Last verified: August 29, 2026 · Official source: canada.ca — Proof of financial support
General information, not legal or immigration advice. For advice on your situation, consult a licensed RCIC or immigration lawyer.
The bottom line
To get a Canadian study permit, you must prove you can cover three things:
- Your first year's tuition (exact amount from your school's acceptance letter)
- Living costs — at least CAD $23,448 for a single applicant outside Quebec if you apply on or after September 1, 2026. If you applied on or before August 31, 2026, the figure is CAD $22,895
- Return travel costs to your home country
🔴 The amount rose on September 1, 2026. What counts is the date you submit the application. Apply on or before August 31, 2026 and the single-applicant figure is $22,895; apply on or after September 1, 2026 and it is $23,448. IRCC states the table is updated each year, so check the canada.ca proof of financial support page again right before you file. The figures in this guide were verified August 29, 2026.
Living-cost requirement by family size
The figures above are for a single applicant. If family members come with you, the required amount rises. These are the amounts outside Quebec.
| Family size | Applying on or before August 31, 2026 | Applying on or after September 1, 2026 |
|---|---|---|
| 1 | CAD $22,895 | CAD $23,448 |
| 2 | CAD $28,502 | CAD $29,192 |
| 3 | CAD $35,040 | CAD $35,888 |
| 4 | CAD $42,543 | CAD $43,572 |
| 5 | see note below | CAD $49,419 |
| 6 | see note below | CAD $55,736 |
| 7 | see note below | CAD $62,054 |
| Each additional | see note below | CAD $6,318 |
The table in force on or before August 31, 2026 is published only up to a family of 4 on the IRCC page, so amounts for 5 or more are not confirmed there. The table that applies on or after September 1, 2026 is published up to 7 plus a per-additional-person figure.
Quebec is different
Quebec has its own financial requirements that differ from the federal figures above. If you are studying in Quebec, check the Quebec government's requirements in addition to the federal ones.
Later, if you move from a study permit toward permanent residence via Express Entry, note that PR applications have a separate "settlement funds" requirement — see Express Entry Settlement Funds.
What counts as proof of funds?
IRCC accepts several types of documentation:
| Proof type | Notes |
|---|---|
| Bank statements | Typically last 3–4 months, showing consistent balance |
| Guaranteed Investment Certificate (GIC) | A GIC from a Canadian bank (e.g. TD, Scotiabank, CIBC) is a common and accepted form — you deposit a lump sum in Canada that is released in monthly installments |
| Scholarship or bursary letter | Must cover living expenses and confirm the amount |
| Proof of payment | Evidence that tuition and fees have already been paid |
| Student loan letter | Official letter confirming approved amount |
| Proof of income or assets | Payslips, investment statements, property documents |
IRCC officers look for sufficient, consistent, and accessible funds — money that appears suddenly before your application can raise concerns.
The GIC option
Many students use a Guaranteed Investment Certificate (GIC) from a Canadian financial institution to meet the living-cost requirement. The GIC works like this:
- You deposit a lump sum with a participating Canadian bank (before arriving in Canada, via wire transfer).
- The bank issues a GIC confirmation letter — you include this in your study permit application.
- After you arrive in Canada, the GIC releases funds in monthly installments over the year.
GICs are popular because they demonstrate clear, accessible funds in Canada and are well-understood by IRCC officers. Participating banks include TD, Scotiabank, CIBC, BMO, RBC, and others. Each bank has its own process and fees — compare before choosing.
⚠️ The minimum GIC amount must meet IRCC's living-cost requirement at the time of application. Confirm the current amount before transferring funds.
How much total do you need to show?
Example calculation (outside Quebec, single applicant, 2026):
| Item | Amount |
|---|---|
| First-year tuition (example — varies widely) | From your acceptance letter |
| Living costs | CAD $23,448 (from September 1, 2026) |
| Return travel | Variable — typically CAD $1,000–$3,000 |
| Total | Tuition + $23,448 + travel |
A school with CAD $15,000/year tuition and a $2,000 return flight would require you to show roughly CAD $40,000 total. Your school's international office can give you an estimate based on their actual fees.
Tips for a strong financial showing
- Show the full amount clearly — a single bank statement with the total balance is cleaner than multiple small accounts.
- Avoid large, unexplained deposits just before your application — IRCC may question sudden inflows.
- Include translations if statements are not in English or French.
- Be consistent — the name on financial documents must match your passport exactly.
- If using a sponsor (parent, relative), include a letter of support and their financial documents, and explain the relationship.