Express Entry vs Study Permit ROI Calculator
Compare the total cost and timeline of both paths to Canadian PR. See which route makes more financial sense for your situation.
Not sure? Use the CRS Gap Calculator first. Enter 0 if you have no Express Entry profile yet.
This is used to check whether you can fund the study route. 1 USD ≈ 1.36 CAD. 1 GBP ≈ 1.72 CAD (approximate).
Canadian college tuition for international students typically ranges from CAD 12,000 to CAD 25,000 per year. University programs often cost CAD 20,000 to CAD 45,000.
Common Mistakes in This Decision
- ✗ Choosing the study route just to “get into Canada” without a clear plan for gaining skilled Canadian work experience on the PGWP
- ✗ Not counting living costs during the study period: 2 years of tuition is only part of the bill
- ✗ Assuming Express Entry is impossible below 470. CEC draws, French draws, and PNPs all have lower effective cutoffs
- ✗ Choosing a low-ranked DLI (Designated Learning Institution) to save tuition, then finding the PGWP is shorter or ineligible
- ✗ Forgetting that work done during study (20 hrs/week) partially builds Canadian work experience, which raises the CRS score for CEC
How the ROI Calculation Works
Both paths lead to the same destination: Canadian permanent residence. But they have very different costs, timelines, and certainty levels. This tool models both side by side using the same inputs so you can compare them on equal terms.
The core formulas are:
Study Route Total = (Tuition × Years) + (Living Cost × Years) + PGWP Period Cost + CEC Application
Savings Gap = Total Cost – Available Savings
Cost Advantage = Study Route Total – Express Entry Total
Express Entry: What You Actually Pay
The government fees for a Federal Skilled Worker or Canadian Experience Class application are not large relative to the total cost. The real financial burden is proof of funds, which IRCC requires you to hold in liquid savings at the time of application, and the cost of settlement once you arrive.
| Cost Item | Single | Couple | Family of 3 |
|---|---|---|---|
| IRCC application fee (principal) | CAD 1,365 | CAD 1,365 | CAD 1,365 |
| IRCC application fee (spouse) | – | CAD 1,365 | CAD 1,365 |
| IRCC fee (dependent child) | – | – | CAD 230 |
| Biometrics | CAD 85 | CAD 170 | CAD 255 |
| Required proof of funds (minimum) | CAD 13,757 | CAD 17,127 | CAD 21,055 |
| Medical exams (estimate) | CAD 400 | CAD 800 | CAD 1,100 |
| Police clearance, document prep | CAD 500 | CAD 700 | CAD 700 |
| ECA (if needed) | CAD 250 | CAD 500 | CAD 500 |
The proof of funds amount is not a fee; you need to hold it in your account and show it to IRCC. You keep it and use it for settlement. It is not spent during the application, but it must be available and unencumbered.
Study Permit Route: The Full Cost Picture
Most Nigerians who consider the study route underestimate the total outlay because they only count tuition. The actual cost over a 2-year program in a mid-size Canadian city includes tuition, housing, food, transport, health insurance (international student plan), and miscellaneous living expenses. After graduation, the PGWP period means 1 to 3 years of self-funded life in Canada before CEC eligibility.
Table of Truth: Full Path Cost Comparison
| Scenario | Express Entry Total | Study Route Total | Cost Difference | Timeline to PR |
|---|---|---|---|---|
| Single, CRS 490+, 2-yr study | ~CAD 18,000 | ~CAD 95,000 | EE saves ~CAD 77,000 | EE: 12-18 months vs Study: 4-5 years |
| Single, CRS 430, 2-yr study | ~CAD 18,000 (if EE works) | ~CAD 95,000 | EE saves more if CRS improves | EE: 18-30 months vs Study: 4-5 years |
| Couple, CRS 460, 2-yr study | ~CAD 28,000 | ~CAD 135,000 | EE saves ~CAD 107,000 | EE: 18-24 months vs Study: 5-6 years |
| Single, no EE eligibility, 2-yr study | Not viable | ~CAD 95,000 | Study only option | Study: 4-5 years |
When the Study Route Makes Sense
The study permit path is not the wrong choice. It is the right choice in specific situations:
- Your CRS score is below 440 and unlikely to improve significantly within 24 months
- You do not yet have the required 1 year of skilled work experience for FSW
- You want Canadian education credentials that will increase your CRS score and long-term earning power
- You are under 24 and have the time to invest in a longer route to a stronger outcome
- You want to experience Canadian life before committing to PR
When Express Entry Is the Better Choice
Express Entry is almost always cheaper and faster when you are eligible. The financial advantage is enormous: the study route typically costs 4 to 6 times more than a direct Express Entry application, and takes 3 to 5 years longer. If your CRS score is within 30 to 40 points of recent draw cutoffs, improving your language score or targeting a PNP stream is likely a better investment than two years of Canadian tuition.
