Canada is a top study destination for Nigerians, issuing nearly 37,630 study permits in just the first half of 2023 and is expected to issue 360,000 study permits to international students in 2024. It’s no surprise that Canada ranks among the top five countries worldwide for higher education, making it highly sought after by Nigerian students, alongside the UK and the US. In this guide, we’ll break down the process of applying for a Canadian student visa from Nigeria, including the essential financial requirements—most importantly, the minimum bank balance for a Canada student visa.
Table of Contents
- What Is a Study Permit in Canada?
- How to Get a Student Visa in Canada?
- Financial Requirements for a Canada Student Visa
- Minimum Bank Balance for Canada Student Visa for Nigerian Students
- How to Calculate Proof of Funds for Canada Student Visa
- Bank Balance for Canada Student Visa in Quebec and Outside of Quebec
- Eligible Sources of Funds for Canada Student Visa
- Proving Your Financial Support
- Additional FAQs
- Conclusion
What Is a Study Permit in Canada?
A Canadian study permit is an essential document that allows international students to study at approved institutions in Canada. Issued by the Canadian government, it enables enrollment in programs lasting longer than six months at Designated Learning Institutions (DLIs). Without a study permit, you can’t pursue a full degree, professional course, or vocational training in Canada.
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How to Get a Student Visa in Canada
A student visa, or study permit, requires several steps for Nigerian applicants:
- Secure admission from a Designated Learning Institution (DLI).
- Gather necessary documentation.
- Submit an online or in-person application.
- Pay the application fee.
- Provide biometrics.
- Attend an interview if requested.
- Await processing.
- Receive the study permit upon approval.
Financial Requirements
To get a Canadian study permit, you need to show proof of sufficient financial resources for tuition, living expenses, and return travel for yourself and any family members accompanying you. The amount varies based on your program’s length, location, and number of dependents.
Minimum Bank Balance for Canada Student Visa for Nigerian Students
For a Canada student visa, Nigerian students need to show a minimum bank balance of CAD 10,000. However, this is only the baseline; applicants should also provide proof of funds for one year’s tuition. With an average tuition fee of CAD 15,000, it’s wise to present at least CAD 25,000 in total as your bank statement requirement. Ensuring adequate funds can reduce the risk of visa rejection.
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How to Calculate Proof of Funds for Canada Student Visa
The required proof of funds combines tuition and living expenses. On average:
- Tuition: CAD 15,000
- Living Expenses: CAD 10,000
- Total Minimum Bank Balance: CAD 25,000
Bank Balance for Canada Student Visa in Quebec and Outside of Quebec
Bank Balance Requirements in Quebec
The minimum funds required differ in Quebec due to local regulations:
| Persons Coming to Canada | Proof of Funds (Yearly) | Proof of Funds (Monthly) |
|---|---|---|
| 1 person under 18 | CAD 6,569 | CAD 547 |
| 1 person 18 or older | CAD 13,134 | CAD 1,095 |
| 2 people 18 or older | CAD 19,264 | CAD 1,605 |
| 2 people, one under 18 | CAD 21,579 | CAD 1,798 |
Bank Balance Requirements Outside of Quebec
| Persons Coming to Canada | Proof of Funds (Yearly) | Proof of Funds (Monthly) |
|---|---|---|
| Applicant only | CAD 10,000 | CAD 833 |
| First family member | CAD 4,000 | CAD 333 |
| Each additional family member | CAD 3,000 | CAD 255 |
Eligible Sources of Funds
The funds shown must be verifiable, coming from sources like:
- Personal or business income
- Investment income
- Personal assets
- Guaranteed Investment Certificates from Canadian institutions
- Bank statements for the last four months
- Proof of a Canadian bank account in your name
- A bank draft in Canadian dollars
Proving Your Financial Support
You can substantiate your financial support through:
- Recent bank statements
- A Canadian bank account in your name
- Bank drafts
- Proof of paid tuition and housing
- Official letters from financial sponsors
FAQs
What is the minimum bank balance for a Canada student visa from Nigeria?
To fulfill Canada’s requirements, you need to show a minimum balance of CAD 10,000 for living expenses, plus tuition fees for one year.
How many months of bank statements are required?
You’ll need at least three months of transaction history.
How does Canada verify proof of funds?
Canadian immigration authorities verify funds through direct communication with your bank. Border officers may request updated proof upon arrival.
Is it possible to study in Canada without a bank statement?
No, a verified bank statement is essential for proving financial capacity.
Conclusion
Securing a Canada student visa requires a comprehensive understanding of financial obligations and proper documentation. The minimum bank balance requirement varies slightly based on the province, type of institution, and your personal circumstances. Canadian immigration laws are regularly updated, so stay informed to meet all criteria effectively. Best of luck with your application!
