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Study visa, proving financial stability

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Filed: Country: Canada
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My neice (who is a US citizen) wants to go to university in Canada.

According to this site

http://www.visaplace.com/canada-immigration/temporary-residence-student-study-permit.php

she'll need to prove that she has sufficient funds to pay the school's tuition and cost of living for one year of study.
Does she need to have all that money when she applies?
Or can she show proof that by the time she'll be in school she would have enough then saved?

If she does need to have it all at once, are there any loans that students on a work visa can apply for?
I know in Ontario Canada we have OSAP, is there anything that can work for my neice?

Thank you!

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