rotman school of management scholarships

Last Updated on December 14, 2022

Rotman School Of Management, Toronto Courses, Fees, Ranking, & Admission  Criteria

At the Rotman School, we strive to recruit the best candidates to the Morning and Evening MBA programs, and are committed to helping you afford your education. We invest in our students by providing over $1-million in award funding and financing through a broad range of options. And thanks to the Rotman Interest Subsidy Program, the School helps you pay the interest on a student loan from any officially-recognized financial institution – in Canada or your home country.

That takes the burden of worrying about finances off your shoulders, so you can focus on your learning and career opportunities.

Entrance awards and fellowships

The Rotman School is invested in attracting strong candidates. You will be automatically considered for entrance awards with your Morning or Evening MBA application.  Awards are given to eligible candidates on a first-come, first-served basis.

Entrance awards

Entrance awards*

Award nameValueNumber of AwardsDescription
Rotman Commerce Awards$10,0006Demonstrated academic excellence in the Rotman Commerce undergraduate program.
Forte Fellowship Awards$25,0001The Forté Foundation is a consortium of major corporations and top business schools working together to launch women into fulfilling, significant careers through access to business education, opportunities, and a community of successful women.
Forte Fellowship Awards$20,0002The Forté Foundation is a consortium of major corporations and top business schools working together to launch women into fulfilling, significant careers through access to business education, opportunities, and a community of successful women.
Forte Fellowship Awards$10,0002The Forté Foundation is a consortium of major corporations and top business schools working together to launch women into fulfilling, significant careers through access to business education, opportunities, and a community of successful women.
Creative Destruction Lab Fellowships$20,0006Guaranteed entrance into the Creative Destruction Lab program and entrance award.
Women in Business$10,0005Based on exceptional academic merit for outstanding female candidates in industry/entrepreneurs.
Rotman Health Care Award$10,0004Based on exceptional academic merit for students in Health Care & Life Sciences.
Morning Awards$10,0004Based on exceptional academic merit for Morning MBA students.
Evening Awards$10,0004Based on exceptional academic merit for Evening MBA students.
Leadership & Strategy Award$20,0001Based on exceptional academic merit and demonstrated leadership in their chosen field.
Pride Award$10,0002Based on exceptional academic merit and leadership within the LGBTQ community.
Rotman Humanitarian Award$5,0001Recipient will have demonstrated a contribution to outstanding humanitarian volunteerism.
Rotman Engineering Award$10,0004Based on exceptional academic merit for students in Engineering.
Consulting Award$15,0001Based on exceptional academic merit for students in Consulting.

Other awards and scholarships

In-program awards

Rotman’s large alumni base and the strength of our community partners enable the school to offer over $250,000 in scholarships, fellowships and awards each year to Morning MBA or Evening MBA students who have completed the first year of their program.

Administered through the Program Services Office, the call of applications (where required) takes place at the end of the Spring Term each year. Most are available to both domestic and international students on the basis of academic merit, while some also consider financial need.

Rotman Scholar Awards

The Rotman School offers an academic mentorship program for first-year core courses. Upper-year MBA students with an excellent academic record in a particular course and demonstrated communication skills will be selected to provide academic guidance and support to first-year students. Consult the Office of the Registrar and Academic Services website for information and application deadlines.

Ontario Graduate Scholarships

Jointly supported by the Ontario Government, the University of Toronto and donors to the Rotman School, these scholarships are intended to encourage and support academic excellence at the master’s and doctoral levels and are awarded to domestic students enrolled in full-time studies who have obtained a first class standing. The Rotman School’s Full-Time, Morning MBA, Evening MBA and Master of Finance programs are considered full-time, eligible programs. An Ontario Graduate Scholarship (OGS) at the Rotman School of Management is held for one year and valued at $10,000 to $15,000 per year, thanks to the generous support of our donors.

For Canadian citizens or permanent residents, consult the Office of the Registrar and Academic Services website for information on eligibility, conditions and application forms.

Loan programs

Professional Student Loan Plans with BMO and RBC

All domestic students (Canadian citizens, permanent residents) can access a loan with competitive interest rates and loan limits to cover the full cost of their tuition, from the Bank of Montreal (BMO) or the Royal Bank of Canada (RBC). See Interest Subsidy Programs below for further details.

Government Loans

Each provincial government in Canada administers and maintains a student financial aid program in cooperation with the federal government’s Canada Student Loan (CSL) program. The assistance is in the form of interest-free loans while a student is in school, although some provinces award grants to students or offer additional assistance to students graduating with debt over a certain amount. When you apply to your provincial government for assistance, you are also automatically considered for a loan through the CSL. Eligibility requirements, maximum borrowing amounts and loan repayment policies vary from province to province.

In Ontario, the Ontario Student Assistance Program (OSAP) is available to help supplement (not replace) the financial resources that the student is expected to contribute. For more information, consult the OSAP website.

Lifelong Learning Plan (LLP)

The LLP allows individuals to withdraw amounts from their registered retirement savings plans (RRSPs) to finance their own education or that of their spouse/partner. Amounts withdrawn under the LLP do not count towards income and the RRSP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years.

