Free tool · Canada
Canada study permit proof of funds calculator
How much money to show for a Canadian study permit in 2026, for you and anyone coming with you.
Quick take. Outside Quebec, show your first year’s unpaid tuition, plus CAD 23,448 for living costs (1 September 2026 onwards, more for each family member who comes), plus travel there and back. A GIC is optional. IRCC’s list asks for 6 months of bank statements, not the 4 many pages still quote.
$45,448 CAD to show for your first year
The living-cost figure is IRCC’s minimum, and the tuition is your school’s. Travel is your own estimate, so use a real fare. Showing a little more than the total is safer than showing exactly the minimum.
Staying to work after you graduate? The work permit has its own English requirement; the IELTS to CLB calculator shows where your scores sit.
Amounts from IRCC’s proof of financial support page (checked 7 October 2026). For your own case, confirm on canada.ca before you apply.
IRCC living costs by family size
| People, including you | Living costs for the first year |
|---|---|
| 1 | CAD 23,448 |
| 2 | CAD 29,192 |
| 3 | CAD 35,888 |
| 4 | CAD 43,572 |
| 5 | CAD 49,419 |
| 6 | CAD 55,736 |
| 7 | CAD 62,054 |
| Each extra person | + CAD 6,318 |
For applications made on or after 1 September 2026, outside Quebec. Tuition and travel come on top.
What counts as proof
IRCC accepts any of these, and most applicants combine two or three:
- Bank statements for the past 6 months, in your name or your sponsor’s
- A Guaranteed Investment Certificate (GIC) from a participating Canadian bank
- An approved student or education loan
- A scholarship or funding letter
- A receipt for tuition you have already paid
- A letter from the person paying, saying how they are related to you, their job, and how much they will give
Where applications go wrong
- Showing only living costs. The CAD 23,448 is on top of tuition and travel, not instead of them.
- A sudden large deposit. Money that appears just before you apply, with no explanation, makes an officer doubt it is really available. Show where it came from.
- A sponsor with no link to you. If someone else is paying, explain who they are, why they are paying, and show their income, not just their balance.
- No plan after year one. For a two-year programme, say how the second year will be paid for.
- Forgetting family. Everyone who comes with you raises the amount, and their travel counts too.
Most of these are fixed with a clear letter of explanation. Our letter of explanation guide shows how to write one, including the funding paragraph.
Comparing countries? See UK vs Canada vs Australia student visa costs.
English: the other number on your application
Your school will want an English score for admission, and if you plan to work in Canada after you graduate, the post-graduation work permit has its own minimum in every skill (see the IELTS score you need for a PGWP). Writing is the score most often below the line. The IELTS to CLB calculator shows where your bands sit, and the essay checker gives a free estimate for your Writing.
Questions
How much money do I need for a Canadian study permit in 2026?
For applications made on or after 1 September 2026, outside Quebec: your first year's tuition, plus CAD 23,448 in living costs for yourself, plus travel to and from Canada. The living-cost amount rises with each family member who comes with you, to CAD 29,192 for two people and CAD 43,572 for four.
Is a GIC mandatory?
No. The Student Direct Stream, which required a GIC, closed on 8 November 2024. A GIC is still one of the accepted ways to prove funds, alongside bank statements, an education loan, a scholarship letter, or a letter from the person paying, but it is not required.
How many months of bank statements do I need?
IRCC's document list asks for bank statements for the past 6 months, including the month you apply or the month before. Many older pages still say 4 months. Large deposits in that period should be explained, for example with a sale agreement or a sponsor's letter.
Does the amount include tuition?
No. The living-cost amount is on top of tuition and travel. If you have already paid some tuition, the receipt counts as proof and you only need to show the rest of the first year.
What if my programme is longer than one year?
You show funds for the first year, but IRCC also asks how you will pay for the rest. A short explanation of where later years' money comes from, backed by documents, helps.
Is this an official calculator?
No. It uses IRCC's published table (checked 7 October 2026). Quebec sets its own amounts, and your own case may need more. Confirm on canada.ca before you apply.