Canada is a top destination for international students, offering world-class education, cultural diversity, and excellent Graduation and post-graduation opportunities. For many students applying under the Student Direct Stream (SDS), purchasing a Guaranteed Investment Certificate (GIC) is a mandatory requirement. However, from 8th November 2024 Canada closed its Student Direct Stream (SDS) Program. This guide explains how you can study in Canada as an international student without GIC under the Non-SDS program and help pursue your Canadian education dreams.
Students can still pursue their dream of studying in Canada without GIC by applying for a non-SDS or using the regular study permit application process. The non-SDS category is more flexible and affordable, as you do not need to pay a full year’s tuition fees upfront. However, students still need to meet the standardized requirements, such as providing proof of funds and an acceptance letter from a Designated Learning Institution.
What Is a GIC?
A Guaranteed Investment Certificate (GIC) is a financial instrument that demonstrates a student’s ability to fund their living expenses in Canada. As part of the SDS, students must purchase a GIC worth CAD 20,635 from a Canadian financial institution. The amount is returned in installments during the first year of study to cover living costs
What is the Non-SDS Visa Program?
The Non-SDS Visa category can help students secure study visas with a standardized visa application process.
Requirements of Non-SDS Visa program for 2024
Passport – A valid passport is required for the student visa application.
Tuition Fee – Proof of payment for six months of tuition fees is required rather than a fixed amount of CAD 20,635 in the GIC account.
Medical Examination – A medical examination report is required from a certified doctor
Educational Documents – Academic transcripts and certificates including 10th, 12th, graduation, or diploma certificates are required.
Passport size photograph – Recent passport-sized digital photographs with specific dimensions are required.
Statement of Purpose – A compelling statement of purpose is required that explains why you chose Canada and the selected course.
Financial Documents – Proof of financial stability through documents such as Bank Statements, Fixed Deposits, and Income tax Returns need to be provided.
How to Study in Canada Without a GIC
Apply Under the Non-SDS Category
The Non SDS category unlike the SDS stream does not require a GIC. However, students need to provide financial documentation, such as:
Bank Statements: Demonstrating adequate funds to cover tuition and living expenses.
Proof of Income: Income certificates or salary slips of your financial sponsor.
Demonstrate Financial Sufficiency
Students must prove they have sufficient funds to cover:
Tuition Fees: For 6 months of study upfront.
Secure a Scholarship or Sponsorship
Winning a scholarship or sponsorship from your home country, a Canadian institution, or an international organization can demonstrate your ability to support yourself without a GIC.
Explore Institutional Support Programs
Some Canadian institutions offer financial aid, loans, or installment payment plans. Check with your chosen university or college to see if they have such options. An experienced study abroad consultant like IIE Education can help you with this.
Family Member Sponsorship
If you have relatives in Canada, they can sponsor your stay by providing proof of their financial capacity to support you.
Advantages for applying for study without GIC
Flexibility in Financial Arrangements: Studying without a GIC allows students to explore various financial options, such as scholarships, sponsorships, or installment plans, rather than committing to a single, upfront investment.
No Upfront CAD 20,635 Deposit Requirement: For many students, gathering the CAD 20,635 required for a GIC can be challenging. Without this requirement, students can use existing savings or alternative funding sources to meet their financial obligations.
Broader Eligibility Criteria for Study Permits: The Non-SDS Category has fewer restrictions compared to the SDS, making it accessible to students who may not meet SDS criteria, such as those with lower language test scores or varying financial circumstances.
Important Tips for a Successful Application
Provide comprehensive documents: Ensure all financial documents are clear, credible, and complete.
Write a Strong SOP: A compelling Statement of Purpose (SOP) can explain your financial situation and commitment to studying in Canada.
Work with an Expert: Consulting with visa experts like IIE Education can significantly increase your chances of approval by ensuring your application meets all requirements.
Apply Early: Non-SDS applications may take longer to process, so plan accordingly.
How IIE Education Can Help
At IIE Education, we specialize in helping students navigate the complexities of Canadian study visa applications. We can help you apply under the Non-SDS Category for pursuing your career in Canada.
We can help you in-
Guide you in preparing financial documentation.
Help you draft a winning SOP.
Provide tailored advice based on your unique circumstances.
Maximize your chances of a successful study permit application.
Conclusion
Studying in Canada without a GIC is entirely possible through the General Category or alternative financial arrangements. While it may require extra effort in documentation and preparation, the opportunity to achieve your educational goals in Canada is worth it. Contact IIE Education today to make your Canadian study dreams a reality!