If you have a family, like a spouse or dependent children, and you receive admission to study in Canada, you are allowed to bring your family with you.

This means that if you are married or have children, they can accompany you to Canada while you pursue your education.

Canada is among the countries that allow international students to bring their families with them to the country on a student visa.

However, before you are issued a visa and are allowed to come to Canada with your family, you need to fulfil all the visa requirements for yourself and your family.

Read also: Can I renew my Australian tourist visa before it expires?

One of the most important requirements you need to fulfil is providing proof of funds.

In Canada and many other countries, before you are allowed to come study as an international student, need to provide proof that you can fund your studies.

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Canada isn’t ready to accept you if you have no means of sponsoring yourself when you arrive in the country.

And as someone coming to Canada with his family, you need extra money in your proof of funds, the amount you need is higher because you are not coming alone.

If you are wondering how you can provide proof of funds for your Canada student visa with your family, use any of the ways below.

Why presenting proof of funds is important?

The Canadian government mandate every international student to demonstrate that they have enough money to support themselves and their family members (for those who are coming with their family) during their stay in Canada.

Read also: Can I renew my Australian tourist visa before it expires?

They do this to ensure that every international student who is coming to the country to study can cover their tuition fees, living expenses, and other costs without relying on public funds in Canada.

How to show proof of funds for a Canada student visa with my family

To show proof of funds for your Canada student visa with your family, you can use your bank statement showing money spent over time, letters from scholarship providers (if you are on scholarship) stating how much you get and for how long, and proof of paying your tuition if you already did.

Also, you can add papers for cash or other things you can turn into cash quickly.

Below are acceptable ways to show proof of funds for your Canada student visa if you are going with your family.

• You can provide evidence of liquid assets

Liquid assets refer to funds that you can easily convert to cash within a short period.

They include:

• Cash: Physical currency that you possess, such as Canadian dollars or any other major currency.
• Bank Drafts: Also known as banker’s drafts, these are prepaid instruments issued by a bank that guarantees payment to a specified recipient.
• Money Orders: Similar to bank drafts, money orders are prepaid instruments issued by financial institutions or postal services for a specific amount.
• Certificates of Deposit (CDs): These are time deposits offered by banks or credit unions that earn interest over a specified period. You can redeem CDs before maturity which makes them a liquid asset.

If you are using liquid assets as proof of funds, you need to make sure that you have your bank statement, receipts for your cash transactions, and official certificates for bank drafts, money orders, or CDs.

Read also: What are the requirements for a student visa in Canada from Nigeria? 

Every document that will support your case will be helpful.

• You can use your bank statements as proof of funds

If you have enough money for your fees in your account whether it’s in your local bank account or an international account, you can provide evidence of the money as proof of funds.

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Here’s what you need to know:

• Content: The bank statements should show your name or be jointly held with your family members if they are contributing funds. They should also display a clear record of transactions and account balances.
• Consistency: The immigration authorities look for a stable financial history, so make sure that your bank statements reflect regular deposits and withdrawals, with no suspicious or irregular activities.
• Currency and Conversion: If your funds are in a different currency, you need to provide statements that clearly show the equivalent amount in Canadian dollars based on the most recent exchange rates.

• You can use evidence of scholarships and grants

If you have been awarded scholarships or grants to study in Canada, you can use it as proof of funds for your Canada student visa with your family.

Read also: How to apply for the Chevening Scholarship in Nigeria

You’ll need official letters from the scholarship or grant providers.

The letter should specify

• the amount they are paying you
• duration of the funding.

Here’s what you should include:

The letter should be on the letterhead of the scholarship/grant provider.

It should include their details like the name of the recipient, the amount awarded, the duration of the funding, and any specific conditions or requirements.

After submitting the letter, the immigration authorities will verify the authenticity of the scholarship/grant.

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They will reach out to the scholarship providers to enquire about the scholarship – so make sure you provide the correct contact details of the scholarship/grant providers.

• Guaranteed Investment Certificate (GIC)

A Guaranteed Investment Certificate (GIC) is a financial product offered by Canadian financial institutions to international students.

Here’s what you need to know about using a GIC for proof of funds:

• You will provide proof of purchase: If you purchased a GIC, you must provide documents to prove that you have purchased a GIC from an approved Canadian financial institution.
• You need to provide the GIC Certificate: Include the GIC certificate – the certificate should show the terms of the investment, the amount deposited, interest rate, maturity date, and withdrawal conditions.
• Your GIC must comply with Canadian government requirements: Make sure that your GIC program meets the requirements set by the Canadian government for international students.

• You can present proof of tuition payment as proof of funds

If you have already paid your tuition fees, you need to upload the receipt or confirmation letter to your student visa application.

Read also: Can I apply for express entry while studying in Canada?

Here’s what to include:

• Receipt or Confirmation of Payment: Upload a copy of the receipt or confirmation of payment showing the amount you paid, your program of study, and the semester or academic year covered by the payment.

The receipt should be official and include the contact information of your school in Canada.

• You can use loan documents as proof of funds

If you have taken a loan to fund your studies, provide the following documents:

• The loan approval letter: This is a letter from the lender confirming approval of the loan amount, terms of repayment, and any other relevant details.
• Terms of the Loan: You should also include the terms of the loan – the interest rate, repayment schedule, and any collateral or guarantors involved.

Make sure that all loan documents are official and clearly state the details of the loan agreement – that is the only way to satisfy the visa requirements.

If you are an international student who has been offered admission to study in Canada and you are entering Canada with your family, you can use any of these ways to provide proof of funds for your student visa.

How much funds do I need to show for a Canada student visa?

The amount you need to show for proof of funds is CAD 25,920 for yourself, CAD 7,833 for your spouse, and an additional CAD 3,378 for each dependent child.

The total amount will be determined by how many persons are following you to Canada.

When providing any documents as proof of funds, make sure that the documents are accurate, up-to-date, and in the required format specified by the Canadian visa office.

If your documents are not in English or French, you need to provide certified translations.

Proving that you are capable of sponsoring your studies in Canada is the only way you will get your student visa application approved.

Read also: How do I know if my visa is rejected?

If you are coming to Canada to study with your family, you need a higher amount as proof of funds.

The higher the number of dependant family members coming with you to Canada, the higher the amount you need as proof of funds.