How much money in my bank account do I need?

[GabrielGAR]

The IMM 1294 form asks me about my funds available for my stay, and to be honest, I don't have a lot of money in my bank account right now. I saw in Canada's website that I need at least $917 a month (or $11,000 a year) to support myself in Quebec, and my parents make about 6~7 times that much money. Can my student permit application be refused if I don't have enough funds in my bank account even if I can prove that my parents are financially able to support me?

 

[Manohar Rathod]

The IMM 1294 form asks me about my funds available for my stay, and to be honest, I don't have a lot of money in my bank account right now. I saw in Canada's website that I need at least $917 a month (or $11,000 a year) to support myself in Quebec, and my parents make about 6~7 times that much money. Can my student permit application be refused if I don't have enough funds in my bank account even if I can prove that my parents are financially able to support me?

You have to show atleast one year of your tuition fees in the account and one year living expenses in the form of GIC and additionally more money in order to process smoothly & also I hope you paid your first sem fees.
And if your sponsors have enough money in their account then submit their bank statements , ITR and pay slips if salaried.
Also if they have any investments in the form of FD or any property.
Don’t worry
Work on it .
And if you still feel that you are unable to show the required funds then apply for education loan.
All the best

 

[GabrielGAR]

You have to show atleast one year of your tuition fees in the account and one year living expenses in the form of GIC and additionally more money in order to process smoothly & also I hope you paid your first sem fees.
And if your sponsors have enough money in their account then submit their bank statements , ITR and pay slips if salaried.
Also if they have any investments in the form of FD or any property.
Don’t worry
Work on it .
And if you still feel that you are unable to show the required funds then apply for education loan.
All the best

I forgot to mention that I am a fee-exempt exchange student, so I don't have to pay tuition. My exchange will only last for about 8 months though, I'm not staying during the summer. Do I need to show enough savings for a full year or is 8 months enough?

 

[Johnsnow 007]

I forgot to mention that I am a fee-exempt exchange student, so I don't have to pay tuition. My exchange will only last for about 8 months though, I'm not staying during the summer. Do I need to show enough savings for a full year or is 8 months enough?

you have to only show enough funds to cover the duration of the 8months but if you can show for one year, there is no harm either