CAN I ONLY SHOW THE MINIMUM 10,000 CAD (YEAR 1) IN MY PROOF OF FUNDS FOR A 2-YEAR PROGRAM?

[Azizmustapha]

Hello,

It says in the IRCC website that the minimum amount of money I'll need to support myself in (Toronto) Canada is 10,000 CAD. I'm going to take a 2-year pogram, that means I'll need at least 20,000 CAD.

Can I only show in my proof of funds via bank statement the minimum 10,000 CAD for the first year only? I don't have another 10,000 CAD for the second year. Will the visa officer reject my study permit application if I didn't also have a 10,000 CAD for my second year stay in Canada?

Thanks.

 

[jigzyy]

Hello,

It says in the IRCC website that the minimum amount of money I'll need to support myself in (Toronto) Canada is 10,000 CAD. I'm going to take a 2-year pogram, that means I'll need at least 20,000 CAD.

Can I only show in my proof of funds via bank statement the minimum 10,000 CAD for the first year only? I don't have another 10,000 CAD for the second year. Will the visa officer reject my study permit application if I didn't also have a 10,000 CAD for my second year stay in Canada?

Thanks.

You can definitely apply with 1 year of living expense (i.e., $10,000) + 1 year of tuition fee + any other charges mentioned on the letter. But you will have to somehow show/prove source of second years expenses. On top of that, you'll have to have at least additional $3000 for return ticket. You don't have to mentioned these in any way, they will automatically assume funds.
So, in short, to apply:

1. 1 year tuition fee + 1 year living fee + textbooks / other expenses mentioned on LOA
2. Additional 5,000 ~ 10,000 in funds from #1.
3. Source of money for second year in addition to 1 and 2 above. It could be your sponsors bank statement, fixed deposits etc.

This way, you are proving yourself to be financially stable enough to study & return back to home country without depleting all resources.

They have accepted applications with fewer funds but its better to be safe from the beginning.

 

[joyohis]

Hello,

It says in the IRCC website that the minimum amount of money I'll need to support myself in (Toronto) Canada is 10,000 CAD. I'm going to take a 2-year pogram, that means I'll need at least 20,000 CAD.

Can I only show in my proof of funds via bank statement the minimum 10,000 CAD for the first year only? I don't have another 10,000 CAD for the second year. Will the visa officer reject my study permit application if I didn't also have a 10,000 CAD for my second year stay in Canada?

Thanks.

I applied with the 1st year funds only and im going for a 2 year course as well. I will keep you updated on my visa status. So you can proceed to apply if you want

 

[Azizmustapha]

I applied with the 1st year funds only and im going for a 2 year course as well. I will keep you updated on my visa status. So you can proceed to apply if you want

Thank you. Please keep me updated.

 

[Azizmustapha]

You can definitely apply with 1 year of living expense (i.e., $10,000) + 1 year of tuition fee + any other charges mentioned on the letter. But you will have to somehow show/prove source of second years expenses. On top of that, you'll have to have at least additional $3000 for return ticket. You don't have to mentioned these in any way, they will automatically assume funds.
So, in short, to apply:

1. 1 year tuition fee + 1 year living fee + textbooks / other expenses mentioned on LOA
2. Additional 5,000 ~ 10,000 in funds from #1.
3. Source of money for second year in addition to 1 and 2 above. It could be your sponsors bank statement, fixed deposits etc.

This way, you are proving yourself to be financially stable enough to study & return back to home country without depleting all resources.

They have accepted applications with fewer funds but its better to be safe from the beginning.

Thank you so much for this information.

What if I can't show/prove the source of my second year's expenses?

I am planning to support myself in my second year stay there through part-time job while studying and full-time job during breaks.

I can definitely prove # 1 and 2 but not 3. I don't have the tuition fee for my second year yet but because I'm currently working, I can save at least until the end of February 2021.

Can I ONLY show in my proof of funds all the expenses in year 1 without explaining how I can support myself during year 2? Has this been successful previously?

I hope you can help me answer my question.

Thank you.

 

[Azizmustapha]

I applied with the 1st year funds only and im going for a 2 year course as well. I will keep you updated on my visa status. So you can proceed to apply if you want

Hi. Did you give any explanation in your application on how you will support yourself during your 2nd year stay there?

 

[proceso]

Thank you so much for this information.

What if I can't show/prove the source of my second year's expenses?

I am planning to support myself in my second year stay there through part-time job while studying and full-time job during breaks.

I can definitely prove # 1 and 2 but not 3. I don't have the tuition fee for my second year yet but because I'm currently working, I can save at least until the end of February 2021.

Can I ONLY show in my proof of funds all the expenses in year 1 without explaining how I can support myself during year 2? Has this been successful previously?

I hope you can help me answer my question.

Thank you.

In my opinion, even though you can save money by doing part time and full time jobs, it doesn't look like a strong profile. They may think you may loose focus on studies when you are focused on saving money by doing part time jobs.

The best I can say is, go for a loan, student loan or something

 

[Azizmustapha]

In my opinion, even though you can save money by doing part time and full time jobs, it doesn't look like a strong profile. They may think you may loose focus on studies when you are focused on saving money by doing part time jobs.

The best I can say is, go for a loan, student loan or something

Hi Proceso,

Thank you for your response.

Just for the sake of argument, can an application be successful if the proof of funds ONLY shows all the expenses for my first year of stay there? I'm sure there were cases like this, just don't know if they were successful. I'm planning to take the program in September 2021. I'll have more than enough money to cover all expenses (tuition, rent, etc.,) for both years if I take the program in September 2022. Just don't want to wait that long.

I hope you can help me.

Thanks.

