If you are planning on travelling with your entire family, which includes a total of three (3) persons, you will need to have sufficient funds to finance your tuition and living expenses. The Immigration, Refugees and Citizenship Canada (IRCC) has advised that you show at least one (1) year worth of financing for your tuition and living expenses, which is CAN $10,000 for your living expenses plus your tuition that is stipulated in the acceptance letter. You will also need to show an additional CAN $4000 for your first family member and CAN $3000 for each additional family member. If your tuition fee is CAN $15,000 per year, the total amount that you will need to show is CAN $10,000 for living expenses, CAN $15,000 for tuition fee, CAN 4000 the first family member. Therefore, the total amount that should be on your bank statement is approximately CAN $32,000. It will be a plus if you show more money than what is required on the IRCC website. Please note that if you’re travelling with your family members, it is not advised to rely on someone to sponsor your full tuition and living expenses, especially due to the fact that your immediate family members are travelling with you. The visa officer will be curious. This is made worse if the sponsor is an extended family member like a cousin or a grand-aunt. Why would your cousin take up CAD $32,000 and give it to you to take your immediate family with you to Canada? It is recommended that even though you are using a sponsor, it is always best to have some personal savings of your own.
Advantage of travelling with your family during your studying in Canada
The advantage of travelling with your family is that if your spouse is coming along with you, he or she can apply for an open work permit to find a job in Canada to help alleviate some of your educational expenses while you are studying.
The disadvantage of travelling with your family while you are studying in Canada
You will need to show more money on your bank statement if you are taking your family with you while you are studying. The visa officer will want to know that funds are readily available to pay for your tuition and living expenses for yourself and any additional family member accompanying you. Therefore, if you do not have the money to take your entire family, it is best to leave your family and travel alone.