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Canada study permit guide
Canada study permit proof of funds: CAD 23,448 and how a GIC fits
For study permit applications made on or after 1 September 2026, a single student outside Quebec must show at least CAD 23,448 for living costs, on top of first-year tuition and travel costs. That is up from CAD 22,895 for applications made between 1 January 2025 and 31 August 2026. A guaranteed investment certificate (GIC) from a Canadian bank is one accepted way to prove the money.
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- Living costs (1 Sept 2026 onward)
- CAD 23,448 for one student
- Previous figure
- CAD 22,895 (Jan 2025 to Aug 2026)
- Also required
- First-year tuition and travel costs
- Common proof
- GIC from a Canadian bank
- Quebec
- Separate rules and amounts
Living-cost amounts by family size
IRCC publishes the living-expense amounts, excluding tuition and transportation, for all provinces and territories except Quebec. The amounts are updated each year.
| Family members (including you) | Applying on or after 1 Sept 2026 | Applying 1 Jan 2025 to 31 Aug 2026 |
|---|---|---|
| 1 (single student) | CAD 23,448 | CAD 22,895 |
| 2 | CAD 29,192 | CAD 28,502 |
| 3 | CAD 35,888 | CAD 35,040 |
| 4 | CAD 43,572 | CAD 42,543 |
| Each additional member beyond 7 | CAD 6,318 | CAD 6,170 |
Quebec applicants must meet the amounts set by the Quebec immigration ministry, which differ from these figures.
What you need to show in total
The living-cost figure is only one part. You must also show enough money for the following:
- First-year tuition, for example through a receipt or fee statement from your designated learning institution.
- Return travel to and from Canada for you and any accompanying family members.
- Living costs at or above the figure for your family size and application date.
Example for one student: if your first-year tuition is CAD 20,000, you should plan to show about CAD 20,000 + CAD 23,448 + travel costs. Always check the tuition on your offer letter and the date you submit.
Where a GIC fits
IRCC lists a guaranteed investment certificate (GIC) from a Canadian financial institution as one example of acceptable proof of funds. Many students use one because it is a simple, bank-issued document. A GIC is not the only option: bank statements, proof of a Canadian bank account in your name with transferred funds, an education loan letter, or proof of paid tuition and housing can also be used.
If you use a loan, see our guide to an education loan for study abroad and the EMI calculator.
Step-by-step: preparing your funds proof
- Check the date of your application. The amount depends on the day you submit.
- Get your tuition figure from the institution and confirm any fees already paid.
- Choose your proof: GIC, bank statements, loan sanction letter, or a combination.
- Make sure the money is genuinely yours or your sponsor's and documented, since unexplained deposits cause refusals.
- Submit the study permit application following the study permit guide.
Budget beyond the visa minimum
The visa figure is a floor, not a budget. Rent, food and transport in cities like Toronto and Vancouver can exceed it. Use our Canada cost of living guide and cost of studying in Canada to plan the full amount, and see part-time job rules for realistic income.
Need a Canada budget that stands up to a visa officer?
AbroBot calculates tuition, living costs and proof-of-funds options for your exact intake, and tells you when the numbers do not work.
Get my free eligibility checkAsk the AI counsellorFrequently asked questions
How much money do I need to show for a Canada study permit in 2026?
For applications made on or after 1 September 2026, a single student outside Quebec must show CAD 23,448 for living costs, plus first-year tuition and travel costs.
What was the proof of funds amount before September 2026?
CAD 22,895 for a single student for applications made between 1 January 2025 and 31 August 2026.
Is a GIC mandatory for a Canada study permit?
No. IRCC lists a GIC as one example of acceptable proof of funds. Other documented proof can also be used.
Do I need to show tuition as well as living costs?
Yes. You must show enough funds for first-year tuition and for return travel, in addition to living costs.
Are the amounts different for Quebec?
Yes. Quebec sets its own financial requirements through the provincial immigration ministry.
Do the amounts change every year?
Yes. IRCC updates the living-cost amounts annually, so check the current figure on the date you apply.
Sources and how we verify
Facts on this page were checked in October 2026 against the official sources below and cross-checked with current university and immigration guidance. Fees, thresholds and deadlines change, so confirm the final figure on the official site before you pay or submit anything.