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Financial Requirements for International Students to Study in Canada

For a successful student visa application, you must meet the financial requirements set by the government of Canada.

Financial Requirements for International Students to Study in Canada

In collating your credentials to meet Canada's financial requirements, bear in mind that you must have unrestricted access to the available funds. The funds must cover your school fees, living expenses for you and the family members who will be accompanying you.

Documents include the following:

  • Proof of a Canadian bank account in your name, if you have transferred money to Canada
  • Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution
  • Bank Statements going back several months
  • Bank Draft that can be converted to Canadian dollars
  • Proof of funding if you are the recipient of a scholarship or enrolled in a Canadian-funded education program

Below is a table showing the minimum amount you should prepare, quoted in Canadian Dollars or CAD. The Proof of Funds for a Canada student visa application are as follows:

Expense Quebec Other Provinces
Approximate tuition and other related school fees 16,500
Living expenses per year
   One person (You) 11,000 10,000
   First family member 4,000
      18 years or older 5,100
      Under 18 years 3,800
   Each additional family member 3,000
      18 years or older 5,125
      Under 18 years 1,903

The tuition fee quoted above is an estimate only. The amount varies between institutions and study programs.

Read up on additional information on how to apply for a Canada student visa.

Then, take the first step toward an application to study in Canada! Get basic information about a Canada student visa with one of our Migration Associates and allow IVC Immigrant Visa Center to be your partner in assuring your future career overseas.

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