How much funds are required to get a Canadian student visa?
Updated on Dec 14, 2023Though the amount of funds required to get a Canadian student visa can vary based on several factors, including your chosen educational institution, location of study, program duration and your individual circumstances, you would typically need to demonstrate funds of at least CAD 10,000 (approximately) for a 12-month study program, in addition to your tuition fees.
As a general guideline, you will need to demonstrate that you have enough funds to cover:
- Tuition Fees: You must show that you can pay for your tuition fees for the entire duration of your program. The specific tuition fees depend on your chosen program and institution.
- Living Expenses: You'll need to demonstrate that you have enough funds to cover your living expenses, which include accommodation, food, transportation and personal expenses. The amount for living expenses can vary depending on whether you are studying in a metropolitan area or a smaller city.
- Return Transportation: You should have sufficient funds to purchase a return ticket to your home country or the country of your permanent residence.
- Medical Insurance: You may need to have health insurance coverage for the duration of your stay in Canada.
Make sure to review the latest guidelines and current financial requirements. Additionally, consider seeking guidance from study abroad consultants like Edvoy for assistance in understanding and meeting the requirements to study in Canada.