If you are preparing a Canadian study permit application and you have read somewhere that you need “about CAD 10,000” in proof of funds, that number is years out of date. The current figure is more than double it, and an application built on the old amount does not meet the requirement.
This article sets out the current official figure, the full table by family size, and what an officer is actually looking at when they assess your money.
The current official figure
According to the Government of Canada’s proof of financial support page, applications submitted on or after 1 September 2026 for a destination outside Quebec must show CAD 23,448 for a single applicant to cover living expenses for the first year. Applications submitted between 1 January 2025 and 31 August 2026 fall under the earlier figure of CAD 22,895.
The point most applicants miss: this amount does not include tuition or return travel. Both have to be shown separately.
Full proof of funds table by family size
Amounts required per year, excluding tuition and travel costs:
For applications submitted on or after 1 September 2026:
- 1 person, the applicant alone: CAD 23,448
- 2 people: CAD 29,192
- 3 people: CAD 35,888
- 4 people: CAD 43,572
- 5 people: CAD 49,419
- 6 people: CAD 55,736
- 7 people: CAD 62,054
- More than 7 people: add CAD 6,318 for each additional person
For applications submitted between 1 January 2025 and 31 August 2026:
- 1 person, the applicant alone: CAD 22,895
- 2 people: CAD 28,502
- 3 people: CAD 35,040
- 4 people: CAD 42,543
- 5 people: CAD 48,252
- 6 people: CAD 54,420
- 7 people: CAD 60,589
- More than 7 people: add CAD 6,170 for each additional person
Figures published by IRCC at Proof of financial support. Quebec sets its own requirement.
These amounts are updated every year on 1 September, tracking Statistics Canada’s low income cut-off (LICO). The figure you see today will change next year, so check the official page on the date you actually file.
Quebec sets its own rule
If your destination is Quebec, this table does not apply to you. To obtain a Quebec Acceptance Certificate (CAQ) you have to meet the financial requirements set by the Quebec immigration ministry, which are separate from the federal amounts.
What counts as proof of funds?
The official page names several examples, and the list is not closed:
- Receipts showing tuition and housing paid for the first year, which are not enough on their own and need to sit alongside other evidence
- A Canadian bank account in your name, if you have already transferred money
- A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution
- Proof of a student or education loan from a bank
- Bank statements for the past four months, Canadian or foreign
- A bank draft convertible to Canadian dollars
- A letter from the person or institution funding your studies
Mistakes that undermine an application
- A sudden large deposit. Money that lands in the account a few days before filing, with no clear origin, raises questions rather than answering them. The officer looks at the source of the funds, not only the balance on the day.
- Forgetting tuition. CAD 23,448 is living costs only. If your first-year tuition is CAD 20,000, the total you need to evidence is closer to CAD 43,500.
- Ignoring accompanying family. If a spouse or child is coming with you, the single-applicant row is not your figure.
- Relying on non-liquid assets. Property and vehicles are not, by themselves, proof of available funds.
- Using an old number. For applications submitted between 1 January 2024 and 31 August 2025 the figure was CAD 20,635. That amount no longer applies.
Frequently asked questions
How much proof of funds does a Canadian study permit need?
For applications submitted on or after 1 September 2026, destined outside Quebec, a single applicant must show CAD 23,448 for first-year living costs, separate from tuition and travel. Applications submitted between 1 January 2025 and 31 August 2026 fall under the earlier figure of CAD 22,895.
Does the amount include tuition?
No. The figure covers living costs only. Tuition and return travel must be evidenced separately.
How much do I need if my spouse and child come with me?
CAD 28,502 a year for two people and CAD 35,040 for three, again excluding tuition and travel.
How many months of bank statements are required?
The official page lists bank statements for the past four months as acceptable evidence. What matters more than the number of months is whether the source of the money can be explained.
Is a GIC mandatory?
No, but it is one of the most widely accepted and simplest ways to evidence funds, particularly for applicants who want as few open questions in the file as possible.
When does the figure change again?
Every year on 1 September, in line with the Statistics Canada low income cut-off.
Summary
Proof of funds is one of the most common reasons a Canadian study permit application is refused, and it is almost always avoidable. Do two things before anything else: calculate the correct amount for the real number of people travelling with you and add first-year tuition on top; and make sure every sum sitting in your account is one you can explain the origin of.
If you are not confident the financial structure of your application holds up, have it reviewed by a Regulated Canadian Immigration Consultant (RCIC) before you file. The decision always rests with IRCC.
Sources
- “Proof of financial support” for a study permit, Government of Canada website
- Table of required amounts for applications submitted on or after 1 September 2025
