but many of my friends telling me that you have to have show atleast $5000 in your account in order to extend your permit. But, the thing is I just paid my Tuition fee and I don't have any savings left in my account. I have my college letter which states that I am full time student and my course will finish in December 2012 and I also have my official transcript ready just waiting for my funds issue in bank.
Read it again;
"2. No bank statement is required if continuing the same course."
I used the word 'continuing', means if extending study permit for a NEW course, you need to show your first year tuition + living expenses.