There are two methods to apply for a study permit: the standard route and the Student Direct Route (SDS). SDS is an accelerated study permit process given by Immigration, Refugees, and Citizenship Canada (IRCC) to students who fulfil all qualifying conditions.

Eligibility Requirements
To be eligible, applicants must reside in certain countries and show full pre-payment of tuition for their first year of studies, among other documents. Review the specific requirements on the IRCC website.
The Student Direct Stream (SDS) is available to those who are legal residents of the following countries at the time of application:
• Antigua and Barbuda
• Brazil
• China
• Colombia
• Costa Rica
• India
• Morocco
• Pakistan
• Peru
• Philippines
• Senegal
• Saint Vincent and the Grenadines
• Trinidad and Tobago
• Vietnam

Guaranteed Investment Certificate (GIC)
A GIC is a Canadian investment that has a guaranteed rate of return for a fixed period of time. Many banks offer GICs. The bank that gives you the GIC must:
• confirm that you bought a GIC by giving you 1 of the following:
    o a letter of attestation
    o a GIC certificate
    o an Investment Directions Confirmation or
    o an Investment Balance Confirmation
• hold the GIC in an investment account or a student account that you can't access until you arrive in Canada
• make you confirm your identity before they release any funds to you
• release the funds to you by providing:
    o an initial lump sum once you identify yourself upon arrival in Canada
   o the remainder of the funds in monthly or bi-monthly installments over 10 to 12 months

Financial institutions that offer GICs
You can get a GIC from a financial institution listed on the Canadian Deposit Insurance Company website. Make sure the financial institution you choose offers a GIC and meets the criteria for the Student Direct Stream.

The following financial institutions offer GICs that meet the criteria:
• Bank of Beijing
• Bank of China
• Bank of Montreal (BMO)
• Bank of Xian Co. Ltd.
• Canadian Imperial Bank of Commerce (CIBC)
• China Everbright Bank
• DesjardinsFootnote1
• Habib Canadian Bank
• HSBC Bank of Canada
• ICICI Bank
• Industrial and Commercial Bank of China
• RBC Royal Bank
• SBI Canada Bank
• Scotiabank
• Simplii Financial
• TD Canada Trust



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