Proof of finance for Study permit

[HaiNguyen]

Hello everyone,

I am applying for a new study permit to change my Designated Learning Institution (DLI). The IRCC portal asks for information about the total tuition fee, living costs (for all years of study), and my available funds. Do I need to have a bank account with at least the sum of (tuition fee per year + $21,000) multiplied by the number of years of study to meet the financial requirements?

Another question, Should I apply study permit through IRCC secured account or IRCC portal ? Though IRCC recommends to apply through IRCC portal, the form imm1294 in IRCC secured account is easier to fill in.

Thank you in advance for your help.

 

[iamThe-Rick]

Hi,
in your first question, yes you need to show bank statement showing sufficient funds covering the entire program, you can add receipts of fees paying for the new school.

second answer is that, in the new IRCC portal is files limitaions, which all your files should be under 2mb whiles GCKey is 4mb which you can add more relevant files, but advantage for the new portal is, everything is digitized, you just click to fill in information whiles gckey is downloading pdf files before you upload

 

[HaiNguyen]

Hi,
in your first question, yes you need to show bank statement showing sufficient funds covering the entire program, you can add receipts of fees paying for the new school.

second answer is that, in the new IRCC portal is files limitaions, which all your files should be under 2mb whiles GCKey is 4mb which you can add more relevant files, but advantage for the new portal is, everything is digitized, you just click to fill in information whiles gckey is downloading pdf files before you upload

Hi, there is a confusion with the proof of funds. On this Study Permit Assessment website https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/study-permits/assessing-application.html

"For 2024, a single applicant will need to show they have CAN$20,635, in addition to their first year of tuition and travel costs. This change applies to new study permit applications received, on or after January 1, 2024. "

According to that, I only need to prove the first year of tuition and living cost.
However, on the application form, it requires to fill in the information of tuition fee and living cost for the entire study length.

 

[iamThe-Rick]

Hi, there is a confusion with the proof of funds. On this Study Permit Assessment website https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/study-permits/assessing-application.html

According to that, I only need to prove the first year of tuition and living cost.
However, on the application form, it requires to fill in the information of tuition fee and living cost for the entire study length.

To apply for a study permit in Canada, you only need to provide proof of financial support for the first year of your studies if your program is longer than one year. However, you will need to provide information about your tuition and living costs for the entire length of your studies on the application form.

Yes, you need to fill in the tuition fees for the entire program and living cost of the first year, but ideally, it assumes that you must show in the bank statements and payments of tuitions

 

[HaiNguyen]

To apply for a study permit in Canada, you only need to provide proof of financial support for the first year of your studies if your program is longer than one year. However, you will need to provide information about your tuition and living costs for the entire length of your studies on the application form.

Yes, you need to fill in the tuition fees for the entire program and living cost of the first year, but ideally, it assumes that you must show in the bank statements and payments of tuitions

Thank you so much for your advice. I also need to provide information about "funds available for stay in Canada". Does this mean I only need to include the amount of money in my bank account that covers the first year of tuition, travel, and living expenses? Or is it the total sum for all study and living years?

 

[iamThe-Rick]

Thank you so much for your advice. I also need to provide information about "funds available for stay in Canada". Does this mean I only need to include the amount of money in my bank account that covers the first year of tuition, travel, and living expenses? Or is it the total sum for all study and living years?

YES! you need to show the funds for the first year for tuition, travel and living expenses, but it is best if you can show more or excess of the first year funds

 

[HaiNguyen]

YES! you need to show the funds for the first year for tuition, travel and living expenses, but it is best if you can show more or excess of the first year funds

Hi, Rick.
I really appreciate your help. I have one more concern, and I hope you can help with it. My Canadian bank account didn't have enough money to cover one year of tuition and living costs, so I transferred money from other sources into it today to ensure I have enough funds. Will IRCC accept the sudden change in my bank account?

