Funds to Apply for a Canadian Study Permit from Nigeria

Proof of funds is crucial in the application of a Canadian Study Permit. Your ch

ances of success relays greatly on your ability to support yourself when you arr
ive in Canada. Most times, it is difficult to determine exactly how much funds y
ou are required to show for a study permit application. Here are your rule of th
umb ;
If the duration of your studies in Canada will be less than a year, proof of fin
ancial support for the duration of your studies in Canada.
If the duration of your studies in Canada will be more than one year, proof of f
inancial support for the first year of your studies in Canada.
Please note, proof of funds should not only be for your tuition. It should also
include your cost of living i.e accommodation, feeding, transportation and maint
enance, including the cost of books, equipment, and supplies e.t.c. As an exampl
e, if your tuition fees is $15,000 for your first year, and estimated cost of li
ving is about $11,000, you will need to show a total of $26,000 to support your
application for your study permit.
In assessing your financial status, the immigration officer will look for the fo
llowing;
Availability for your first year of studies or duration of studies
Probability of future funding if your program of study is more than one year e.g
parents or sponsor s employment status
Length of scholarship if funding is through scholarship
Officers may take into consideration such sources of funds derived through schol
arships, fellowships, assistantships and the like, as well as financial support
or support in kind that may be available from relatives in Canada.
Acceptable proof of fund is bank statements in your name or parent or sponsor or
spouse. Bank statements provided could be for the following types of accounts a
nd investments
Checking Accounts
Savings Accounts
GICs
Mutual Funds
Pension Statements
Term Deposit and any other cashable investment
Not Acceptable proof of funds include
Property Valuation
Vehicle Valuation
Jewellery valuation
Please note, if you are receiving financial of support from anyone other than yo
urself, it is advisable that your sponsor or sponsors provide an affidavit of s
upport.
An affidavit of Support is a written statement confirmed by oath or affirmation
at a court testifying that the sponsor can and will sponsor you during your stud
y in Canada. typically, the document includes the following;
1. Introduction of sponsor
2. Relationship of sponsor to applicant
3. Reason for the Affidavit
4. A statement of responsibility of all financial requirement during the program
of study

5. A list of all relevant sources of income to support the above statement

If you require more assistance to determine the total cost of your Canadian educ
ation, feel free to contact me.