Study Permit Living Funds: How Much Money You Must Show
To get a study permit you must prove you have enough money, without working in Canada, for tuition, living costs and travel home. IRCC sets the living amount each year. We check your documents and the source of your money before you apply.
since 1991
How much money do you need to show?
You must show tuition, living costs for you and any family with you, and travel to and from Canada, for the first year of your studies. For applications received on or after September 1, 2026, the living amount outside Quebec is CAD$23,448 for one person. These amounts do not include tuition or travel, and IRCC updates them each year (IRCC).
What counts as proof of funds?
IRCC accepts many kinds of proof: tuition and housing receipts, a student loan, a scholarship, pay stubs, a sponsor letter with proof of their income, a Canadian bank account, a GIC and recent bank statements with the source of the income. For longer programs, you must also explain how you will pay the full cost. See our posts on financial requirements, study costs and bank statements, and our study permit guide.
Key rules at a glance
- First year: show enough for tuition, living costs and return travel for your first year.
- Full program: for programs longer than a year, explain how you will pay the rest.
- Source matters: IRCC checks the amount and where the money came from, and whether you can use it for your whole stay.
- Quebec: to get a CAQ you must meet the amounts set by Quebec’s immigration ministry.
Which situation matches yours?
Pick the situation that matches yours below.
Your funds file is strong if
- The money has a clear source, such as savings, a loan, a scholarship or a sponsor.
- Your bank statements for the last 6 months show steady income or deposits.
- Your documents are consistent with each other.
Fix your file first if
- A large deposit just appeared: explain where it came from.
- A sponsor funds you: include their letter, relationship, dependants, income proof and ID.
- Your country limits exports of funds: prove you may send the money abroad.
See the Study in Canada hub, the study permit guide and the study permit refused guide.
Why funds problems cause refusals
Five problems cause most trouble. Source: IRCC.
Amount too low
The money must cover tuition, living costs for everyone with you, and return travel for the first year.
Source unclear
Bank statements should show where income or transfers came from. A large unexplained deposit raises doubt.
Sponsor proof missing
A sponsor letter should state their job, relationship to you, dependants and support amount, with ID or business registration.
No plan for the full program
For programs over a year, you must explain how you will pay for the full length of your studies.
Funds cannot be moved
If your country has foreign exchange controls, you must prove you are allowed to export the funds.
Not sure your funds will pass?
We review your documents and the source of your money before you file.
Timing you cannot miss
Amounts change by application date
IRCC lists different living amounts for applications received before and after September 1, 2026. Check the table for your date before you apply.
IRCC lists bank statements for the past 6 months, including the month you apply or the month before, with proof of the income source.
For programs longer than a year, include proof that you can pay for the full length of your studies, such as a scholarship over a year or a parent’s employment.
Documents to gather
Use what fits your situation. Start with these.
How to prepare your funds, step by step
Six stages from your budget to your application.
Add up the costs
Add tuition, living funds for your family size and return travel.
Pick your sources
Savings, loan, scholarship, sponsor or a mix.
Gather proof
Use bank statements, letters and receipts that show the source.
Explain gaps
Add a note for large deposits or sponsor support.
Plan the full program
Show how you will pay beyond year one.
Upload and apply
Attach everything to your study permit application.
Study costs
From IRCC pages. Last updated: October 2026.
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Proof of funds FAQs
How much money do I need for a Canadian study permit?
You need enough for tuition, living costs and return travel for your first year. For applications received from September 1, 2026, living costs outside Quebec start at CAD$23,448 for one person. IRCC updates the amounts each year.
What is the amount for a family?
IRCC lists CAD$29,192 for 2 people, CAD$35,888 for 3, CAD$43,572 for 4, CAD$49,419 for 5, CAD$55,736 for 6 and CAD$62,054 for 7. Each extra person adds CAD$6,318. These do not include tuition or travel.
What about Quebec?
To get a CAQ and study in Quebec, you must show you can cover the costs set by the Quebec immigration ministry. Check the Quebec requirements with your school.
What documents prove my funds?
Examples include a tuition receipt, a student loan, a scholarship, pay stubs, a sponsor letter with income proof, a Canadian bank account, a GIC and your bank statements for the past 6 months. You do not need all of them.
Can a family member or friend fund my studies?
Yes. Their letter should state their job, their relationship to you, their dependants and the support amount, with proof of the relationship and a copy of their ID or business registration.
Do bank statements need to show the source of money?
Yes. IRCC says the statements should include documents that show the source of the income, such as employment income or savings transfers.
Do I need to show funds for the whole program?
For programs longer than a year, you must tell IRCC how you plan to pay for the full length. You must show funds for the first year. For example, show a scholarship longer than a year or proof that your parents are employed.
Does a scholarship cover everything?
Only if it covers all costs. If it covers tuition only, you must also show money for living and travel.
Can I work to meet the funds requirement?
No. IRCC says you must prove you have enough money without working in Canada.
Are the amounts the same every year?
No. IRCC updates the living expense amounts each year, and applications before and after September 1, 2026 use different tables.
Do I need funds again when I extend?
IRCC assesses whether you have enough money to keep supporting yourself while you study when you extend. Keep your records current. See our extend or change guide.
What if my application is refused for funds?
You can reapply with stronger proof and a new PAL, or ask the Federal Court to review the decision. See our study permit refused guide.