International students must have the financial capacity to pay for their education and living expenses whilst overseas. Students are not required to show proof of funds for the entirety of their studies; however, a source of funds will need to be evidenced for future payments. Any part time work undertaken whilst overseas cannot be used to demonstrate proof of funds. Please review the following items prior to submitting financial documentation to a university or immigration official.

1. Financial documents must be originals copies where possible. The funds should be visible on official letterhead and include an authorised stamp and / or signature. Scanned documents might be accepted but are not advised due to an increased risk of a visa rejection. 

2. The date for all financial documents must be recent. Producing documents that are 6-12 months old will cause suspicion from the institution and visa office. 

3. Financial documents must be in English or include an official English translation.

4. The amount evidenced must be equal or greater than the requirements set out by the government guidelines. It’s always best to evidence more funds than necessary. 

5. Financial documents will need to be in a liquid form. Producing life insurance documents, gold deposits, share certificates and bonds can lead to questioning and suspicion from an immigration official. 

Financial Evidence Required

The government in Canada require different amounts to cover the cost-of- living depending on a students intended study destination. Students pursuing an education in Canada need to provide financial evidence to cover the following

• First year of tuition fees. 

• Living / maintenance costs – $10,000 outside of Quebec, $11,000 within Quebec.

• Dependent living / maintenance costs, $4,000 – $5,100 per year.

• $2,000 for flights. 

Students can deduct the scholarship and / or deposit amount paid towards their tuition fee as part of their financial evidence.

I hope you found the information on our Study in Canada page useful. StudyOverseasNow.com are study abroad education agents that specialize in providing expert advice throughout the consultation and application process. If you would like to Study in Canada and hope to secure a significant scholarship or study grant at a Canadian university book a FREE Consultation with an experienced education & career counsellor to find out what overseas study options are available. We look forward to helping you start your journey to a brighter future.