One of the essential criteria when applying for a study permit is to provide proof that you have sufficient funds to support yourself while studying and staying in Canada without relying on income earned within the country. The evidence of funds must demonstrate that the student can pay the tuition fees for the program chosen. It must also prove that the student can cover the living expenses in Canada for international students. The living cost includes food, accommodation, transportation, and other personal expenses. In addition, if any family members, such as spouse or dependent children, are accompanying and staying in Canada, then the applicant must show that they have funds to meet the expenses of the family members as well.
You must also have enough money to travel to and from the country for both you and your accompanying family members. Proving that you can support yourself reassures the immigration officers that you will not face financial difficulties or seek unauthorized employment while you are in Canada. You must have proper documents ready for your study permit application. Canada study permit financial requirements 2025 are discussed further below.
This is not an exhaustive list of documents required for proof of funds Canada student visa, but rather the common Canada study visa financial support checklist that are typically submitted to support your application. You should also explain how you plan funds for the entire program, not just the first year, to demonstrate that you have a reliable and sustainable financial plan for the duration of your stay in Canada.
Students who plan to study and stay in any Canadian province or territory other than Quebec must provide proof that they have sufficient funds to cover their living costs. The amount discussed here refers to the cost incurred by the applicant for study permit applications submitted on or after September 1, 2025, excluding tuition and transportation costs. An applicant must demonstrate proof of at least $22,895 for one year. For two people, including the applicant and a family member, the required amount increases to $28,502; for three, it is $35,040. For a family of four, the amount increases to $42,543, and for a family of five, it rises to $48,252. The amount thus increases with the addition of more members.
The amount differs for study permit applications submitted between January 1, 2024, and August 31, 2025. An applicant must have at least $20,635 available for a period of one year. For two people, including the applicant and a family member, the cost is $25,690; for three, it is $31,583. If there are four people, then the amount is $38,346, and a family of five requires $43,492. With additional members, the expenses thus continue to increase.
To receive a Quebec Acceptance Certificate and study in Quebec, applicants must have enough funds to meet the expenses specified by the Ministère de l’Immigration, de la Francisation et de l’Intégration.
With proper financial planning, your dream of studying in Canada is within reach. Contact ImmiLaw Global today to clarify all your doubts and prepare for your studies in Canada. We will help you with financial planning and assist you in moving forward with your application.
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Proof of financial support demonstrates that you have sufficient funds to cover your tuition fees, living expenses, and travel costs to and from Canada for your studies. It’s a mandatory requirement for your study permit application.
As per the latest IRCC update (2025), you must show funds covering tuition fees + CAD 20,635 per year for living expenses (for one student outside Quebec). Additional funds are required if you bring family members.
You can provide any of the following:
Sponsors can include parents, guardians, close relatives, or a recognized organization that provides scholarships or funding. You must include supporting financial documents and a sponsorship letter.
A Guaranteed Investment Certificate (GIC) is a deposit made in a Canadian bank (usually CAD 20,635 for 2025). It’s mandatory for SDS (Student Direct Stream) applicants but optional for non-SDS routes.
Your bank statement should cover the last 4 months and show a stable balance to prove you can afford tuition and living expenses in Canada.
Yes. You can submit a sanctioned education loan letter from a recognized bank showing that the loan covers your tuition and living costs in Canada.
If you cannot prove financial stability, your study permit may be refused. Always ensure all supporting documents clearly show access to sufficient, legitimate funds.
Yes. If you’ve received a scholarship, bursary, or teaching/research assistantship, provide the official award letter mentioning the amount and duration of funding.
ImmiLaw Global assists students in preparing accurate financial documentation, arranging GIC accounts, and ensuring visa-ready compliance as per IRCC standards—maximizing your approval chances.
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