 

[Han.nah]

Thank you so much for your advice. I also need to provide information about "funds available for stay in Canada". Does this mean I only need to include the amount of money in my bank account that covers the first year of tuition, travel, and living expenses? Or is it the total sum for all study and living years?

I think the total funds available should be amount in savings books + paid amounts (tuition, insurance, accommodation, etc)

 

[HaiNguyen]

I think the total funds available should be amount in savings books + paid amounts (tuition, insurance, accommodation, etc)

Hi Han nah, did you mean for all years or one year ?

 

[Han.nah]

Hi Han nah, did you mean for all years or one year ?

Hai ơi, bạn đang khai câu hỏi số 4 trong section DETAILS OF INTENDED STUDY IN CANADA, form IMM1294 đúng không? Nếu vậy, bạn khai như sau nhé"

- Tuition: Khai như số tiền ghi trên LOA [khóa nào có LOA thì khai, khóa chưa học, chưa có LOA (ví dụ pathway hay package) thì chưa cộng tuition vào đây]
- Room and board: Khai theo thời gian học ghi trên LOA. Ví dụ khóa Diploma 2 năm thì khai $20,635 x 2 năm, khóa bachelor 3 năm thì khai $20,635 x 3 năm. Khóa nào 1 năm rưỡi thì = $20,635/12 tháng x 18 tháng (tính chi phí sinh hoạt 1 tháng rồi nhân với số tháng học ở Ca theo đúng LOA, kiểu kiểu vậy)
- Other: Bạn cộng tiền vé máy bay + chi phí linh tinh khác, tối thiểu khoảng $2,000/năm
- Funds available: = tổng số tiền trong sổ tiết kiệm + tiền đã đóng (ví dụ: học phí, bảo hiểm, nhà ở...)

Hope this would help!

Good luck!

 

[HaiNguyen]

Hai ơi, bạn đang khai câu hỏi số 4 trong section DETAILS OF INTENDED STUDY IN CANADA, form IMM1294 đúng không? Nếu vậy, bạn khai như sau nhé"

- Tuition: Khai như số tiền ghi trên LOA [khóa nào có LOA thì khai, khóa chưa học, chưa có LOA (ví dụ pathway hay package) thì chưa cộng tuition vào đây]
- Room and board: Khai theo thời gian học ghi trên LOA. Ví dụ khóa Diploma 2 năm thì khai $20,635 x 2 năm, khóa bachelor 3 năm thì khai $20,635 x 3 năm. Khóa nào 1 năm rưỡi thì = $20,635/12 tháng x 18 tháng (tính chi phí sinh hoạt 1 tháng rồi nhân với số tháng học ở Ca theo đúng LOA, kiểu kiểu vậy)
- Other: Bạn cộng tiền vé máy bay + chi phí linh tinh khác, tối thiểu khoảng $2,000/năm
- Funds available: = tổng số tiền trong sổ tiết kiệm + tiền đã đóng (ví dụ: học phí, bảo hiểm, nhà ở...)

Hope this would help!

Good luck!

hi, cám ơn bạn đã reply nhé. Bạn có thể cho biết funds available bao nhiêu thìđủ không nhỉ? Mình biết là càng nhiều càng tốt, nhưng bạn có thể cho biết ít nhất là bao nhiêu ?

 

[Han.nah]

hi, cám ơn bạn đã reply nhé. Bạn có thể cho biết funds available bao nhiêu thìđủ không nhỉ? Mình biết là càng nhiều càng tốt, nhưng bạn có thể cho biết ít nhất là bao nhiêu ?

Hai tham khảo ở đây: https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents/financial-support.html

Bạn có agent tư vấn chuẩn bị hs không? Bên agent họ có knghiem họ tv cho nhé

Về funds thì chắc ý bạn hỏi STK?

Bạn nộp diện gì? STK bao nhiêu rồi? Pay housing chưa?

Ko phải STK càng cao càng tốt đâu, phải dựa trên nguồn thu nhập của người tài trợ cho bạn nhé (cv, kinh doanh, cho thuê nhà, bán tsan...)

Rgds