Short answer: to apply for a study permit outside Quebec, a single applicant generally must show CAD $22,895 for living expenses for the first year (effective September 1, 2025), on top of first-year tuition and travel costs. Understanding the full cost of studying in Canada matters for two reasons: planning your own finances, and satisfying IRCC that you can support yourself. This guide walks through the current proof-of-funds amount, how a Guaranteed Investment Certificate (GIC) fits in, typical tuition ranges by program type, estimated rent by major city, and the other living costs international students should budget for. An IRCC officer makes the final decision on every application, so treat these figures as planning guidance and confirm the latest numbers on canada.ca before you apply.
Proof of Funds for a Study Permit: $22,895 CAD (Single Applicant)
IRCC requires you to prove you can pay for your first year of tuition and support yourself while you study. For applicants outside Quebec, the cost-of-living portion for a single applicant rose to CAD $22,895 effective September 1, 2025 (up from $20,635 in 2024, and from $10,000 before 2024). IRCC adjusts this figure periodically against Statistics Canada cost-of-living measures, so it can change. What this means for you: you generally need to show $22,895 for living expenses PLUS your first-year tuition PLUS travel costs, not $22,895 in total. The amount increases with each accompanying family member.
How much you must show (outside Quebec)
- ✓ Single applicant: $22,895 CAD for living expenses (effective September 1, 2025)
- ✓ 2 people: $28,502 | 3 people: $35,040 | 4 people: $42,543 (CAD, living expenses)
- ✓ Each amount is IN ADDITION to first-year tuition and travel costs
- ✓ Quebec sets its own, separate financial requirement (it does not use these federal figures)
- ✓ A Guaranteed Investment Certificate (GIC) is one accepted way to show living-expense funds; you do not have to use a GIC
- ✓ IRCC adjusts the amount periodically, so verify the current figure on canada.ca before applying
Source: IRCC, "Study permit: Get the right documents, proof of financial support" (canada.ca). The cost-of-living figures above are effective September 1, 2025 and are adjusted periodically. Always confirm the current amount and family-size table on canada.ca, as an officer decides whether your funds are sufficient.
How a GIC Fits In (and the SDS Closure)
A GIC is a deposit you buy from a participating Canadian financial institution; the bank holds the money and releases it to you in instalments after you arrive, which helps demonstrate available living-expense funds. It is one acceptable form of proof, alongside bank statements covering the past 4 months, proof of a Canadian bank account in your name with funds transferred, a student or education loan, a bank draft in convertible currency, or proof of paid tuition and housing. Note that the Student Direct Stream (SDS) and the Nigeria Student Express (NSE), which used a fixed GIC amount as a fast-track, ended on November 8, 2024. All study permit applicants now apply through the regular study permit stream, where a GIC is optional rather than required.
Ways to show your funds
- ✓ GIC from a participating Canadian financial institution (optional, released to you in instalments)
- ✓ Bank statements for the past 4 months showing stable funds
- ✓ Proof of a Canadian bank account in your name with money transferred to Canada
- ✓ A student or education loan from a bank
- ✓ Proof of paid tuition and housing fees, scholarship or funding letters
- ✓ Family financial support, with the supporter's bank statements and a signed letter
The SDS and NSE streams closed November 8, 2024. Applying through the regular study permit stream, you can use any acceptable combination of the documents above to satisfy the officer; a GIC is no longer a required fast-track. Confirm accepted documents on canada.ca.
Tuition Ranges by Program Type
Tuition for international students in Canada varies significantly by institution type, program, and province. The following are approximate annual ranges based on publicly available university and college fee schedules:
| Program Type | Approximate Annual Tuition (CAD) |
|---|---|
| Undergraduate (arts/humanities) | $20,000 – $35,000 |
| Undergraduate (science/engineering) | $25,000 – $45,000 |
| Undergraduate (business/commerce) | $25,000 – $50,000 |
| College diploma (2-year) | $12,000 – $25,000 |
| Master's degree (coursework) | $18,000 – $40,000 |
| PhD (funded programs) | $7,000 – $15,000 (often partially funded) |
These are approximate ranges based on publicly available data from Canadian universities. Always check the specific institution's fee schedule for your exact program. MBA and professional programs (law, medicine, dentistry) can be significantly higher.
