Canadian Student Visa Requirements for Students (2024)

The number of foreign students coming to Canada for its high-quality education is on the rise. In 2022, Canada welcomed a record of 551,405 international students from 184 countries. In addition, as of the end of 2022 there were 807,750 international students holding valid Canadian study permits. Both of these were all time high numbers.

However, the Canadian government is making it harder for higher education students to come to Canada on a Canada student visa. As of January 1, 2024, Immigration Refugees and Citizenship Canada (IRCC) has raised the cost-of-living requirement for single study permit applicant from $10,000 to more than double at $20,635

The requirement for proof of sufficient funds which shows that the students and their family members from their home country can support the living expenses , tuition fees and still have enough money left to maintain a reasonable cost of living has become more stringent for 2024. 

It is absolutely crucial not to be blindsided by the total amount of money that will be required to cover the financial requirements , travel costs , travel expenses, living costs for applying for a Canadian study permit. As a foreign student at a Canadian University ,in the initial months you should also be mindful of the cost-of-living threshold. 

If you are a resident of one of the following countries you are eligible for a quicker study permit called Student Direct Stream which can be processed as early as 20 days

• Antigua and Barbuda
• Brazil
• China
• Colombia
• Costa Rica
• India
• Morocco
• Pakistan
• Peru
• Philippines
• Senegal
• Saint Vincent and the Grenadines
• Trinidad and Tobago
• Vietnam

Applying for a Canada Study Permit (SDS) – A 10 Step guide

1. Get your letter of acceptance from the Canadian educational institution 
2. Establish your financial capacity and get proof of funding for your first year of tuition. This could be any of the below
   1. a receipt from the DLI
   2. an official letter from the DLI confirming payment of tuition fees
   3. a receipt from a bank showing that tuition fees have been paid to the DLI
   4. proof that the tuition fee amount has been transferred into a repository account at the DLI to be applied to the tuition bill at a later date
3. Contact your local financial institutions for bank statements which will serve as a proof of financial support and to prove that you have enough funds.
   1. You can also consider using a Loan Certificates as Proof: Loan Capability Certificate is issued by banks and financial institutions  to students if they are willing to give them loans on the condition that they receive admission to a university abroad
4. If you are securing a education loan from your home country to fund your tuition fee and GIC, make sure you have a loan approval letter. You can explore Canadian financial institutions who offer newcomer banking
5. Open a Canadian bank account (student/investment account) under which you can then buy a Guaranteed Investment Certificate (GIC)
6. Understand how much moneyyou need to put in the GIC. It varies on the province where you will be studying
   1. For students applying to any province except Quebec – $20,635 Canadian Dollars
   2. For students applying to study in Quebec – please refer here 
7. Prove you have enough moneyto pay for
   • your tuition fees
   • living expenses for yourself and any family members who come with you to Canada and
   • return transportation for yourself and any family members who come with you to Canada
8. Obey the law, have no criminal record and get a police certificate (if required)
9. Are in good health and get a medical exam (if required) and
10. Prove to an immigration officer or visa officer that you will leave Canada when your study permit expires

Canada provides excellent work opportunities for international students, both during their studies and after graduation. While being a student, its a good time to understand the cultural nuance and etiquette of being in Canada.