Applying for a student visa, also known as a study permit, in Canada requires the submission of a variety of documentation, as well as proof that you can support yourself financially while you're there.
You will be required to provide evidence of financial support when applying for or renewing your Canada study permit.
The query is, “What paperwork is needed to demonstrate funding?”.
These Are The Documents Required To Prove Funding For Student VISA
Below, you'll find a list of those files;
1 Verification that you have paid all of your tuition and housing fees.
2. Documentation of Canadian-based scholarship or educational grant funding.
3. A bank draft in Canadian dollars can be used as proof of funding.
4. Your student loan or education loan from a reputable bank is additional proof of financial stability.
5. Bank statements for the prior four months can be used as proof of funding.
6. You may also submit a letter from the person or organization paying for your education.
7. The seventh option is a Guaranteed Investment Certificate (GIC) from a Canadian bank.
After determining the most appropriate proof strategy, you should also ensure that you have sufficient funds to cover basic living costs. Dependent on the province in which you plan to enroll in school, you will be required to meet a minimum annual income before taxes. Quebec's rate is significantly higher than the national average.
For funds required within Quebec province
You should have at least $11,000 on hand per year to cover expenses other than tuition.
A supplementary fee of $5,100 is required for each family member over the age of 18 who will enroll in college alongside you (tuition included).
Visit the official Canada immigration website for details on how to pay for your new life in Quebec.
For funds required outside Quebec for living expenses
To cover living expenses and school fees on your own, you'll need at least $10,000 per year.
The seven examples of funding evidence for study permits, tuition, and living expenses are highlighted above. Submission of documentation demonstrating sufficient funds to cover living expenses in Canada.
If your program in Canada will take less than six months to complete, you will not need a student visa. Otherwise, you'll need a student visa if your course of study will last longer than six months.
To top it all off, you may need to prove that you have the means to get back home when the time comes. This piece's sole purpose was to educate you on the various forms of proof of financial support at your disposal. To prove financial support, you can use any one of the seven examples given earlier in this piece.
Canada's immigration service recognizes these file types. The best course of action is to focus on influencing those who are most convenient to approach.
In conclusion, you should have a better understanding of what paperwork is required to prove that you have sufficient funds after reading this article.