Your university education is an investment in your future. And as with all investments, you should make sure you know what you’re getting into before you commit. Tuition fees, cost of living, financial aid, and scholarship possibilities are all part of the equation.
In 1998, the Ontario government deregulated tuition for a number of professional programs in Ontario, including the U of T undergraduate business programs such as Rotman Commerce. Tuition deregulation helps ensure that universities continue to provide the best possible commerce education.
At U of T, that means recruiting the best professors, fostering an excellent student experience through smaller class sizes, and offering improved classroom technology and enhanced student services.
Fees for Rotman Commerce students depend on a number of factors, including your year of study, the number of credits or courses you are enrolled in, the college you are registered in, and whether or not you are an international student.
The total program tuition fees* for domestic Rotman Commerce students entering in September 2019 and taking a regular course load (i.e., 5 full credits per academic year) is between $55,000 and $65,000.
The total program tuition fees* for international Rotman Commerce students entering in September 2019 and taking a regular course load (i.e., 5 full credits per academic year) is between $240,000
Students pursuing the Bachelor of Commerce (BCom) enter the University of Toronto as students in the Faculty of Arts & Science and pay the same tuition as other Arts and Science students during their first year.
Note: First year students who take summer school may be subject to retroactive program fees.
Second Year Onwards
Starting in second year, Rotman Commerce students pay a set full-time program fee. The fee paid depends on when a student is first admitted to the Faculty of Arts and Science. Note that retroactive fees may be applicable to second-year Rotman Commerce students. Students affected will be notified and referred to their academic advisor and/or college registrar’s office.
The fee breakdown per year for students entering as a first-year student in 2017 are as follows:
Year 1 $7,791.92
Year 2-4 $17,489.92
Year 1 $55,727.18
Year 2-4 $62,803.18
*Please note that tuition fees are subject to change. For the most recent fee schedule, students should refer to the Tuition Fee Schedules published by the Office of the Vice President and Provost at the University of Toronto. Tuition Fee Schedules (Domestic fees | International fees) are determined by the Office of the Vice-President and Provost at the University of Toronto. Fees are managed by the Fees Office, which is also referred to as U of T Student Accounts. They are responsible for tuition and ancillary fees, processing payments, issuing refunds, and applying service charges.
The most up-to-date tuition, incidental, and ancillary fees for each academic session are available on the U of T Student Accounts website.
Cost of Living
Aside from tuition, a key financial consideration when applying to university is the cost of living – that is, all the expenses that you may incur in addition to tuition and academic fees. These costs vary depending on whether or not you will be living at home, in residence, or off-campus, as well as on how much spending money you think you will need. Check out these useful guidelines for calculating how much you should budget for cost-of-living expenses. For those considering living in residence, please refer to the residence and optional meal plan fees listed here.
In general, remember that budgeting anywhere from $8,000 to $18,000 a year for living expenses is normal, depending on whether you live in residence or off-campus.
Don’t forget to consider the various forms of financial assistance (see below) that might be available to you – university can be expensive, but there are ways for you to offset the cost of your education.
Eligible high school students are automatically considered for a variety of merit-based scholarships when they apply to the University. There are also admission scholarships that require a separate application, and others that require you to complete an awards profile. Additionally, each College offers scholarships and awards which may be specific to Rotman Commerce and/or membership at the College itself.
There are many different forms of need-based financial aid that may be available to you. Many Ontario students benefit from the Ontario Student Assistance Program (OSAP), while all domestic students are eligible to apply to the University of Toronto Advance Planning for Students program (UTAPS). Students from out of province should also check to see if they are eligible for other provincial or federal funding.
International students should investigate funding opportunities that may be available from their home countries’ governments or other funding bodies, and are encouraged to review the Awards Information for International Students on the Enrolment Services website.
Both domestic and international students may also be eligible to participate in UofT’s Work-Study program, which entitles you to apply for part-time on-campus jobs that work around your class schedule.
Check out UofT’s Financial Aid resource page for more information on the funding programs available.
Scholarships and Awards
The University, its colleges, and faculties award approximately 1900 admission scholarships and over 4000 in-course scholarships every year.
To be considered for many admission scholarships and awards, applicants must complete the Awards Profile after completing their application by logging into JOIN UofT and following the Awards Profile link.