 

[proceso]

Hi Proceso,

Thank you for your response.

Just for the sake of argument, can an application be successful if the proof of funds ONLY shows all the expenses for my first year of stay there? I'm sure there were cases like this, just don't know if they were successful. I'm planning to take the program in September 2021. I'll have more than enough money to cover all expenses (tuition, rent, etc.,) for both years if I take the program in September 2022. Just don't want to wait that long.

I hope you can help me.

Thanks.

But yours is self funded right ? so there's is an uncertainty about the future funds (2nd year expenses). What they are expecting from you is a solid plan for your funds, without that i'm not sure

 

[Petita]

Hello,

It says in the IRCC website that the minimum amount of money I'll need to support myself in (Toronto) Canada is 10,000 CAD. I'm going to take a 2-year pogram, that means I'll need at least 20,000 CAD.

Can I only show in my proof of funds via bank statement the minimum 10,000 CAD for the first year only? I don't have another 10,000 CAD for the second year. Will the visa officer reject my study permit application if I didn't also have a 10,000 CAD for my second year stay in Canada?

Thanks.

Hi, the 10k minimum POF is for living expenses only. You have to add POF for other expenses such as plane ticket, apartment DP, etc. These will be considered esp you will stay in Toronto which is one of the most expensive cities in CA.

 

[Azizmustapha]

But yours is self funded right ? so there's is an uncertainty about the future funds (2nd year expenses). What they are expecting from you is a solid plan for your funds, without that i'm not sure

Hi. Yes it's through self-fund. I haven't applied for a study permit yet. I'm just planning ahead. Just wanted to know if they'll accept an application if I only showed in my proof of funds through bank statement only for all the expenses in my first year. I already have the 1st year tuition, minimum 10k, plane ticket, extra for food and everything. Just not for all the second year expenses. Otherwise I'll have to delay my plan to study and save more money first.

Not really sure how the visa officer will ask me how I'll support myself during my 2nd year. What I do know is that I always find a way. But I obviously can't use that as an argument to the officer.

Thanks. We'll see what happens.

 

[jweekend]

Official regulations is that you must show that you have enough funds to support yourself for your entire stay.

10,000 is the minimum, but that doesn't mean that just showing 10,000 will get you approved.

Obviously if you're going to a city like Toronto or Waterloo no one is going to believe that 10,000 is enough to financially support yourself.

 

[renron]

Hello,

It says in the IRCC website that the minimum amount of money I'll need to support myself in (Toronto) Canada is 10,000 CAD. I'm going to take a 2-year pogram, that means I'll need at least 20,000 CAD.

Can I only show in my proof of funds via bank statement the minimum 10,000 CAD for the first year only? I don't have another 10,000 CAD for the second year. Will the visa officer reject my study permit application if I didn't also have a 10,000 CAD for my second year stay in Canada?

Thanks.

for proof of funds:
IRCC only required you to provide the one-year expenses.
It will be stated by the school thru LOA including board and lodging, transpo, insurance and others.
what is important is you have job and you can provide your salary slip to back up your funds.
if you are not working, you should apply thru SDS, have 10K CAD investment fund plus 1 year expenses.

 

[prospectiveapplicant]

Hi, how is your application going so far?

I'll just leave it here in case someone else is wondering :

After a long wait I just got refused yesterday, non-SDS i got accepted to 2 years M.Eng in UCalgary with total fee is ~CAD$26k, I only show approximately for 1 year ~CAD$27k (this is my only savings btw), obviously this sum of money wouldn't be enough to live in a big city such as Calgary without working.

To show them exactly for 1 year, it would be around : CAD$14k (1st yr tuition) + 10k (1 yr cost of living) = CAD$24k.

And the only single reason the visa officer gave me was this :

Pursuant to paragraph 220(a) of the IRPA, I am not satisfied that you have sufficient and available financial resources, without working in Canada, to pay the tuition fees for the course or program of studies that you intend to pursue.

I might defer my intake and try again next year, makes sense especially during this pandemic, or just pursue somewhere nearby, hahaha

Good luck!

 

[Azizmustapha]

Hi, how is your application going so far?

I'll just leave it here in case someone else is wondering :

After a long wait I just got refused yesterday, non-SDS i got accepted to 2 years M.Eng in UCalgary with total fee is ~CAD$26k, I only show approximately for 1 year ~CAD$27k (this is my only savings btw), obviously this sum of money wouldn't be enough to live in a big city such as Calgary without working.

To show them exactly for 1 year, it would be around : CAD$14k (1st yr tuition) + 10k (1 yr cost of living) = CAD$24k.

And the only single reason the visa officer gave me was this :

Pursuant to paragraph 220(a) of the IRPA, I am not satisfied that you have sufficient and available financial resources, without working in Canada, to pay the tuition fees for the course or program of studies that you intend to pursue.

I might defer my intake and try again next year, makes sense especially during this pandemic, or just pursue somewhere nearby, hahaha

Good luck!

Hello.

Sorry to hear that.

Fortunately, I got my Study Permit application approved last week. My program is also for 2 years. I was only able to show at least the 1st year school fees + 2 years cost of living. Because I currently work and that there is a Co-Op/Internship in my program, I explained in my letter that I can earn more from my current job and in my internship to pay for the 2nd year fees.

If you can do it this way, maybe you can try reapplying again.

Canada's education, I believe, is less expensive than the other English-speaking countries (US, UK, AU and NZ). So maybe it's better to stick with it. If you want to try somewhere else, I heard that Germany's universities/colleges are tuition-free or just pay a small amount of contribution. But you'll of course need to learn to speak German. Or maybe not, I heard you don't have to.

Whatever you decide, I wish you the best of luck.