Proof of financial support for a Canadian study permit means the applicant’s ability to pay his/her education and living expenses in Canada for the duration of his studies. These costs include university tuition fee, housing, food, transportation, health insurance, and other necessary expenses.
Minimum financial requirement for Canadian study permit
According to the latest regulations of the Canadian Immigration Department, the minimum required fund for a Canadian study permit for one year should be sufficient for:
- Tuition fee for the first year of education
- Cost of living in Canada for one year
Cost of living in Canada for one year
According to the latest update from the Immigration, Refugees and Citizenship Canada, the minimum annual cost of living for a single student is $20,635 Canadian dollars. However, the cost of living varies depending on the city and people’s lifestyle.
Tuition for the first year of education
Tuition for the first year of study in Canada also varies depending on the university and field of study. Generally, first-year tuition at a Canadian public university for an international student is between 15,000 and 20,000 Canadian dollars.
Required proof of financial support for a Canadian student permit
As mentioned above, the total annual financial requirement for a Canadian study permit is about 36,000 Canadian dollars. This amount is for a single student, and the amount will be higher if he/ she is accompanied by a spouse and children.
Financial requirements for Canadian study permit (except Quebec)
One of the main requirements of getting a Canadian study permit is to provide the right financial documents. The financial support document should show the officer that the applicant can afford the living expenses and tuition fees of his university for at least one year.
| Individual(s) | Annual Financial requirement +Tuition Fee | Monthly Financial requirement +Tuition fee |
| Student | $20,635 + tuition fee | $1,719 + tuition fee |
| Accompanying family member | $4,000 +Tuition fee | $333+ Tuition fee |
| Additional family member | $3,000+Tuition fee | $255+ Tuition fee |
How to provide proof of financial support?
To prove the financial support to study in Canada, the applicant may provide the following documents:
- Applicant’s bank account statement and turnover for the last six months
- Documents related to scholarships or student loans from financial institutions, if any
- Evidence of the paid tuition fee
- A letter from a financial sponsor or institution that provides financial assistance to the applicant
The letter of financial support must be issued in English or French from a reputable bank or financial institution and addressed to the embassy, and usually the currency conversion rate or its equivalent in Canadian dollars is mentioned.
Note: the officers are aware of the conversion and exchanges rate.
Proof of financial support for spouse and dependent children
If the applicant has accompanying spouse and children , their living expenses for one year should be added to the applicant’s expenses.
The financial documents proving the spouse’s financial support include the following:
- bank statement
- Letter of employment
- Pay slips
- Social insurance records of employment
- Employment contracts
- Job offer
In case of being self-employed, Letter of incorporation of the company, business license or any other related documents indicating type of property to prove of the spouse’s financial support may be provided.
Even if the applicant’s spouse is not employed and cannot provide financial documents, as long as the applicant can show that he can afford the expenses of his spouse’s life in Canada for one year tby providing the bank statement , that document would meet the requirements.
recommendations
- To prove financial support, it is better to submit more evidence and supporting documents.
- Submit your financial documents as scanned and stamped with the signature of the bank.
- The rate announced in the financial documents must be in Canadian dollars.
- If you are accompanied by your spouse and children, add their living expenses for one year to your expenses.
