--- title: Fund Requirement to Study in Canada - Immigrant Visa Center description: Get to know the financial requirements to study in Canada for you and your family members to prepare well in advance of your enrollment. image: https://www.visacenter.org/hubfs/visacenter-beta/media/2020/07/CAN-FSW-img-Proof-of-Funds.jpg --- [+63 917 531 8472](tel:+639175318472) · (02) 5310 0228 Mon–Fri 9:00 AM–4:00 PM PHT (UTC+08:00) Ortigas Center, Pasig City [![IVC Immigrant Visa Center](https://www.visacenter.org/hs-fs/hubfs/visacenter-beta/mockups/logo.jpg?width=150&height=54&name=logo.jpg)](https://www.visacenter.org/) - Destinations [USA](https://www.visacenter.org/usa) - [Visit](https://www.visacenter.org/usa/visit) - [Study](https://www.visacenter.org/usa#study) - [Work & skilled](https://www.visacenter.org/usa#work) - [Family & partners](https://www.visacenter.org/usa/family) [Canada](https://www.visacenter.org/canada) - [Visit](https://www.visacenter.org/canada#visit) - [Study](https://www.visacenter.org/canada/study) - [Work & skilled](https://www.visacenter.org/canada/work) - [Family & partners](https://www.visacenter.org/canada#family) [UK](https://www.visacenter.org/uk) - [Visit](https://www.visacenter.org/uk#visit) - [Study](https://www.visacenter.org/uk#study) - [Work & skilled](https://www.visacenter.org/uk#work) - [Family & partners](https://www.visacenter.org/uk#family) [Australia](https://www.visacenter.org/australia) - [Visit](https://www.visacenter.org/australia#visit) - [Study](https://www.visacenter.org/australia/study) - [Work & skilled](https://www.visacenter.org/australia#work) - [Family & partners](https://www.visacenter.org/australia#family) [Overseas partners](https://www.visacenter.org/partners) [Canada](https://www.visacenter.org/partners/canada) - [Canadore College](https://www.visacenter.org/partners/canada/canadore-college) - [Fanshawe College](https://www.visacenter.org/partners/canada/fanshawe-college) - [Conestoga College](https://www.visacenter.org/partners/canada/conestoga-college) Not sure which visa fits? 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[Home](https://www.visacenter.org/) 2. [Canada](https://www.visacenter.org/canada) 3. [Study](https://www.visacenter.org/canada/study) 4. Fund Requirement to Study in Canada # Fund Requirement to Study in Canada [IVC Immigrant Visa Center](https://www.visacenter.org/authors/ivc-editorial-team) · April 13, 2020 ![Funds needed for FSW applicants](https://www.visacenter.org/hs-fs/hubfs/visacenter-beta/media/2020/07/CAN-FSW-img-Proof-of-Funds.jpg?width=400&height=300&name=CAN-FSW-img-Proof-of-Funds.jpg) Best practices dictate that when applying as an international student, it’s best to know the fund requirements to study in Canada even before beginning an application. These funds, after all, must cover your school fees, living expenses, and those of the family members who will accompany you while you study. Some online forums and ads state that there isn’t any need for “show money” to study in Canada. The term is misleading as it implies that ownership of the funds isn’t genuine or that the use of the money is temporary for the visa application. Though there are [other considerations](https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/study-permits/other-considerations.html), meeting the financial requirement to study in Canada is a critical factor determining the approval of your study permit application. Proving these funds are readily available for your use comes a close second. ### Funds to study in Canada. Tuition and other school-related fees vary between institutions and study programs, so we can’t tell a client immediately how much his total expenses will be. That’s the reason why our firm conducts a program and school match during a migration briefing. We do know, though, that the federal government of Canada has set a 12-month minimum fund requirement. Quebec province has its own conditions. The table below details the minimum financial resources to study in Canada. Please note that the figures are quoted in Canadian Dollars (CAD). | Number of applicants | Funds required for all provinces except Quebec | Funds required for Quebec | | --- | --- | --- | | One (The student) | Tuition and school fees + $10,000 | Tuition and school fees + $11,000 | | + Spouse or CLP, or any family member who is 18 years and older | $4,000 | $5,100 | | + First family member, under 18 | N/A | $3,800 | | For every additional family member, 18 years and older | $3,000 | $5,125 | | For every additional family member, under 18 | N/A | $1,903 | ![how international students can find jobs in canada call 84002838](https://www.visacenter.org/hs-fs/hubfs/visacenter-beta/media/2020/04/CAN-SV-Inline-Tips-for-students-to-look-for-jobs.jpg?width=140&height=109&name=CAN-SV-Inline-Tips-for-students-to-look-for-jobs.jpg) Gain