Study permit: you must now show $23,448 for living
📘 Related guide: Budgeting as a couple with separate bank accounts
Studying in Canada starts with a money question: can you pay for your stay? Immigration, Refugees and Citizenship Canada (IRCC) updated the amount you need to prove for a study permit. Here is what changed and what it means for your budget.
What happened
IRCC's page on proof of financial support (last updated Aug. 28, 2026, and read on Oct. 14, 2026) lists how much money you must show for living costs. "Proof of funds" simply means documents that show you can pay your way without relying on a job.
The amount depends on how many people are in your household, you included. For applications sent on or after Sept. 1, 2026, the yearly living amounts are:
- 1 person: $23,448 (before: $22,895)
- 2 people: $29,192 (before: $28,502)
- 3 people: $35,888 (before: $35,040)
- 4 people: $43,572 (before: $42,543)
The "before" amounts applied to applications from Jan. 1, 2025 to Aug. 31, 2026. These figures do not include tuition or transportation, which you must prove separately. IRCC says the amounts are updated each year. Quebec has its own rules, set by the Quebec government.
How it affects you
The living amount is only one piece. Your total is tuition + living costs + travel. Here is an illustrative example. These are assumptions, not official figures: a single student with one year of tuition of $18,000 and $1,500 for travel.
- New rule: $23,448 + $18,000 + $1,500 = $42,948
- Old rule: $22,895 + $18,000 + $1,500 = $42,395
- Difference: $553 more, about 2.4%
For a household of 3 (for example, a student with a spouse and a child), the living portion rises from $35,040 to $35,888. That is $848 more, before tuition and travel.
What you can do
- Check IRCC's page for the amount that matches your application date and household size.
- Ask your school for the first-year tuition receipt or fee statement, because that number is part of your total.
- Start collecting documents early. IRCC lists examples such as a Canadian bank account in your name, a Canadian guaranteed investment certificate (GIC), a bank loan letter, or six months of bank statements.
- If someone supports you, IRCC asks for a letter describing their job, their relationship to you and the amount, plus recent pay stubs.
What to keep in mind
The date you apply decides which table is used, not the date you start classes. The amounts are the minimum for living costs; meeting them does not guarantee approval, and officers may ask for other documents. If your country has foreign exchange controls, you also need to show you can send the money out.
This is general information, not legal advice. For your own case, check with IRCC or a regulated immigration consultant (RCIC) or lawyer.
Sources
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Information checked against the sources listed above on October 14, 2026. Educational information, not financial, tax or legal advice.
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