Study Permit Financial Requirements in 2026

Almost every study permit applicant must show money for three things: first-year tuition, travel, and a cost-of-living amount IRCC sets. For one person studying outside Quebec, that amount is $23,448 for applications made on or after September 1, 2026. It rises with each family member who comes with you, and Quebec sets its own amounts. An officer decides whether your proof is convincing.

Check the amount for your family with the Funds Calculator

Last verified: November 2026

$23,448
Cost of living for one person outside Quebec, applications from September 1, 2026
$29,192
The same amount with one family member coming with you
$22,895
The amount for applications from January 1, 2025 to August 31, 2026
IRPR s.220
The rule behind all three parts

These amounts cover living expenses only. Tuition and travel come on top. The Funds Calculator shows the amount for each family size.

How much money do you need to show?

The amount you must show is the sum of three things: a fixed cost-of-living amount for living expenses, your tuition for the first year of study, and the cost of transportation to and from Canada. The cost-of-living amount is the part IRCC sets and updates; tuition and travel are based on your own program and trip.

As published by IRCC, the cost-of-living amount for a single applicant studying outside Quebec is $23,448, for applications made on or after September 1, 2026. It replaced the $22,895 figure for applications from January 1, 2025 to August 31, 2026 because, in IRCC's words, the old amount hadn't kept up with the cost of living over time.

Tuition varies widely by program and institution, so two applicants can face very different totals even though the cost-of-living portion is the same.

The rule

Proof of funds has three parts: a set cost-of-living figure, your first year of tuition, and your travel to and from Canada.

IRPR s.220Verify on canada.ca

How much more do you need if family comes with you?

The cost-of-living amount scales up with each accompanying family member, because you are showing you can support them too. These amounts are for living expenses only and are still in addition to tuition and travel for the people coming with you.

Cost of living outside Quebec, applications from September 1, 2026
Who comes to Canada	Cost-of-living amount
The student alone	$23,448
With one family member	$29,192
With two family members	$35,888

The amount continues to rise with each additional person. IRPR s.220(b) sets the family rule.

Count the family members who will actually accompany you to Canada. A spouse or common-law partner and dependent children who join you are included; people who stay in your home country are generally not part of the calculation for the funds you must show. If a partner or child will now join you, your required amount goes up.

Are the amounts different in Quebec?

Quebec runs its own immigration selection for students, so it publishes its own financial requirements, separate from the amounts used for the rest of Canada. If you plan to study in Quebec, you typically face two stages: the Quebec Acceptance Certificate (CAQ) and the federal study permit, and you may need to show funds at both.

Quebec increased its proof-of-funds requirement substantially for 2026. Do not assume the $23,448 figure applies anywhere in the province. Check the amount set by the Quebec government, through the Ministère de l'Immigration et de l'Intégration (MII), for your situation and family size, in addition to the federal IRCC requirement.

What does IRCC accept as proof?

There is no single mandatory document. IRCC accepts a range of evidence, including:

bank statements for the past 6 months, including the month you apply or the month before, with documents that show the source of the money
proof of a Canadian bank account in your name, if you have transferred money to Canada
a Guaranteed Investment Certificate (GIC) from a Canadian financial institution
proof that you paid your first year of tuition and housing fees
a letter from a person or institution providing you money, such as a sponsor, scholarship or financial-aid letter
proof of a student or education loan from a bank

IRCC asks that a support letter state the giver’s employment, relationship to you, number of dependants and the amount, with proof of the relationship and of the support. IRCC may ask for other documents.

Is a GIC required, and who decides?

Since the Student Direct Stream ended on November 8, 2024, the GIC is no longer a mandatory item. It is now one optional way to show living-expense funds.

IRCC assesses the amount of your funds and their source, and confirms they are available to you throughout your studies. Whatever combination you use has to cover all three parts: the cost-of-living amount for your family size, your first-year tuition and travel. An officer decides whether your evidence is sufficient and can refuse the application if the proof does not convince them.

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What do people ask?

How much money do I need for a Canadian study permit in 2026?

You need three amounts added together: the cost-of-living amount, first-year tuition and travel. For one person outside Quebec, IRCC sets the cost-of-living amount at $23,448 for applications made on or after September 1, 2026. It rises with each accompanying family member, and Quebec sets its own amounts. IRPR s.220 is the rule behind all three parts. Confirm the current figure on canada.ca before you apply.

Does the $23,448 include my tuition?

No. The $23,448 cost-of-living amount covers living expenses only. You must show it on top of your first-year tuition and your travel costs to and from Canada. Because tuition varies widely by program and school, your total can be much higher than the cost-of-living figure alone. Our Student Cost of Living guide helps you budget the year beyond what IRCC asks you to prove.

What financial documents do I need for a study permit?

No single document is mandatory. IRCC accepts bank statements for the past 6 months (with the source of the money), a Canadian bank account with transferred funds, a GIC, proof of paid tuition and housing, a letter from a sponsor or a scholarship, and proof of a student loan from a bank. Most applications combine several of these. An officer decides whether the proof is enough. Our Study Permit Guide covers the rest of the application.

Can I use a financial support letter for a study permit?

Yes. A letter from a person or institution giving you money, such as a sponsor, scholarship or financial-aid letter, is on IRCC's list of accepted proof. IRCC asks that the letter state the giver's employment, relationship to you, number of dependants and the amount, with proof of the relationship and of the support. IRCC may ask for other documents. Our Study Permit Guide explains how the funds fit the whole application.

Did the study permit financial requirement increase in 2026?

Yes. For applications made on or after September 1, 2026, the cost-of-living amount for one person outside Quebec is $23,448, up from $22,895 for applications from January 1, 2025 to August 31, 2026. IRCC updates it each year; it set the 2024 amount at 75% of the low income cut-off. Tuition and travel still come on top. Our Study in Canada 2026 guide covers the other changes students face.

How much more do I need if my family comes with me?

The cost-of-living amount rises with each family member who comes with you. For applicants outside Quebec, IRCC sets $23,448 for the student alone, $29,192 with one family member and $35,888 with two, and it keeps rising. These amounts cover living costs only, on top of tuition and travel. Count only the people who will actually come with you. IRPR s.220(b) sets the family rule.

Are the rules different if I study in Quebec?

Yes. Quebec sets its own financial requirements, separate from the amounts for the rest of Canada, and it raised them substantially for 2026. You may need to show funds twice: for the Quebec Acceptance Certificate (CAQ) and for the federal study permit. Check the amount the Ministère de l'Immigration et de l'Intégration (MII) sets for your situation as well as the IRCC figure. Our Study Permit Guide explains the two stages.

Do I still need a GIC for my study permit?

No, a GIC is optional. It was mandatory under the Student Direct Stream, which ended on November 8, 2024. It is now one accepted way to show living-cost funds. Many students still use one because it shows secured money they can reach in Canada. Bank statements, loans, scholarship letters and proof of paid fees can also count. Our GIC for a Canada Study Permit guide explains how it works.

Part of:Studying in Canada Study permits

Official sources

This page is based on law and policy published by the Government of Canada.