Canada tops the list as the country where everyone mostly desires to either have their high school or tertiary education. As discussed in our previous article, getting an education there doesn’t come cheap, and if your parents or sponsors don’t have deep pockets you better look elsewhere.
Even after going through the process, the consular is interested in knowing how much you have in your bank account to cover your living expenses. Statistics conducted showed one of the major ways international students get denied student visas is not being able to show proof of enough funds.
Today we will look at the topic of Bank balance for a Canadian student visa:
What is proof of funds?
Either proof of funds or bank balance of any of the two is good to go, It is the financial evidence a foreigner provides to the consular or a foreign school during the application process. It has been specially made to ensure foreigners wouldn’t be stranded during their stay and can be used to cover many bills in terms of rent, clothing, and feeding.
Can I use someone else’s bank balance?
Yes provided you share a close relationship with that individual, they can be your parents, distant relatives, or guardians who are also living in Canada or another country. With this, the Canadian consular or school applied to would request you bring the sponsor’s bank statement which shows the amount in his account.
There are also many years required for whoever the sponsor is to have worked abroad before he can use his bank statement. Also, they weigh his financial strength the type of job he’s doing, and whether it can see you throughout your stay.
What is the bank balance required for a Canadian student visa?
The bank balance needed here comes in two types whether your school is in the province of Quebec or outside the province. As we know Quebec is one of the largest provinces in Canada so education there would be a bit expensive compared to being outside the province.
If it’s outside Quebec you would need approximately $10,000 to secure yourself a visa, but if you are within Quebec you will need $11,000.