Minimum Bank Balance for Student Visa

  Minimum Bank Balance for Student Visa International students frequently discuss the required minimum bank balance for a student visa. Many...

 

Minimum Bank Balance for Student Visa

International students frequently discuss the required minimum bank balance for a student visa. Many students don't know the minimum balance is required and discover too late that their account doesn't have it. We'll break down the required bank balance for a student visa in this blog article and offer some advice on how to accomplish so. Remain tuned!

One of the most crucial things you'll need to get in order to study in Canada as an international student is a student visa. Also, you'll need to demonstrate that you have the financial means to pay for your study as well as living expenses in order for your student visa to be authorized. So, what is the bare minimum that an international student must show as proof of funds?

Key #1: Choose the Correct Program

In order to satisfy the proof of money criteria for your student visa as an international student, it's critical that you pick the best programme for your financial situation. You must conduct thorough study to choose the programme that best meets your needs because there are many options accessible. The cost of living in the nation where the programme is located should also be taken into account because it might significantly affect your overall expenses. You can make sure you have the money needed to secure your student visa and start your studies abroad by carefully choosing the suitable programme and making an appropriate budget. The typical tuition cost for a one-year programme is around 16,500CAD.

Key#2 Select the LOCATION PROGRAM 

The cost of living is one of the most crucial variables to think about as an international student when selecting a destination to study. Although there is some truth to the rumour that Vancouver is an expensive city, if you know where to look, you may still find reasonable housing and living expenses. When it comes to rent and food, for instance, Prince George's is frequently less expensive than Vancouver. While choosing your choice, it's crucial to take your whole budget into account. In terms of work prospects and availability to facilities, Vancouver might be your best option if you can afford to live there. Prince George might be a better choice, though, if money is tight. Your unique situation and your goals for your study abroad experience will ultimately determine the best location for you.

Key#3 Decide whether you go alone or with your Family

There are a few considerations you should make if you're an international student wanting to bring your family to Canada. You must first prove that you have the financial means to maintain your complete family. This implies that you will require far stronger proof of cash than if you were travelling alone. You must also determine whether you will send for your family later or whether you will arrive first and then send for everyone else. If money is tight, it can be advisable to take care of business first and then look for work so you can provide for your family. Whatever you choose, be sure to take the time to prepare in advance to ensure that everyone involved has a smooth transition. According to IRCC, you must present 10,000CAD for a single application, 4,000CAD more for your spouse, and 3,000CAD more for any child you intend to bring to Canada.