Why Nigerians Weigh These Two Paths
The study route became a popular strategy because Express Entry draw cutoffs rose sharply in 2022 and 2023, leaving many Nigerian profiles with CRS scores in the 420 to 460 range stuck without invitations. For profiles in that range, studying in Canada and building Canadian experience was a rational alternative route to PR.
At the same time, many Nigerian applicants pursue the study route without fully costing it, underestimating the CAD 80,000 to CAD 150,000 total outlay required for 2 to 3 years of Canadian study and living. This calculator exists specifically to put that number in front of people before they commit.
Realistic Scenarios
Scenario 1: Software Engineer, CRS 465, Single
Amara has a BSc in Computer Science, 3 years of Nigerian work experience, and CLB 8 across all IELTS skills. Her estimated CRS is 465. She is considering a 2-year college diploma in Canada to build Canadian experience. The direct Express Entry cost to PR is approximately CAD 18,000 to 22,000. The study route would cost her approximately CAD 90,000 to 110,000 over 4 years (2 study, 1 PGWP work, 1 CEC application period). The study route may not be necessary if she targets Alberta PNP tech streams or improves her English to CLB 9, adding approximately 16 CRS points.
Scenario 2: Nurse, CRS 420, Single
Tunde is a registered nurse with 2 years of Nigerian hospital experience and CLB 7. His CRS of 420 is well below general draw cutoffs. He is considering a Practical Nursing or healthcare program at a Canadian college to gain Canadian credentials and a PGWP. After 2 years of study and 1 year of skilled nursing work in Canada, his CRS under CEC may reach 450 to 470, competitive in CEC draws. The total cost is significant (CAD 80,000 to 100,000) but the study also upgrades his Canadian credential recognition, which matters for regulated healthcare roles.
Scenario 3: Couple, Both Professionals, CRS 455 Combined
Chuka and Ifeoma both have bachelor’s degrees and 2 years of work experience. Their combined CRS (with Chuka as principal) is approximately 455. The study route for one of them would cost CAD 120,000 to 150,000 over 4 to 5 years. Alternatively, if Chuka’s French improves to NCLC 7+, they become eligible for French-language draws at cutoffs around 360 to 420. A targeted French language investment of 6 months could save them over CAD 100,000 in study costs.
Common Questions
Can I work while studying in Canada?
Yes. International students in Canada can work up to 24 hours per week during academic sessions (the cap was raised from 20 hours in 2024; verify the current rule on the IRCC website). This income helps offset living costs but typically covers only a portion of monthly expenses.
Does the study route guarantee PR?
No. The study route gives you Canadian experience that helps your CRS score via CEC, but CEC still requires an Express Entry ITA. Your score must still meet or exceed the draw cutoff. Studying in Canada raises your odds but does not guarantee PR.
What is a PGWP and how long does it last?
A Post-Graduation Work Permit allows international graduates from eligible Designated Learning Institutions to work in Canada after graduation. The length depends on your program: programs of 8 months to 2 years get a PGWP equal to the program length; programs of 2 years or more get a 3-year PGWP. Not all DLIs or programs are eligible; check the IRCC list before enrolling.
Does tuition paid in Canada count toward proof of funds?
No. Proof of funds for Express Entry must be unencumbered savings (not tied to other obligations). Tuition paid for a Canadian program does not count toward the required settlement funds.
Is it worth studying in Canada just to improve my CRS score?
Sometimes. If the cost of study would be CAD 80,000 to 100,000 but an alternative such as improving your language score by one CLB band or applying to a PNP stream would close the same gap for CAD 500 to 2,000, the study route is not justified on cost grounds alone. Use the tool to see the gap before deciding.
What if my savings are below what either path requires?
Both paths have a minimum funding floor. For Express Entry, you need at minimum the proof of funds amount (CAD 13,757 for a single applicant in 2024; verify current amounts on the IRCC website). For the study route, you need to show CAD 10,000 per year plus tuition at the time of the study permit application. If your savings are below these floors, both paths require a period of saving or family support before proceeding.
