The SDS provides a streamlined application process and faster processing times but you must still meet all the requirements for a study permit. For SDS study permit applications, the processing time will be 45 days or less. You will be able to apply directly to the bank that issued your Guaranteed Investment Certificate (GIC) for a full refund of your GIC.
We strongly recommend that you submit your application at least three months ahead of your proposed date of travel. Applications received after 1 April for May entry, after 1 August for September entry, and after 1 December for January entry may not be processed in time for the start of the class and may be refused.
According to Immigration, Refugees, and Citizenship Canada guidelines, you will require approximately $10,000 CAD per year, not including tuition fees, to cover your living expenses. This requirement is fulfilled through the purchase of a participating GIC, and evidence that you have paid your tuition fees.