University of Saskatchewan

Financial Services Division (FSD)

Guidelines & Procedures

International Student Deposits

Purpose

To ensure that deposits from international students to satisfy Immigration Canada's requirements are handled in a secure manner and are applied to the correct student account.

Guidelines

General

One of Immigration Canada's requirements to enter Canada on a study permit is to show evidence of financial support for tuition and living expenses for the first year of study in Canada. The financial support requirement is the cost of tuition for the first year ($13,000 - $17,000) plus living expenses (approximately $10,000). Students wanting to deposit money with the University of Saskatchewan to meet this requirement must follow the guidelines outlined below.

Eligibility

These guidelines apply only to students requiring a deposit for immigration purposes.  Payments in subsequent years will only be accepted if there are amounts owing to the University and only for the amount owing.

Responsibilities

Responsibility
International Student
  • Be informed of any Immigration Canada requirements
  • Complete Information Form.
  • Follow University guidelines for payment of deposit.
Student Accounts & Treasury
  • Ensure deposit monies are held until the student registers at the University of Saskatchewan.
  • Ensure deposit monies are credited to the correct student account or refunded to the person specified on the Information Form.

Procedures

Methods of Paying Deposit

There are two accepted methods for paying a deposit at the University:

  1. wire transfer
  2. in person deposit

In-person deposits made on behalf of an international student are subject to the same information requirements as outlined below.  The person making the deposit is responsible for furnishing all of the required information.  Deposits made by means of an international money order take up to three months to clear through the Canadian banking system.  Refunds in excess of tuition owing will not be processed during this three-month period.

Student

Complete Information Form

Complete and fax the Information Form for International Student Deposits to the Student Accounts office (306-966-8306).

If the Information Form is not received, a confirmation letter will not be issued and the wire may be returned to the sender.  It is the responsibility of the student to ensure that this information is furnished to the University of Saskatchewan.

Arrange payment

The student must arrange a wire transfer or in person deposit for the amount to be deposited.

The following information will be required by the bank arranging the transfer:

Beneficiary Customer: University of Saskatchewan
Bank Name: ROYAL BANK OF CANADA
Address: Main Branch
154 - 1st Avenue South
Saskatoon, SK
S7K 1K2
Swift Code: ROYCCAT2
Transit Number: 07378
Account Number: 073781463819
Payment Details Tuition Deposit for (Student Name & Date of Birth)

**Students should be aware that international wire transfers take 3 to 5 days to arrive

Student Accounts Office

Issue Confirmation letter

Once the funds and Information Form have been received, the University of Saskatchewan will issue a letter confirming to the embassy that the deposit has been received.  Confirmation letters will not be issued until both the funds and the Information Form have been received.

Hold payment until student is registered

Money received is held for the student pending the student's arrival in Saskatoon and registration in classes.  Once the student is registered and has provided identification to Student Accounts, an amount approximately equal to one year's tuition is withheld and a refund is issued to the student for the remainder.

Apply payment to the Student Account

The amount withheld for tuition is applied to the student's account until it has been exhausted or the student's study permit expires and the student returns to their native country.  At no time will the balance held for tuition fees be returned to the student while the student is still in Canada on a study permit.  No interest will be paid on the deposit during the period in which the University of Saskatchewan has possession of the funds and no University service charge will applied.

Transfer to another institution

If the student transfers to another educational institution in Canada, the funds held for tuition can be transferred to that institution.  The student is required to provide the necessary information in addition to confirmation of registration at the other institution.

Refund

In the event that the student does not come to Canada, the money will be refunded to the source identified on the Information Form.  In order to process a refund, the student will need to provide the following to the Student Accounts office:

Contacts

If additional information is required regarding the above procedure, please contact:

Student Accounts
University of Saskatchewan
E40 - 105 Administration Place
Saskatoon, SK S7N 5A2
Phone: 306-966-4595
Fax: 306-966-8306

Forms

VersionsDocument NameHelp
Information Form for International Student Deposits