Eligible high school students are automatically considered for a variety of admission scholarships when they apply to the University. Note however that there are also admissions awards that require a separate application, and others that require you to complete an awards profile. Additionally, each College offers scholarships and awards which may be specific to Rotman Commerce and/or membership at the College itself.
Rotman Commerce Admission Scholarships
We invite prospective students to explore the list of Admission Scholarships posted on the Enrolment Services website.
Rotman Commerce awards include:
- Three Scrymgeour Scholarships in Entrepreneurial Management for
- Building Canadian Leaders Donald S. McKeracher Scholarship in Rotman Commerce
- Building Canadian Leaders: Kong Ming Lee and Yip On Lee Memorial Scholarship
- Building Canadian Leaders: Frank William Moore Scholarship in Rotman Commerce
- Peter P. Copses and Judith V. Mueller 1980 Commerce Scholarship
- RJS I-Think Scholarship
- James Davie Bursary in Commerce and Finance
- Value: Approximately $1,500 (endowed award that may vary based on annual income). Awarded to a full-time or part-time student entering year I Commerce with an ’A ’average. Financial need will be considered.
- Fung Yiu King Memorial Scholarship
- Value: $13,000 during the first year and $20,000 per annum in the higher years. Awarded to a full-time or part-time student from Hong Kong entering year I Commerce based on financial need. Academic excellence and community leadership will also be considered. Learn more…
- Toronto Hong Kong Lions Club Admission Scholarship in Commerce
- Value: Approximately $1,000 (endowed award that may vary based on annual income). Awarded to an outstanding student entering year I.
- William Waters Commerce and Finance Award
- Value: 20 scholarships, of $2,000 each Awarded to undergraduate students entering year I Commerce. Preference will be given to students admitted to Woodsworth College. Scholarships are awarded based on merit and financial need. Note: If you wish to be considered for this award, you must complete the online UTAPS Assessment form. This scholarship is awarded after the first week in September.
Based on your academic record, you may also qualify for a number of U of T scholarships. Some of these are need-based, while others are awarded solely upon academic merit.
Students should also investigate scholarship or award opportunities in their own communities – some workplaces have scholarships for the children of employees, while many companies and community organizations have application-based awards that might be open to them.
In-Program & In-Course Scholarships
Rotman Commerce students may be eligible for a number of scholarships and awards during their studies at the University of Toronto.
In-course scholarships are awarded to students who have excelled in their academic programs. These scholarships may be awarded by the University or by the student’s faculty or college and are based on general proficiency or outstanding achievements in certain areas.
Certain in-program scholarships and awards require students to submit applications directly to Rotman Commerce, including the CFA Institute Scholarship for Students writing CFA Exams, the HSBC International Business Award, the HSBC LGBT Student Award, plus several RSM-specific awards, all of which are exclusively for Rotman Commerce students. Additionally, the Faculty of Arts & Science offers a variety of department-based scholarships and awards including a number for current Rotman Commerce students. Students will be advised of these scholarship opportunities on the Rotman Commerce Portal throughout the year.
Additionally, each University of Toronto College offers scholarships and awards which may be specific to Rotman Commerce and/or membership at the College itself. College scholarship & awards may be found at the following links: Innis; New; St Michael’s; Trinity; University; Victoria; and Woodsworth.
Student Leadership Awards
Several Student Leadership Awards are available to Rotman Commerce students, including the Dean’s Student Initiatives Fund, the Rotman Commerce Director’s Awards, and the Gordon Cressy Student Leadership Awards.
The Rotman Commerce Director’s Awards (awarded to students from each year’s graduating class) include:
- the Academic Excellence Award, which recognizes students graduating in the top 1% of their class.
- the Innovation Award, which recognizes students who express creativity through the introduction of new ideas and practices that better the Rotman Commerce community.
- the Leadership Award, whichrecognizes students who display leadership through extracurricular activities within Rotman Commerce.
- the Spirit Award, which recognizes students who exemplify overall spirit in their approach to learning and involvement within the community.
Rotman Commerce students may also apply for a variety of awards from external sources such as agencies, companies, councils, programs, and societies. Examples of these include the BMO Capital Markets Lime Connect Equity Through Education Scholarship; the CFA Society Toronto’s Undergraduate Finance & Economics Scholarship Awards; Export Development Canada (EDC) International Business Scholarships; and the TD Bank Group Lime Connect Canada Scholarship Program Equity Through Education Scholarship.