Interest subsidy programs

Rotman Interest Subsidy Program (RISP)

Students who obtain a student or educational loan from an officially-recognized financial institution (in Canada or in their home country) to support the tuition costs of their MBA are eligible to apply for the Rotman Interest Subsidy Program (RISP). The Rotman School will provide a subsidy to assist students with the interest incurred on such a loan for the duration the student is enrolled in the MBA program up to June 30 of their graduating year.

Employer Fee Subsidy

Several Toronto area financial institutions and employers have indicated a willingness to sponsor a number of their employees for all or part of the MBA program fees. Applicants are strongly encouraged to approach their employers for financial support. The Rotman MBA program staff or faculty will provide any information or assistance an applicant might deem helpful in this regard.

Registered Education Savings Plan (RESP)

An RESP is an education savings account that is registered with the Government of Canada for parents who want to save for their child’s post-secondary education. Once the child (the RESP beneficiary) has graduated from high school and enrolled full-time or part-time in a qualifying post-secondary educational program, the Plan holder can request, on his or her behalf, to withdraw money from the RESP to help pay for their studies.

Educational Assistance Payments include the interest earned in the RESP as well as any Canada Education Savings Grants, provincial grants and Canada Learning Bonds received. The money can be used to pay for post-secondary school expenses like tuition, books and transportation. For more information, consult the Canada Revenue Agency website.

Professional Student Loan Plan with BMO and RBC

The Rotman School has partnered with the Bank of Montreal (BMO) and the Royal Bank of Canada (RBC) to provide MBA students with the interest-subsidized Professional Student Loan Plan (PSLP), specifically tailored to help students meet the educational costs of the MBA degree. The Rotman School pays the interest incurred on the BMO or RBC loan for the duration the student is enrolled in the MBA program.

Financial Aid for International Students

International students are eligible for many of the School’s scholarships, fellowships, teaching, and research assistantships. A number of external organizations also offer scholarships, fellowships, and loans to citizens of various countries to study in Canada. Students are individually responsible for applying to any programs managed outside of the Rotman School.

In addition, many countries provide loans or scholarships specific to their citizens. View a list of funding options for international students. The Rotman School does not guarantee, co-sign, nor endorse any of these specific programs for funding.

Prodigy Finance Loans

All international students admitted to the Full-Time MBA program are eligible to apply for a non-co-signer loan from Prodigy Finance. Although Rotman has no formal agreement in place, this firm has indicated a willingness to entertain loans up to the entire tuition fee for international students attending Rotman.  Please note that these loans are governed by Prodigy Finance, and all decisions regarding approval and eligibility are made by Prodigy Finance.  The Rotman School does not guarantee, co-sign, nor endorse any of these specific programs for funding.

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Government of Canada International Scholarship Programs

The Government of Canada has a number of scholarships available to international students for study/research in Canada. These are organized by country of origin. Examples are:

  • Canadian Commonwealth Scholarship
  • Equal Opportunities Scholarship Program, Canada-Chile
  • Government of Canada Awards Program
  • Organizations of American States Fellowships Programs

Study In Canada Scholarships

The Study in Canada Scholarships program welcomes international students from around the world to apply for a full academic scholarship for up to two years. Scholarships are tenable for a minimum of one academic year and up to a maximum of two academic years (up to 20 months total, including one intervening spring/summer term of up to 4 months). For more information, please visit EduCanada’s International Scholarships website.

Rotary Foundation Ambassadorial Scholarships

These scholarships aim to further international understanding and friendly relations among people of different countries. During their time abroad, Rotary scholars are expected to be ambassadors of goodwill through presentations to Rotary clubs and districts, schools, and civic organizations. Upon their return home, they are expected to discuss and share their experiences with Rotarians and others. Applicants must be nationals of a country where Rotary Clubs are located, and must have completed at least two years of university level coursework before the scholarship begins. More information can be obtained from local Rotary clubs or the Rotary Foundation.

International Peace Scholarship Fund for Women (IPS)

IPS is a program providing grants-in-aid for selected women from other countries for graduate study in the United States and Canada. An applicant must be qualified for admission to full-time graduate study and working toward a graduate degree in the college or university of her choice in the US or Canada. A student holding citizenship in either of these countries is ineligible. The Philanthropic Educational Organization, a pioneer society for women founded in 1869, has many resources and tips that you should explore if you are a woman applying from outside of Canada.

Financial Options: Yearly Schedule for Full-Time Students

While dates are subject to change according to regulations and availability, the following is a typical schedule of different financial options for the Full-Time MBA Class:

First Year

Entrance scholarships and fellowships awarded with offer of admission
September: First year of school term officially begins
September 15: Canada Student Loans awarded
March: Majority of interviews for summer employment
May: Summer employment begins
Late August: Rotman In-Program Awards and Teaching Assistantships awarded

Second Year

September: Second year officially begins
Late September: Research assistantships are rewarded

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