How Much Money Is Needed for Canadian Student Visa?

To obtain a Canadian student visa (Study Permit), you must demonstrate that you have sufficient funds to cover tuition fees, living expenses, and return transportation. The required amount depends on your situation and the province where you'll study. Here's a breakdown:

1. Proof of Funds for a Single Student:

You need to show funds for one year:

• Tuition Fees: As listed on your Letter of Acceptance from the educational institution (varies by program and institution, typically CAD 15,000–30,000 per year for most programs).

• Living Expenses:

o CAD 10,000 for the student.

o CAD 4,000 for the first accompanying family member.

o CAD 3,000 for each additional family member.

• Transportation Costs: Sufficient funds to cover a return ticket, though this isn't always explicitly required.

2. Examples of Total Funds:

Category Funds Required (CAD)

Tuition (example) CAD 20,000

Living (student only) CAD 10,000

Total CAD 30,000

3. Acceptable Proof of Funds:

• Bank statements or a bank certificate.

• Guaranteed Investment Certificate (GIC) of CAD 10,000 (mandatory for SDS applications).

• Proof of education loan.

• Letter from a financial sponsor.

• Proof of scholarships or funding.

4. Special Cases:

• Study Direct Stream (SDS): Students from certain countries (e.g., India, China, Philippines) must:

o Purchase a GIC of CAD 10,000.

o Pay the first year’s tuition upfront.

• Non-SDS: Demonstrating funds through other means is accepted.

Ensure your proof of funds aligns with the visa officer's expectations and covers the entire duration of your studies if possible.