Canada is a popular destination for international students. In order to pursue studies in Canada, proof of unencumbered available funds is required to cover tuition and living expenses.
You can prove funding with:
- your bank statements for six months showing sufficient funds to support your studies and proof you paid tuition and living expenses;
- bank statements from a close relative showing sufficient funds to support your studies and a financial support confirmation letter from the close relative;
- proof of funding paid from within Canada, if you have a scholarship or are in a Canadian-funded educational program.
Tuition is estimated at $15,000 a year. This amount varies between institutions and study programs.
In addition to tuition, you must have adequate living expenses, calculated as follows:
|Persons coming to Canada||Amount of funds required per year (in addition to the tuition)|
|With a family member||+$4,000|
|Any additional family member||+$3,000|
How to calculate the amount of proof of funds?
Example: Tuition $15,000 + $10,000 (student) + $4,000 (spouse)
Total proof of funds needed: $29,000
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