Master's, doctoral, and postdoc students, rejoice! The Canadian government has promised an increase in funding for graduate studies.
This week, the Canadian federal government unveiled its latest budget, bringing exciting news for students pursuing a master’s degree or higher: federal scholarship values are set to increase!
Budget 2024 Highlights for Graduate Students
Budget 2024 promises a substantial investment of $825 million over five years to support graduate students, ensuring they can continue their valuable research. According to Support Our Science, "this is the largest investment in graduate students and postdoctoral scholars in more than 20 years."
Increased Number and Value of Scholarships
The budget includes an increase in both the number of scholarships available and the value of each award:
Master’s Scholarships: $27,000 Previously valued at $17,500, these scholarships have now jumped over 50% to $27,000 — a significant boost for master's students.
[Learn more about the Canada Master’s Scholarships here!]
Doctoral Scholarships: $40,000 Doctoral scholarships, which currently stand at $35,000 per year for up to three years, will increase to $40,000 per year, a nearly 15% bump.
[Learn more about the Canada Doctoral Scholarships here!]
Postdoctoral Fellowships: $70,000 Postdoctoral fellowships, previously valued at $45,000 per year over two years, will see a 55% increase, bringing the funding to $70,000 per year.
[Learn more about the Postdoctoral Fellowship program here!]
Tri-Agency Funding Boost
The Tri-Agency, which oversees research supervisors, will also benefit from the budget. It is set to receive a $1.8 billion increase over the next five years, providing more funds to support research teams and their students.
Financial Support for International Students
While the recent budget announcement did not include additional support for international students, it's worth noting that EduCanada offers scholarships for students from abroad. These scholarships are primarily at the master’s level and above and are usually available to students from specific countries. If you have an undergraduate degree and are considering studying in Canada, be sure to check out the available opportunities for international students.
This substantial increase in funding demonstrates a strong commitment to supporting the academic and research endeavors of graduate and postdoctoral students across Canada.