Rent by City: 2026 Estimates
Housing is typically the largest non-tuition expense for international students. Monthly rent estimates below are for one-bedroom apartments or student shared housing. Costs vary significantly by neighbourhood and availability.
| City | 1-Bedroom Apt (approx.) | Shared Room (approx.) |
|---|---|---|
| Toronto, ON | $2,300 – $2,900/mo | $900 – $1,400/mo |
| Vancouver, BC | $2,200 – $2,800/mo | $900 – $1,300/mo |
| Montreal, QC | $1,400 – $2,000/mo | $600 – $900/mo |
| Calgary, AB | $1,700 – $2,300/mo | $700 – $1,100/mo |
| Ottawa, ON | $1,800 – $2,400/mo | $700 – $1,100/mo |
| Halifax, NS | $1,500 – $2,000/mo | $600 – $900/mo |
These estimates are based on publicly available rental market data and should be treated as general guidance. On-campus residence is often cheaper but limited, apply early if available at your institution.
Other Monthly Living Costs
Beyond rent and tuition, plan for the following monthly expenses:
| Expense Category | Approximate Monthly Cost (CAD) |
|---|---|
| Groceries / food | $400 – $700 |
| Public transit (monthly pass) | $100 – $160 |
| Phone plan | $35 – $80 |
| Health insurance (provincial or school plan) | $30 – $100 |
| Internet (if not included in rent) | $50 – $80 |
| Books and supplies | $50 – $150 (average) |
| Personal / miscellaneous | $100 – $200 |
Total monthly living costs (excluding tuition and rent) typically range from $750 – $1,400 per month depending on city and lifestyle. Add rent and these costs together and you can see why IRCC sets the cost-of-living portion of proof of funds at $22,895 for a single applicant, it reflects roughly one year of living expenses outside tuition. Note that eligible students can generally work up to 24 hours per week off campus during academic sessions and full-time during scheduled breaks, which can supplement (but should not replace) the funds you show at application.
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Open Fee CalculatorFrequently Asked Questions
How much money do I need to prove for a Canadian study permit?+
For applicants outside Quebec, a single applicant generally must show CAD $22,895 for living expenses (effective September 1, 2025), in addition to first-year tuition and travel costs. The living-expense amount rises with each accompanying family member (for example, about $28,502 for two people and $35,040 for three). Quebec sets its own separate requirement. These figures are adjusted periodically, so confirm the current amount on canada.ca; an officer decides whether your funds are sufficient.
Can I use my parents' money to meet the proof of funds requirement?+
Yes, in most cases. If a family member is financially supporting you, they can provide their bank statements and a signed letter of financial support. IRCC generally considers third-party financial support as long as the funds are clearly available and committed to your studies. As with all applications, the officer assesses whether the funds are genuine and sufficient.
Is it cheaper to study outside Toronto or Vancouver?+
Usually, yes. Cities like Halifax, Montreal, Winnipeg, and smaller university towns tend to have significantly lower rent and overall living costs. Montreal in particular often offers lower tuition than Ontario and lower rent. The trade-off is that Quebec has its own immigration requirements, including a separate financial requirement and, for some pathways, French-language considerations.
Does a GIC count as my total proof of funds?+
No. A GIC, if you choose to use one, typically covers the living-expense portion only. You must also show you can pay your first-year tuition (through proof of payment, a scholarship, or additional funds) and travel costs. A GIC is just one accepted way to show living-expense funds; you can also use bank statements, a Canadian account with transferred funds, or a student loan.
Is the Student Direct Stream (SDS) still available?+
No. The Student Direct Stream and the Nigeria Student Express both ended on November 8, 2024. All study permit applicants now apply through the regular study permit stream. Under the regular stream a GIC is one optional way to show funds rather than a required fast-track, so you are not locked into the old fixed GIC amount.
Do I need a Provincial Attestation Letter (PAL) as part of my application?+
In most cases, yes. Since January 22, 2024, most study permit applicants must include a Provincial or Territorial Attestation Letter (PAL/TAL) from the province or territory, and in 2024 the requirement was extended to many previously exempt applicants, including most master's and doctoral students. Some exemptions remain. A PAL is separate from proof of funds; verify whether your situation requires one on canada.ca.
Can I work to help cover my living costs while studying?+
Generally, eligible students may work up to 24 hours per week off campus during academic sessions (effective November 8, 2024, up from 20), and full time during scheduled breaks such as the summer holiday. However, IRCC expects you to show you can support yourself at the time of application, so plan your proof of funds around tuition and the $22,895 living-expense figure rather than counting on part-time income.
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This page is based on law and policy published by the Government of Canada.