Thousands of students come to Canada annually to study or get an international qualification to help them start their careers. Do you want to study in Canada but aren’t sure how much it will cost? The first step is getting accepted to a college or university, but it’s also essential to find out how much you’ll need to save before you decide which institution you want to enroll in.
To study in Canada, you will need to meet some requirements, including being enrolled at a designated learning institution, having a clear criminal record, being in good health, and having proof that you can support yourself financially during your stay.
Why do I need funds to study in Canada?
You can work part-time (20 hours per week) while studying in Canada, but you will need enough money to support yourself, as you will not be able to work full-time without a work permit.
What Proof of Funds is Required to Study in Canada
You will need documents to prove that you have sufficient money to pay for your study visa.
- Tuition fees
- Living expenses (for you, your family, and friends, if you are bringing them with you to Canada);
- Return flight for you and any family members traveling with you.
Tuition fees vary from one institution to the next and from province to province. You can expect to pay approximately $20,000 annually in tuition fees.
It is a good idea to budget approximately $10,000 annually for living expenses as an international student in Canada. As you can see, it is better to have an extra amount to cover unexpected costs so you can fully enjoy your Canadian student experience.
|Average Living Expenses for International Students in Canada 2021|
|Mobile Phone(basic package)||$360|
|Public Transit Pass||$480|
Your home country, airline, and how far in advance you book will affect the return flight cost.
You must provide proof of minimum funds to study outside Quebec without tuition.
The minimum proof of funds required for anyone studying outside of Quebec, excluding tuition, are:
|Minimum Funds to Support Yourself as a Student in Canada|
|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|
What is Accepted as Proof of Funds?
You can submit any of these documents to prove you have sufficient funds to cover you and your family while studying in Canada:
- If you have transferred money to Canada, proof that your Canadian bank account is in your name
- Guaranteed Investment Certificate (GIC) from any participating Canadian financial institution
- proof of a student or education loan from a bank
- Your bank statements for the last four months
- A bank draft can be converted into Canadian dollars
- You can prove that you have paid tuition and housing fees
- A letter from the school or person giving you money.
- If you are a scholarship recipient or enrolled in an educational program funded by Canada, proof that funding was paid from within Canada is required.
What Documents are Required for a Canada Study Visa?
These documents are required to apply for a Canada student Visa:
- Acceptance letter from your school or institution proving the acceptance
- You must prove your identity by presenting a valid passport or travel document and two recent passport-sized photographs.
- Documentation proving financial support
You may also require:
- A letter of explanation
- a Certificat d’acceptation du Quebec (CAQ)
- A custodian declaration is required (minors only).
- Any other documents required
How to Apply for a Canada Study Permit
Three steps are required to apply for a study permit.
Step 1 – Gather your documents.
To submit a successful application, you must be prepared. To be prepared means having all the necessary documents on hand to ensure you don’t delay the application process. Any requested documents can be submitted within 30 days. It is best to begin collecting them as soon as possible.
Step 2 – Complete your application.
Online application is the best way to apply for your student visa if you’re not from Canada. It will make the process much quicker and more straightforward. The average processing time for student visas takes around 11 weeks. However, if you’re from one of these countries, you might be eligible to apply through Student Direct Stream (SDS). This will allow you to get your visa processed in as little as 20 days.
- Antigua and Barbuda
- Costa Rica
- Saint Vincent and the Grenadines
- Trinidad and Tobago
Before you begin the application process, make sure that you have read your country’s specific instruction guide. At least four student visa applications are denied because they were incomplete or incorrectly completed.
Step 3 – Pay your application fee, and submit your application
After you have completed your application, you will need to pay the application and biometrics fees. Your biometrics consists of your digital fingerprints as well as a digital photograph. Your biometrics will be valid for up ten years after you submit them. You will need a debit or credit card to make the online payment.
Studying in Canada can lead to many positive changes in your life, including boosting your career, increasing your chances of gaining Canadian work experience, and eventually applying for permanent residency. Research your dream university or college’s requirements to determine if you qualify for a Canada student visa.