Funds Required For Student Visa In Canada

One of the most common questions asked by intending student visa applicants is about the funds required for Student Visa in Canada. Funds so formed are generally referred to as educational funding or financial support or financial guarantee .One of the main requirements of the student visa application is to prove that you have sufficient funds to carry you through the duration of your stay in Canada. In all cases, it is important to provide evidence, which will underline your ability to support yourself financially during your stay in Canada.

Student visa Canada is an essential travel document that permits non-Canadian citizens to enter Canada. This document is a mandatory travel document to study in CanadaStudent pathway programs are considered-to be a good option for Canadians who want to stay in Canada and study. Despite the fact that, many people desire to earn their degree from abroad, it also requires a lot of funds.

Funds Required For Student Visa In Canada

Table of Contents

Proof of acceptance

Your school must send you a letter of acceptance. Include the original or electronic copy of your letter with your study permit application.

Conditional acceptance and prerequisite courses

If you’ve been conditionally accepted, this means you need to take prerequisite courses. For example, these might be English as a second language or French as a second language courses. You must complete these before you can start your main study program.

If this is the case, we’ll only issue your study permit for the length of those courses plus 1 year. Once you’re accepted into your main program, you’ll need to apply for a new student permit to extend your stay as a student.

Exceptions

If you’re the family member of someone who has a study permit or work permit application that’s been approved in writing before you come to Canada, you don’t need a letter of acceptance.

Proof of identity

When applying for your study permit, you and each family member who comes with you to Canada must have

a valid passport or travel document
- Online applicants: Upload a copy of the information page of your passport when you apply online.
  - If you’re approved, you must then send us your original passport.
- Citizens of the United States have some options on the identification documents they can carry.
- Lawful permanent residents of the United States must travel with a valid green card (or equivalent official proof of status in the U.S.) and a valid passport from their country of nationality (or an equivalent document).
two recent passport-size photos
- The name and date of birth of the person should be written on the back of each photo.

Proof of financial support

You must prove that you can support yourself, and the family members who come with you, while you are in Canada.

You can prove your funds with:

proof of a Canadian bank account in your name, if you’ve transferred money to Canada
Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution
proof of a student or education loan from a bank
your bank statements for the past 4 months
a bank draft that can be converted to Canadian dollars
proof you paid tuition and housing fees
a letter from the person or school giving you money, or
proof of funding paid from within Canada, if you have a scholarship or are in a Canadian-funded educational program

Minimum funds needed to support yourself as a student (and family members who come with you):

Persons coming to Canada	Amount of funds required per year (doesn’t include tuition)	Amount of funds required per month (additional to the tuition)
You (the student)	CAN$10,000	CAN$833
First family member	CAN$4,000	CAN$333
Every additional accompanying family member	CAN$3,000	CAN$255

Example:

If you and 2 family members want to come to a province (other than Quebec) for a year, you will need

living expenses: $10,000 (for the student)
living expenses: $4,000 (for the first family member)
living expenses: $3,000 (for the second family member)
Total: $17,000

People coming to Canada	Amount of funds required per year (doesn’t include tuition)	Amount of funds required per month (doesn’t include tuition)
1 person under the age of 18	CAN$6,569	CAN$547
1 person aged 18 or over	CAN$13,134	CAN$1,095
2 people aged 18 or over	CAN$19,264	CAN$1,605
2 people aged 18 or over and 1 person under the age of 18	CAN$21,579	CAN$1,798
2 people aged 18 or over and 2 people under the age of 18	CAN$23,290	CAN$1,941

If your country uses foreign-exchange controls, you must prove that you’ll be allowed to export funds for all of your expenses.

Letter of explanation

This letter helps the visa officer to understand you and your goals. It explains

why you want to study in Canada and
that you understand your responsibilities as a student

You should include this letter if you decide to apply for a study permit, even if you don’t have to get a study permit for your program.

Québec Acceptance Certificate

If you want to study in Quebec for longer than 6 months, you need a Québec Acceptance Certificate (CAQ) issued by the Gouvernement du Québec. Your school can give you all the details on how to apply for the CAQ.

If your application for a CAQ got approved by the ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI), but you’re still waiting to get the CAQ, you can apply for your study permit with the approval letter from the MIFI. You don’t need to wait for the CAQ to apply.

Find out about the process and the documents you need for studying in Quebec.

If you plan to study in Quebec for less than 6 months, you can apply for a study permit without a CAQ.

Custodian declaration (minor children)

If the minor requires a custodian, you must include the Custodianship Declaration form (PDF, 1.02 MB) with your application. It has 2 pages that must be notarized (certified by a notary) and then included with your study permit application.

The custodian in Canada must sign the first page, and the parents or legal guardians of the minor child in the child’s home country must sign the second page.