Study permits?

Question

I hope to go to the University of Toronto next fall. I am from western NY so I will need a study permit, however, one of the requirements is: "evidence of adequate funds; (cost of tuition plus at least $10,000 per year for single students)"

...no way I'm going to have that kind of money when I start my first year. Does this mean proof of loans, financial aid, and scholarships?

It also asks for an estimated time needed to complete the program however I would like to become a citizen of Canada. How would the transfer from student to permanent resident work and would my 4 years in university count towards the citizenship requirement of living in Canada for 3 out of the past 4 years?

Thank you so much :]

Answer 1

You cannot finance your whole education on loans, financial aid and scholarships (unless the scholarship is for the full amount of tuition) since you will need your own funds once those loans, grants and scholarships run out but yes, you may eviedence of those sourse of funds to meet the evidene of adequate funds requirement.

You would never state that you intend to be a citizen of canada. A student visa/permit is a issued to non-immigrants with none-immigrant intent. By stating you intend to become a citizen shows your intent and you will be denied the study permit based on this.

Canada does not offer a direct transfer from a student permit to permanent residency. You will have to find an employer to sponsor you for residency, just like everyone else - read more about this in the first link.

To be eligble for citizenship you must have lived in Canada for the past four years (1,095 days) in the past four years.

You may be able to count time you spent in Canada before you became a permanent resident if that time falls within the four-year period. - See 2nd link for more information.

Answer 2

There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most<!--instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time.  There are four main federal loan programs.

http://best-loans.awardspace.com/student...

Federal loan consolidation is for students who are in repayment status or parents who wish to extend the repayment period on their current PLUS and obtain a fixed interest rate for the life of the loan-->you can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.