The Canadian economy has taken a hit in the past couple of months, and with it, we’ve seen the Canadian dollar drop in value from near US parity to about 70 American cents.

Although this isn’t the best news for Canadians, this means big savings for our neighbours to the south, especially those looking up north as a viable option for post-secondary education at a newly discounted price.

Carolyn Ford, director of international undergraduate recruitment, states that although it is too early to tell, she hopes to see an increase in the number of American and international citizens as well as Canadian ex-patriots applying to university in Canada.

“In recent years, we have been seeing a community of about 100 Canadian ex-pats who enrol at Western annually in pursuit of the affordable excellence found at Canadian Universities,” she said.

The incentives for Americans to come study in Canada go beyond the increased buying power of their dollar. Not only are they immediately more wealthy in Canada when converting their money, tuition is on average lower in Canada compared to the US. Tuition at Western for international students costs on average CAD $22,817 (USD $15,971.9), whereas the average tuition at private American Universities is USD $32,405, according to Collegedata, a college advisor website.

“Across the board, Canada offers access to quality education, and I hope that with the increased affordability seen today, we can continue to foster the diverse and inclusive environment Canada is known for,” Ford said.