹55 lakhs per year (CAD 30,000 - 90,000), depending on the university, program type, and location. While top-tier MBA programs in Canada can exceed ₹80 lakhs, several low-cost MBA colleges in Canada offer high-quality education at a much lower tuition fee.

According to the Government of Canada’s 2024 International Student Survey, tuition fees for MBA programs have remained stable, with an affordable MBA in Canada for international students available across various universities. Additionally, students must factor in living expenses, which can range from ₹12-₹20 lakhs per year, depending on the city and lifestyle. Cities like Toronto and Vancouver have higher living costs, while Winnipeg and Halifax offer more budget-friendly options.

The eligibility criteria for a low-cost MBA in Canada vary by university, but most follow a standard set of admission requirements. While top-tier business schools have strict entry conditions, many affordable MBA universities in Canada offer flexible admissions, making it easier for international students to apply.

According to a 2024 report by the Canadian Bureau for International Education (CBIE), over 30% of international MBA students in Canada choose universities that offer low tuition fees and flexible entry requirements. This makes low-cost MBA colleges in Canada a great option for those looking for a budget-friendly yet globally recognised degree.

• Bachelor’s Degree – A recognised undergraduate degree (3- or 4-year program) with a minimum GPA of 2.5 to 3.0 (55-65%). Some MBA colleges in Canada with low fees may accept lower GPAs with relevant work experience.
• Work Experience (Varies by University) – Many low-cost MBA colleges in Canada prefer applicants with 1-3 years of work experience, but some institutions like Memorial University of Newfoundland accept fresh graduates.
• GMAT/GRE Scores (Not Always Required) – Several cheapest MBA programs in Canada waive GMAT/GRE requirements if students have strong academic backgrounds or relevant professional experience. Schools like Laval University and University of New Brunswick offer MBA admissions without GMAT.
• English Language Proficiency – International students must submit proof of English proficiency. The minimum scores required for most affordable MBA in Canada for international students are: IELTS: 6.5 – 7.0, TOEFL iBT: 88+, PTE Academic: 60+
• Statement of Purpose (SOP) – A well-written SOP explaining career goals and why the student is applying for an affordable MBA in Canada. Universities prefer applicants who demonstrate leadership, innovation, and career progression.
• Letters of Recommendation (LORs) – Most universities ask for 1-2 LORs from professors or employers highlighting the applicant’s skills, achievements, and leadership potential.
• Interview (For Select Universities) – Some top MBA colleges in Canada with low fees like University of Victoria and Saint Mary’s University conduct interviews to assess applicants’ motivation and communication skills.
• Valid Passport & Student Visa – Applicants must have a valid passport and apply for a Canada Study Permit to pursue their MBA.

Many students wonder if pursuing an MBA from the cheapest MBA colleges in Canada is a good investment. The answer depends on your career goals, budget, and long-term plans. Low-cost MBA colleges in Canada offer high-quality education, strong industry connections, and post-graduation job opportunities without the burden of excessive tuition fees.

According to a 2024 report by the Graduate Management Admission Council (GMAC), Canada is among the top 3 preferred destinations for international MBA students, thanks to its affordable tuition costs, strong job market, and work permit policies. Many affordable MBA universities in Canada provide globally recognised degrees, ensuring students receive a high return on investment (ROI).

• Affordable Education Without Compromising Quality – The cheapest MBA programs in Canada are AACSB, AMBA, or EQUIS accredited, ensuring global recognition and quality education at a fraction of the cost of US or UK MBAs. Schools like Memorial University of Newfoundland and Laval University offer low-cost MBAs in Canada with strong faculty and industry-focused curricula.
• High Earning Potential After Graduation – Graduates from low-cost MBA colleges in Canada earn competitive salaries, with an average starting salary of CAD 80,000 – 100,000 (₹48-60 lakhs) per year, depending on the industry and job role. Companies like Deloitte, KPMG, RBC, and Amazon actively hire MBA graduates from affordable MBA universities in Canada.
• Post-Study Work Permit (PSWP) Benefits – International students who complete an MBA from the cheapest MBA colleges in Canada can apply for a 3-year post-study work permit, allowing them to gain work experience and apply for permanent residency (PR) in Canada. This makes a low-cost MBA in Canada for international students a smart investment for long-term career growth.
• Flexible Admission Requirements – Many MBA colleges in Canada with low fees have lenient entry criteria, waiving GMAT or work experience requirements for students with strong academic records. This makes it easier for fresh graduates and mid-career professionals to apply.
• Industry Exposure & Networking Opportunities – The cheapest MBA programs in Canada offer internships, co-op programs, and corporate partnerships, providing hands-on experience and networking with top recruiters in finance, consulting, and tech sectors.

Pursuing an MBA from a low-cost MBA college in Canada is 100% worth it if you want an affordable yet globally recognised degree with strong career prospects. By choosing the most affordable MBA in Canada, students can reduce financial stress while gaining a high-quality education, strong job opportunities, and a potential pathway to Canadian PR.

For students looking for a budget-friendly option with excellent ROI, the cheapest MBA colleges in Canada offer a great balance between cost, quality, and career growth.

Tuition fees are a dominant factor amongst your expenses when considering the cost of studying in Canada. Low-cost MBA programs in Canada at top universities allow you to learn and explore world-class facilities and amenities and open the way to high-paying jobs in Canada!

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