Canada is the most popular foreign student destination

Key aspects about studying in Canada

• Canada is considered as one of the most popular foreign student destinations across the world
• Study permits have a high approval rate in Canada
• The Council of Ministers of Education of Canada (CMEC) provides an online tool to swiftly measure the study expenses
• IELTS is not mandatory to apply for study visa within Canada
• Canadian study visa offers openwork permit for the spouses

Overview:

Even though studying abroad can be very expensive, Canada has been a home country offering affordable education to millions of students compared to other countries.

It is essential to keep a tab on your budget considering factors in the expenses, such as, food, health, housing, travel, and health insurance along with your tuition charge as this will help plan your trip easily.

*Check your eligibility criteria with the help of the Y-Axis Canada Immigration Points Calculator instantly for free.

What makes Canada a top study destination?

Canada is well-known for its natural beauty, ethnic towns, and large stretches of land.

It is considered as one of the most popular foreign student destinations across the world as it offers a wide variety of experiences, opportunities, and possibilities.

Even while studying abroad can be very expensive, Canada has been a home country offers affordable education to millions of students compared to other countries.

It is essential to keep a tab on your budget considering factors in the expenses, such as, food, health, housing, travel, and health insurance along with your tuition charge as this will help plan your trip easily.

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Cost of living across Canada

The overseas students are allowed to use an online tool that is provided by the Council of Ministers of Education of Canada (CMEC), to swiftly measure the study expenses at different universities of Canada as well as assist the students in the paperwork that is necessary to apply.

The cost of living across Canada is based on multiple factors such as;

• Study permit fees
• IELTS exam fees
• Work permit fees
• Flight expenses
• Travel costs
• Accommodation
• Food
• Health Insurance
• Entertainment
• Books
• Stationery
• Library Membership

A few other utilities and personal expenses such as electricity, water, phone, and internet charges are to the total Canadian cost of living as additional living expenses.

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Here are a few more primary factors that you need to know:

• Canada takes pride in its cross-continent highway system that extends to the furthest reaches of the United States. Although both long and short-distance travel is extremely expensive in Canada, the students choose to travel by bus, rail, or subway.

• Most of the universities provide accommodations to the students on-campus choosing between townhouses and dormitories. Also, there is an option to reside off-campus where students are free to make housing choices such as, single apartments, shared apartments, homestays, host family living, and condominiums.
• The cost of renting an apartment or a room, may range from CAD 5,000 to CAD 10,000 on yearly basis based on the style of the apartment or room. Besides, the cost of residence may be higher in other cities such as Montreal and Toronto.

• Whereas, medical insurance is mandatory for the students in Canada, it is included in the final cost of study in the estimations of Canada and based on the chosen type of coverage, the total cost of insurance may range between CAD 300 to CAD 800 each year

Eligibility to apply for Canada student visa

The students who are willing to apply to any Canadian university must hold a study permit in Canada, as it is vitally important professional or academic training especially for those students whose course will last longer than a period of six months.

The students can renew their study permit within Canada, if they wish to continue their studies as the study permit will authorize them as full-time students who are enrolled in an education institution that is highly reputed.

This also allows the students to work part-time on campus helping them participate in an internship or co-op as a part of their degree and provides an opportunity to find work after graduation or helps them become a permanent resident in Canada.

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The student visa in Canada costs up to 150 CAD and the application costs are decided based on the nationality of the student as well as the university they choose to apply. It is necessary for the students to present the evidence of the money along with the admission letter and other required documents with a minimum bank balance of CAD 10,000 to apply for a Canadian student visa each year.

To prove that the students have sufficient money, they must provide any of the following documents:

• Bank statements
• Proof of a Canadian account (if the money was transferred in their name)
• A bank draft in convertible currency
• Evidence of tuition and accommodation fee payment
• A letter from a university or person providing you the money
• Proof of funding (Paid from within Canada if you are enrolled in Canadian-funded programme or have a scholarship)

Ways to save money in Canada

There are many students who have received favor in terms of scholarship as it offers concessions and many other advantages, helping the international students in lowering their cost of living while residing in Canada based on their academic achievements, projected skills, or merits. It is integral for the students to check their eligibility requirements before applying for scholarship.

• Some of the scholarships that are made available to the students in Canada are:

• President's Scholarship for World Leaders
• Graduate Fellowship at the University of Manitoba (UMGF)
• Lester B. Pearson International Scholarship Program

• Another option for students to save money is by claiming banking discounts. They can make use of all the student banking services offered by the five major banks in Canada
• All the necessary materialistic things can be bought from the second-hand market places to keep a tight grip on budget. It is advised not to use credit cards or make use of all the freebies made available on campus, keeping in mind that the university may give out many of these, particularly in the beginning of the semester

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Students must pay taxes while residing in Canada

The international students must file income tax returns depending on their residency status. Filing taxes can offer few benefits for international students who do not earn a living in Canada, such as, Child Tax Benefit, the ability to claim refund, and GST credits whereas, the earning students must file an income tax return through research assistantships, teaching, investments, and Canadian employments. It is mandatory for the international students to record their earnings.

*For more information, check out the Y-Axis blog page…

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