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The information provided here is meant to help International students understand finance issues that are unique to Canada. Click here for information on tuition, fees, and scholarships and bursaries. The procedures for calculating refunds concerning U.S. Federal Family Loan Program participants may be found here (pdf).

Annual Expenses

According to Citizenship and Immigration Canada guidelines, you should budget approximately $10,000 Canadian per year, not including tuition fees, to cover living expenses. While Mount Allison and the Sackville community are not more expensive than other parts of Canada, we recommend $11,500 for living expenses. Tuition at Mount Allison costs approximately $14,110 per year. Thus the recommended total for Mount Allison is approximately $26,000, excluding airfare. If dependents will accompany you or join you later, an additional $4,000 is required for the first dependent and $3,000 for each subsequent dependent, in addition to return airfare.

Canadian Currency and Taxes

Canadian currency is the legal tender that will be accepted in stores, restaurants, and other businesses. Some establishments will accept American currency, particularly during tourist season. However, the exchange rate is usually significantly better in banks.

Sales Tax

Price tags on items do not usually include sales tax. On most items, a Harmonized Sales Tax (HST) of 13 per cent is added. Groceries are usually not taxed.

Banking in Sackville, New Brunswick

There are two banks in Sackville. If you bring money in the form of a cheque, payable to yourself, the bank will probably require you to wait until the cheque has cleared before releasing the money to you. It may be faster to have your bank transfer money by wire to one of the following banks in Sackville:

The Royal Bank of Canada

103 Main Street Sackville NB E4L 1B1
Tel: (international code: 01) (506) 536-1030
Fax: (international code: 01) (506) 536-1121

Money can be wired to the Royal Bank in Sackville by using the transit number: 01874 and the institution number: 003.

Bank of Nova Scotia

22 Bridge Street Sackville, NB E4L 3N5
Tel: (international code: 01) (506) 536-2480
Fax:(international code: 01) (506) 536-3302

Money can be wired to the Bank of Nova Scotia in Sackville using the transit number: 70334 and the institution number: 002.

Once you arrive in Sackville you can access your funds, upon identification, and set up your personal account. However, you should bring your credit card or cash or traveller's cheques sufficient for at least one week's expenses.