Key takeaways
- Living costs from September 1, 2026: $23,448 for 1 person, $29,192 for 2, $35,888 for 3, $43,572 for 4
- Add first-year tuition and the cost of travel to and from Canada
- Applications received from January 1, 2025 to August 31, 2026 used $22,895 for 1 person
- A GIC from a Canadian bank is one accepted proof; bank statements for 6 months also work
- Quebec uses its own amounts for the Quebec Acceptance Certificate (CAQ)
How much money do you need for a Canadian study permit?
IRCC sets a minimum for 12 months of living costs. The amount depends on how many family members come with you. These amounts apply outside Quebec.
| People | From Sep 1, 2026 | Jan 1, 2025 to Aug 31, 2026 |
|---|---|---|
| 1 (you) | $23,448 | $22,895 |
| 2 | $29,192 | $28,502 |
| 3 | $35,888 | $35,040 |
| 4 | $43,572 | $42,543 |
| 5 | $49,419 | $48,252 |
| 6 | $55,736 | $54,420 |
| 7 | $62,054 | $60,589 |
| Each extra person | $6,318 | $6,170 |
On top of living costs, you must show your first-year tuition and transportation to and from Canada for you and your family.
What IRCC accepts as proof
- A guaranteed investment certificate (GIC) from a Canadian financial institution.
- Bank statements for the past 6 months, from a Canadian or foreign bank.
- Proof of a student or education loan from a financial institution.
- Proof of a scholarship or funding paid from within Canada.
- A letter from the person or school giving you money.
- Receipts showing you already paid tuition and housing fees.
Many students use a mix: a GIC for living costs plus a tuition receipt. Compare GIC options with our GIC calculator, and see the best way to pay tuition from abroad.
Studying in Quebec
If you will study in Quebec, you first need a Quebec Acceptance Certificate (CAQ). Quebec’s immigration ministry sets its own minimum amounts, and IRCC uses them. This calculator does not cover Quebec. Check the Quebec government’s current figures before you apply.
How the calculator counts
- It picks IRCC’s table based on your application date: the new amounts for applications from September 1, 2026, or the older amounts before that.
- It reads the living-cost amount for your family size, adding the extra-person amount above seven.
- It adds first-year tuition, minus any tuition you already paid (you show the receipt instead).
- It adds your travel estimate and compares the total with the funds you enter.
Worked example
Arjun will study a two-year college diploma in Ontario. He applies in November 2026, alone. First-year tuition is $20,000 and his flights are about $2,000.
- Living costs (1 person, new amount): $23,448
- Tuition: $20,000
- Travel: $2,000
- Total to show: $45,448
If he pays $10,000 of tuition before applying, he shows that receipt and only needs $35,448 more in funds. Real costs are often higher than IRCC’s minimum. Plan with the cost of studying calculator.
Before you apply
- Most students also need a provincial attestation letter (PAL).
- Keep funds steady. A sudden large deposit may need a clear explanation.
- Check the work rules for students in our student work guide.