valuable Canadian work experience while augmenting pocket money by working part-time while studying. [Learn how to find a part-time job while studying in Canada](https://www.visacenter.org/immigrant-visa-center-blog/tips-on-how-international-students-can-find-a-job-in-canada). All fee-paying students must meet the fund requirements to study in Canada based on estimated living expenses such as: - housing rental - insurance - weekly supermarket shopping - meals and snacks on and off-campus - refuse, electricity, and heating bills - parking fees - mobile phone expenses - travel - clothing - socializing - Health. ### Proof of funds. There are many ways to meet the financial requirement to study in Canada, such as - Proof of your Canadian bank account showing the money you have transferred. - Guaranteed Investment Certificate (GIC) from a Canadian Financial Institution. - Bank statements for the past four months before your application. - Bank draft that can be converted to Canadian dollars. - Proof you paid for tuition and housing. - If you are the recipient of a scholarship or are enrolled in a Canadian-funded educational system, evidence that funds will be paid from within Canada. One good news about studying in Canada is that the government allows study permit/visa applicants to have sponsors. Moreover, your sponsor does not have to be a close family member or live with you at the time of your application. IRCC, however, will require them to submit documents as proof that they will support your stay in Canada. [![Apply as a Canada student under the Study Direct Stream procedure](https://www.visacenter.org/hs-fs/hubfs/visacenter-beta/media/2020/07/CAN-SV-Inline-Study-Direct-Stream.jpg?width=400&height=300&name=CAN-SV-Inline-Study-Direct-Stream.jpg)](https://www.visacenter.org/immigrant-visa-center-blog/apply-under-the-student-direct-stream) The [Student Direct Stream application procedure](https://www.visacenter.org/immigrant-visa-center-blog/apply-under-the-student-direct-stream) promises faster processing for student permit/visa applications. Get to know if you are eligible to apply. #### Applying under the Student Direct Stream The [Student Direct Stream](https://www.visacenter.org/immigrant-visa-center-blog/apply-under-the-student-direct-stream), or SDS, is a unique program implemented for international students from some countries, including the Philippines, China, India, and Vietnam.  As the SDS promises faster processing of an application, qualified applicants don’t have to submit many documents as proof that they meet the financial requirement to study in Canada. So, if you are going to apply under the SDS, Immigration, Refugees and Citizenship Canada will require you to: - Deposit living expenses for one year in designated banks in Canada and - Pay the one-year tuition fee for your study program. Are you on the right path toward a successful visa application? Or, are you still researching your options to live abroad? Even Do-It-Yourself people need some help to determine the best course of action so you can live overseas legally, in the country of your choice. [Get a Free Consultation](https://www.visacenter.org/immigration-assistance-services-by-migration-consultants-in-the-philippines)and see for yourself if we could work together for a successful application. [![Get a Free Consult](https://www.visacenter.org/hs-fs/hubfs/visacenter-beta/media/2020/08/CTA-FREE-Consultation.jpg?width=600&height=60&name=CTA-FREE-Consultation.jpg)](https://www.visacenter.org/immigration-assistance-services-by-migration-consultants-in-the-philippines) ### More on Canada · Study - [Canadore College: A Pathway to Permanent Residency in Canada](https://www.visacenter.org/immigrant-visa-center-blog/canadore-college-a-pathway-to-permanent-residency-in-canada) - [International Students Can Apply for Canadian Permanent Residence](https://www.visacenter.org/immigrant-visa-center-blog/international-students-can-apply-for-canadian-permanent-residence) - [Enhanced Professional Practice - Gerontology and Chronic Illness at Conestoga College](https://www.visacenter.org/immigrant-visa-center-blog/enhanced-professional-practice-gerontology-and-chronic-illness-at-conestoga-college) - [Study at Conestoga College](https://www.visacenter.org/immigrant-visa-center-blog/study-at-conestoga-college) - [IRCC announces study and work changes in Canada for the fall 2020 intake.](https://www.visacenter.org/immigrant-visa-center-blog/ircc-study-and-work-visa-changes-for-fall-2020-intake) [All study guides for Canada →](https://www.visacenter.org/canada/study) ## Ready to discuss your visa or migration concern? 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