Canada study abroad deposit and guarantor requirements

In order to make plans for studying abroad as soon as possible, many students and parents are very concerned about the amount of Canadian study guarantee that must be paid before studying abroad. So what are the requirements for deposits and guarantors when studying in Canada? Come and have a look with us.

Canadian deposit requirements for studying abroad

I. Deposit Time

In principle, Canada requires that the deposit should state the history of 12 months. Many parents think that the deposit must be a one-year fixed deposit, which is the most common misunderstanding of many parents. Canada requires that the deposit should state the history of 12 months, and one-year time deposit is the simplest way to prove it.

There are many ways to explain the history of security fund 12, such as students and parents holding stocks, bonds, funds and real estate for more than one year (including one year), opening a clearing account, or holding financial products with stable income for more than one year (including one year), and issuing relevant asset certificates. It can also be used to explain the history of guarantee fund1February.

Second, the amount requirements

To study in Canada, the requirement of visa deposit is reasonable. The funding requirements for each academic stage are as follows:

1. To apply for a Canadian high school study visa, the guarantee fund needs to be about 600,000-800,000 RMB;

2. Apply for Canadian community college or junior college courses, and the guarantee fee is about 300,000-450,000 RMB;

3. Apply for undergraduate study in Canadian universities and provide a deposit of about 300,000-400,000 RMB;

4. Canadian graduate students studying abroad require a visa guarantee of about 300,000.

Canada's study abroad guarantee is not only limited in amount, but also limited in deposit period. Proof of funds for studying in Canada is very important for visa application. Applicants must provide 12 months' accumulated capital history to prove that they have enough financial ability to pay all the expenses during their study abroad. According to the special circumstances of some students, the amount of the deposit can also fluctuate. As long as families have enough income, it is not difficult to cross the threshold of Canadian deposit history.

Requirements of Canada's study abroad deposit for guarantor

When the economic development loan guarantor goes to study in Canada, he must present the economic development guarantee, and indicate that the loan guarantor will pay all the expenses of the insured during his study in Canada, and the time and amount of the loan guarantee are not limited. In addition, the loan guarantor should indicate in the guarantee whether he has provided loans for other students to study abroad in the past five years. The guarantee must be fair and written in English or French. If the full text is in other languages (including Chinese), English or French translations provided by translation agencies are required.

The loan guarantor needs the following details:

1. For loan guarantors who have settled in New Zealand, the Embassy only accepts the t-452 tax bill examined and signed by the Australian national tax department or the t-4 payroll provided by the loan guarantor's employer.

2. The loan guarantor who has settled abroad must provide the original (or copy) of the w-2 payroll provided by the employer and a copy of the recent tax bill. The form 1- 134 of the US Immigration Bureau cannot be used as a guarantee for the economic development of studying in Canada.

3. The loan guarantor who has settled in other countries and regions must ensure the original or fair copy of his tax bill.

In addition to the letter of guarantee, the personal income certificate of the loan guarantor must be attached, which can only be the guarantor's salary slip or tax payment slip, and no deposit certificate or other proof of funds is accepted.

Precautions for studying abroad deposits in Canada

According to the regulations given by the Canadian Immigration Bureau, the Canadian study abroad deposit needs to be frozen for at least one year and three months. During this period, you can deposit money in the bank, but you can't spend a lot. Moreover, to study in Canada, the deposit must be at least 600,000 yuan, and there must be a date on the 600,000 passbook or the upward flow of funds provided. In other words, when the Immigration Bureau receives your application for trial, it will first check whether your deposit date is one year and three months ago. In other words, as long as you save enough money for one year and three months, you can basically control it at will and get it back. Need to be reminded that this deposit does not have to exist in a bank or the same passbook and bank card, but the total amount must be above 600,000. As for whether the deposit is in your parents' name or in your own name, it's all right.

Many people in life think that the more guarantee money for studying in Canada, the better. Actually, it's not. Generally, you only need to meet the basic needs of studying in Canada. If it exceeds the total cost of studying in Canada, the visa officer may doubt the source of students' funds, so students need to provide more proof of funds. However, just in case, you'd better provide proof of funds matching the guarantee, such as long-term deposit history and source, bank running bill, employment certificate of economic guarantor, income certificate, etc. If you prepare more funds, but your historical record is not good, or you can't tell where the funds come from, you will still be easily rejected.