To study in Canada, you must show proof of sufficient funds to cover your tuition fees, living expenses, and return transportation for yourself (and any accompanying family members) when applying for a Canadian student visa (Study Permit). Here’s a breakdown of the financial requirements:

1. Tuition Fees

- Varies according to university and program, typically CAD 15,000 to CAD 30,000 per year for most undergraduate and postgraduate courses.

2. Living Expenses

The Government of Canada requires you to show proof of funds for living expenses. As of the latest guidelines:

For students outside Quebec (2024/25):

- CAD 20,635 per year for the student (from Jan 1, 2024).
- Additional funds for accompanying family members:
- First accompanying family member: CAD 4,000 per year
- Each additional family member: CAD 3,000 per year

In Quebec:

- The requirements are slightly different. Kindly let me know if you need Quebec-specific details.

3. Proof of Funds Can Be Shown As:

- Bank statements (past 4-6 months)
- Guaranteed Investment Certificate (GIC) – especially for SDS applicants (minimum CAD 20,635 for 1 year)
- Loan letter from a bank
- Proof of payment of tuition and accommodation fees
- Scholarship or funding letter (if applicable)
- Proof of paid housing and tuition fees (if pre-paid)

4. Sample Calculation (Outside Quebec):

Suppose your tuition fee is CAD 18,000 per year.

- Tuition Fees: CAD 18,000
- Living Expenses: CAD 20,635
- Total Minimum Proof of Funds Required: CAD 38,635 (for one year, not including flight and other miscellaneous costs).

Note:

- If bringing family, add the required amount per dependent.
- Funds must be readily available and accessible (not just a lump sum for a short period).

Why Is This Important?

Showing sufficient funds is a critical requirement for your Canadian student visa (Study Permit) approval.

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Need help with financial planning, GIC process, or preparing your visa documents? Pollster Education can guide you through the entire process!

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- Address: 8, Alankar Building, 1st Floor, Balaram Street, Above Bank of India, Grant Road (E), Mumbai
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