The Canadian government needs to ensure that international students have the financial ability to cover the costs of living and studying in this country. Financial ability is proven by submitting documents such as bank statement, sponsorship letter or scholarship to the Immigration Department (IRCC). These documents show that you can afford tuition, living expenses and other expenses.
Calculation of financial resources:
Financial means include the total of the first year’s tuition, living expenses, dependents’ expenses and miscellaneous expenses. For example, a single student needs a minimum of $20,635 CAD (without tuition) and $25,690 for a couple.
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