Want to study in Canada? Other than knowing all the information about the college admission process, education loans, visa process, etc., you should also know about the financial compliances compulsory to fulfill before going to study in Canada. Here, we are discussing one such mandatory financial compliance- the Student Guaranteed Investment Certificate (GIC).
In addition to the cost of your tuition, you have to show that you have assets of at least 10,000 Canadian dollars before you arrive in Canada. It is for international students to prove that they can support themselves financially while studying. GIC is recommended to purchase in order to showcase such financial backup. For SDS programs, GIC is a compulsion. In Non-SDS programs, it is not entirely compulsory. Even then, GIC is recommended as Visa authorities prefer GIC even in non-SDS cases.