Tuition
Take the number from the college's fee schedule, not a brochure. Ask for the full year, with every extra line.
Money
Plan your money before you pay a deposit
Agree on tuition, rent and a cushion as a family. Then learn how banks, tuition payments and remittances work, so nothing is a surprise in your first winter.
- Independent counselling
- Free first consultation
- Walk-in office, Brampton ON
Agree the numbers as a family before you pay a deposit.
The proof-of-funds requirement is separate from your budget. Official source: IRCC study permit page, last checked October 2026. Check the current wording before you finalise.
Open the IRCC page (opens in a new tab)Start with three lines
Write these down first. Everything else on this page hangs off them.
Start with three lines
Start with three lines
Write these down first. Everything else on this page hangs off them.
Living costs
Use real rent and food costs for your city. The cost guide shows what to include.
A cushion
Spare money for exchange-rate moves, bank fees and costs you did not expect.
Kept apart
Proof of funds is an IRCC document rule, not a budget.
Talk it through before you commit
We are counsellorsTalk it through before you commit
Money decisions are easier when everyone has the same list. We can walk through the questions to ask each college and help you compare options. We then prepare and submit your college application with your approval. We do not hold or handle your money.
For tax, banking or immigration decisions, speak to a licensed professional.
Bank accounts for newcomers
Banks offer student and newcomer packages. They differ in fees, e-transfer limits and how easy it is to get help in person. Details are in the banking guide.
Bank accounts for newcomers
Bank accounts for newcomers
Banks offer student and newcomer packages. They differ in fees, e-transfer limits and how easy it is to get help in person. Details are in the banking guide.
| Look at | Branch banks | Online-only banks |
|---|---|---|
| Getting help | Staff you can see in person. Useful when a transfer needs a person to fix it. | Check how you reach a person if something goes wrong. |
| Opening the account | Book an appointment early in the term. | Everything is done in the app, and often simpler to open. |
| Fees | Ask which fees are waived while you study, and for how long. | Often fewer fees. Ask the same question about what is waived. |
Compare them for yourself. See the banking guide for documents to bring and questions to ask.
Paying tuition: after you pay
Paying tuition: after you pay
Paying tuition: after you pay
Colleges list the ways they take payment. Some use payment services, some take bank transfers. Each has fees and a posting time. A payment that leaves your account but has not reached the college is not yet paid.
- Save the confirmation number and a screenshot
- Check that the payment shows in the student portal
- Ask the college how long posting takes
- Keep every receipt in one folder
Student credit cards
Student credit cards
Student credit cards
With no Canadian credit history, a secured card (where you leave a deposit) is often the first step. Later you may be offered a student card.
Why a clean record helps
Landlords and phone companies may check your credit file. A clean record helps when you rent a room or sign a phone plan.
Start small
Begin with one card, pay on time and keep your use low. Do not apply for several cards at once, because each application leaves a mark on your file.
Pay the full statement balance on time, every month
That is how a history is built. Carrying a balance only costs you interest.
Tax basics
General information only. Rules depend on your status. Official source: Canada Revenue Agency, last checked October 2026.
Tax basics
Tax basics
General information only. Rules depend on your status. Official source: Canada Revenue Agency, last checked October 2026.
Do I need to file a tax return?
Many students need to file a return each year, even with little or no income. Rules depend on your status, so check the official guidance and ask a qualified tax professional if unsure.
What to check
- Your status in Canada
- Whether you had any income
- Your tuition receipts from the college
Can I use my tuition amounts?
Some students have tuition amounts they can use. The CRA explains what you can claim.
What to check
- Keep every tuition receipt
Who do I ask?
A qualified tax professional. We are education counsellors and do not give tax advice.
Sending money home
Sending money home
What is the total fee, and what rate will I get?
Add the fee and the rate together. The headline rate alone can mislead.
How much will the other person receive?
Ask for the amount in their currency, after every charge.
How long does the transfer take, and is there a limit?
A slow transfer near a deadline causes stress. Ask about limits per transfer too.
What happens if it is delayed or returned?
Know who to call before you send, and keep the receipt.
Independent advice
Study Master Canada provides education counselling and, with your approval, prepares and submits your college applications. We do not give immigration advice or prepare immigration applications. Regulated immigration work, including study permit applications, appeals, spouse work permits and PR pathways, is handled only by a licensed RCIC partner, Visa Master Canada, when you retain them directly. We are not affiliated with any government.
Talk to a counsellor before you decide
A free first conversation about programs, costs and next steps. No obligation, and you make every application yourself.
Book free counselling
Mon–Fri, 9:30am–6:30pm ET. Walk-in office: Unit 1805, 83 Kennedy Road South, Brampton, ON L6W 3N7.