A large factor that every student considers when deciding on their school or program is scholarships and bursaries. Figuring out how you’ll fund your education is important to every student and knowing which schools are recognized for their financial aid programs can be helpful. Maclean’s has released their list of Canada’s best universities in 2025 by scholarships and bursaries.
The following universities allocate more of their budget towards scholarships, bursaries, and awards for their students. Make sure you check out each school’s website for the latest scholarship information!
The rankings for 2025 are as follows:
Primarily undergraduate universities
Universities in this category are largely focused on undergraduate education, with relatively fewer graduate programs and graduate students, making these schools a good choice for starting your post-secondary education.
| School | Overall 2025 Ranking | Percentage of Operating Budget Dedicated to Awards | Algoma University | 1 | 12.1% |
|---|---|---|
| Saint Mary’s University | 2 | 11.6% |
| University of Prince Edward Island | 3 | 10.0% |
| Mount Allison University | 4 | 9.6% |
| Trent University | 5 | 9.3% |
| Lakehead University | 6 | 8.9% |
| Acadia University | 7 | 8.0% |
| St. Thomas University | 8 | 7.9% |
| Bishop’s University | 9 | 7.3% |
| Université de Moncton | 10 | 7.1% |
| St. Francis Xavier University | 11 | 6.7% |
| Brandon University | 12* | 6.3%* |
| Laurentian University | 12* | 6.3%* |
| Ontario Tech University | 14 | 6.0% |
| Cape Breton University | 15 | 5.9% |
| Nipissing University | 16 | 5.6% |
| Mount Saint Vincent University | 17 | 5.5% |
| University of Lethbridge | 18 | 5.2% |
| University of Winnipeg | 19 | 4.9% |
| University of Northern British Columbia | 20 | 3.3% |
An * indicates a tie.
Comprehensive universities
Universities in this category have a significant amount of research activity and a wide range of undergraduate, graduate, and professional programs. These are great if you’re planning to take your university degree further.
| School | Overall 2025 Ranking | Percentage of Operating Budget Dedicated to Awards |
|---|---|---|
| University of Waterloo | 1 | 14.5% |
| York University | 2 | 10.9% |
| University of Victoria | 3 | 10.6% |
| Carleton University | 4 | 10.5% |
| Brock University | 5 | 9.7% |
| University of Guelph | 6* | 9.5%* |
| Wilfrid Laurier University | 6* | 9.5%* |
| Memorial University | 8 | 8.5% |
| University of Regina | 9* | 8.4%* |
| Simon Fraser University | 9* | 8.4%* |
| Concordia University | 11 | 7.8% |
| Université du Québec à Montréal | 12 | 7.7% |
| University of New Brunswick | 13 | 7.3% |
| Toronto Metropolitan University | 14 | 7.0% |
| University of Windsor | 15 | 6.2% |
An * indicates a tie.
Medical doctoral universities
Universities in this category have a broad range of PhD programs and research, as well as medical schools.
| School | Overall 2025 Ranking | Percentage of Operating Budget Dedicated to Awards |
|---|---|---|
| University of Ottawa | 1 | 18.7% |
| McGill University | 2 | 17.3% |
| University of Alberta | 3 | 13.2% |
| University of Calgary | 4 | 12.9% |
| Queen’s University | 5* | 12.7%* |
| University of Toronto | 5* | 12.7%* |
| Dalhousie University | 7 | 12.2% |
| Western University | 8 | 12.1% |
| University of Manitoba | 9 | 11.5% |
| Université Laval | 10 | 11.2% |
| Université de Montréal | 11 | 10.9% |
| University of Saskatchewan | 12 | 8.5% |
| University of British Columbia | 13 | 8.3% |
| Université de Sherbrooke | 14 | 8.0% |
| McMaster University | 15 | 6.5% |
An * indicates a tie.
Don’t forget — every school’s scholarship and bursary programs are unique. You’ll find awards based on academic performance, extracurricular involvement, program choice, and more in your search for financial aid.
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