Studying abroad can be an exciting adventure.
To help you get started there are a few things that you should be aware of if you plan to come to Canada as an international student.
Study permit[1]: What you need to know
A study permit is a document from the Government of Canada that allows you to study at designated learning institutions (DLIs) — a school approved to host international students where you have been accepted. A study permit alone doesn’t let you enter Canada. You may also need a visitor visa or an Electronic Travel Authorization (eTA). If your study permit is approved, Canada will issue the visa documents you need at the same time.
How and when to get a study permit
You should apply for your study permit before you travel to Canada. Make sure you’re eligible for a study permit by checking the Canadian Government’s guidelines.[2] It’s also helpful to make sure you have all the documents you need before you apply. When you’re ready, in most cases you have to apply online.[3]
Student Direct Stream (SDS)[4]: Fast track your study permit application
You may be able to get your study permit faster by applying online through the Student Direct Stream (SDS) if you’re a legal resident living in one of 14 designated countries. With the SDS, the Government aims to process applications within 20 calendar days, although some applications may take longer.
What are some of the requirements[5] to apply using the SDS?
You must:
- Live outside of Canada and be a legal resident of one of the designated countries
- Have an acceptance letter from a post-secondary DLI
- Have the results of a recognized language test
- Show that you have a Guaranteed Investment Certificate (GIC) of CAD $10,000
For the full list of eligibility requirements check out the link here.
What is a Guaranteed Investment Certificate (GIC) and how do you get one?
A GIC is a Canadian investment that has a guaranteed rate of return for a fixed period of time.[6] GICs can be obtained from financial institutions, including TD.[7]
With a TD International Student GIC you can enjoy the security of having a set interest rate for the full term. The TD International Student GIC also offers the added benefits of:
- No application fees
- A simple and fully digital 4-step application process
- Support through a network of over 1,100 branches across Canada once you arrive
Coming to a new country and enrolling in higher education are adventures — the changes and challenges can seem daunting at first, but they can bring long-term benefits. With its International Student GIC program TD strives to help make your journey to apply for a study permit more comfortable.
Why Choose TD?
150 years helping Canadians:
TD has a proud history of delivering financial solutions to Canadians for more than 150 years. TD also brings a century of experience helping newcomers navigate the unique challenges of the Canadian banking system.
With over a thousand branches and a reputation for excellence in financial services, TD has become one of the largest and most trusted banks in Canada, now serving 16 million Canadians.
TD offers online support and resources of interest to newcomers on topics such as banking basics, moving to Canada, credit score essentials, and more. TD has more than 1,100 branches and can also serve you in more than 50 languages . TD is open longer hours for your convenience. TD has thousands of ATMs across Canada to help you take care of your everyday banking quickly and easily.
Ready to Bank?
Learn more about TD’s New to Canada Banking Package today.
Book an appointment to talk with a TD Personal Banking Associate about the TD New to Canada Banking Package. You can book online right away, or visit the TD website to learn more.
[1] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit.html
[2] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/eligibility.html
[3] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/apply.html
[4] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/student-direct-stream.html
[5] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/student-direct-stream/eligibility.html
[6] https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/student-direct-stream/eligibility.html#GIC
[7] https://www.td.com/ca/en/personal-banking/solutions/student-banking/international-student-gic
