Study in Canada - Financial Requirements for International Students

August 26, 2019
As a destination to pursue top quality studies Canada is very popular with international students. For pursuing these studies, Canada requires a proof of freely obtainable funds, to cover the expenses of tuition and living.

Study in Canada - Financial Requirements for International Students

Canada Immigration and the way ahead

Canada is the booming hub for many international students who have a dream of remaining in the country after they complete their studies. Canada offers an option and a direct path to gain permanent citizenship for the international students seek. It is ranked as a top place to live in the world besides having a fine education system.

Additionally, Canada is a popular option for students who seek an inexpensive alternative to pursue international studies. Canadian universities provide prestigious degrees at an affordable cost.

Canada attaches great importance to learning, and maintains a uniformly high standard in education in Canada. There are 100 universities in Canada, and five of these are ranked in the top 100 globally.

Education in Canada and Proof of Funding

The Proof of funding can be with:

  • The bank account in Canada that shows money belonging to you and transferred in it,
  • Guaranteed Investment Certificate issued by the Canadian Banks,
  • Evidence of being a student or an education loan issued by the local bank
  • Bank statements for the last four months
  • Bank draft convertible in Canadian dollars
  • Evidence of paying housing and tuition expenses
  • A school letter or from a person regarding giving money
  • Evidence of funding paid inside Canada, in case of having a scholarship or being in the educational program funded by Canada,

Moreover, there is a great variance in the expenses related to Tuition between institutions as well as study programs.

Additionally, apart from tuition, the students need to have adequate funds for living expenses that are calculated as below:

Study in Canada: Method of Calculating Amount

Tuition for self tuition $10,000 and $4,000 for spouse brings the required Total proof of funds at Tuition + $14,000
In order to have a good future, please contact us for any further details and guidance.

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