Depending on the kind of accounts you have at the bank, you may have to pay service charges on what seem to be minor transactions. The key is to have an account that allows you to do the things you need to do with a minimum number of problems and lowest costs possible. There are very few sources of financial assistance for persons who hold a Student Authorization and run out of money. If an emergency arises, it would be advisable to discuss the problem with the International Student Advisor, as an emergency loan may be available . Government loans and most scholarships are available only to Canadian citizens or permanent residents who have lived in Canada for one full year.
Some students attempt to borrow money from finance companies.
These companies often charge high interest rates and ask for some form of security before granting a loan. It is important to note what form of security you are giving, and what will happen if payments are not made on time. For example, a wage assignment or garnish allows the finance company to take all or part of one's salary or wages without taking the matter to court. All parties who co-sign or endorse a loan on another's behalf render themselves responsible should that person fail to meet the payments. Before proceeding to make loan applications or helping someone else acquire a loan, you should consult the International Student Advisor.