How Much Money Do I Need to Show for a Canadian Study Permit?
For study permit applications made on or after September 1, 2026, you need to show at least $23,448 for your first year of living costs if you're studying outside Quebec, plus your first-year tuition and your travel to and from Canada. The amount goes up for each family member coming with you. Quebec sets its own amounts.
How much do I need for living costs?
IRCC sets a minimum amount for living costs in your first year, outside Quebec. This doesn't include tuition or travel.
| Applications submitted | 1 person | Each family member beyond 7 |
|---|---|---|
| On or after September 1, 2026 | $23,448 | +$6,318 |
| January 1, 2025 to August 31, 2026 | $22,895 | +$6,170 |
For family sizes between 2 and 7, IRCC publishes a full table on its proof of financial support page. Use the amount for your family size.
What's included in the total?
| Cost | What to show |
|---|---|
| Living costs | At least the amount in the table for your family size |
| Tuition | Your first year of tuition, ideally with a receipt from your school |
| Travel | Enough to cover travel to and from Canada for you and family coming with you |
Example: a single student with $20,000 first-year tuition would need to show at least $23,448 + $20,000 = $43,448, plus the cost of travel.
What counts as proof?
- A tuition and housing receipt from your designated learning institution.
- A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution.
- A student or education loan from a bank.
- Bank statements for the past 6 months, showing the source of the money.
- A scholarship, or proof you're in a Government of Canada-funded program.
- A letter of support from the person or institution paying, with their ID or business registration.
- Pay stubs, pension documents or rental income, where relevant.
If your country has foreign exchange controls, you must also show you can move the money out of the country. Your visa office may ask for more.
Studying in Quebec?
IRCC doesn't set the amount for Quebec. You must show you can cover the costs set by Quebec's immigration ministry, which you'll also need for your Quebec Acceptance Certificate (CAQ).
How to make your financial proof stronger
- Show more than the minimum. The amounts are a floor, not a target.
- Explain the source of large deposits: a sale, savings, a gift, with documents.
- Pay first-year tuition upfront if you can, and include the receipt.
- Use a GIC to show living costs in a form officers easily recognize.
- Make it consistent with your study plan and your sponsor's income.
Common mistakes we see
- Using the old amount. Applications from September 1, 2026 need $23,448 for one person.
- Forgetting tuition and travel. The living-cost amount doesn't include them.
- Unexplained deposits. Money that appears just before applying raises questions.
- A sponsor letter with no proof of the sponsor's income.
Every situation is different. GLC Immigration Consulting can help in three ways:
- Consultation: a one-on-one session with Osaro Ezomo, RCIC, to review your situation and your options.
- Full representation: we prepare and submit your application and act as your authorized representative with IRCC, from start to finish.
- Pre-submission review: you prepare your own application, and we review it for errors, gaps and risks before you submit.
To request full representation or a pre-submission review, or for any other question, email us at hello@gradlifecanada.ca.
Frequently asked questions
How much money do I need for a Canadian study permit in 2026?
For applications on or after September 1, 2026, at least $23,448 for one person's first-year living costs outside Quebec, plus first-year tuition and travel costs.
Does the proof of funds amount include tuition?
No. The living-cost amount excludes tuition and travel, which you must show separately.
Is a GIC required?
No, but a GIC from a participating Canadian financial institution is one accepted way to show you can cover your living costs.
How many months of bank statements do I need?
IRCC lists bank statements for the past 6 months, including the month you apply or the month before, showing the source of income.
What's the amount for Quebec?
Quebec sets its own amounts. You must show you can cover the costs set by the Quebec immigration ministry for your CAQ.
Fact-checked: Based on IRCC's Study permit: Proof of financial support page (last modified August 28, 2026) and Guide 5269. Verified November 4, 2026.
Disclaimer: This article is general information only and is not legal or immigration advice. Immigration rules change often. For advice on your situation, speak with a licensed immigration professional.
Regulated Canadian Immigration Consultant, licensed by the College of Immigration and Citizenship Consultants (CICC), licence #R711785. Osaro is the principal consultant at GLC Immigration Consulting in Calgary, Alberta, helping clients with Express Entry, provincial nomination, work and study permits and family sponsorship.
Book a consultation · hello@gradlifecanada.ca