How much you need to show
For study permit applications received on or after September 1, 2026, IRCC expects a student studying outside Quebec to show:
| Who | Living costs per year |
|---|---|
| The student | $23,448 |
| Each family member who comes with you | $6,318 |
On top of living costs you must show you can pay your first year of tuition and travel to and from Canada. A student with $25,000 tuition, for example, would plan for roughly $23,448 + $25,000 + about $1,500 in flights — close to $50,000.
Applications received before September 1, 2026 used the previous amount of $22,895. Quebec sets its own amounts.
These are minimums for the application. Real living costs in Metro Vancouver are often higher — use our cost calculator to compare.
What counts as proof
IRCC accepts a range of documents. Strong applications usually combine more than one:
- a Guaranteed Investment Certificate (GIC) from a participating Canadian bank
- bank statements for the past four months, showing a steady balance
- proof of a student or education loan from a financial institution
- receipts showing you’ve already paid tuition or housing fees
- a scholarship or funding letter from your school or a government
- a letter from a person or school providing you money, with proof of their funds
Large deposits that appear just before you apply can raise questions. Be ready to explain where the money came from — a sale of property, savings, a family gift — with documents.
Do you need a GIC?
No longer strictly. The Student Direct Stream (SDS), which required a GIC, ended in November 2024. A GIC is now optional, but it’s still one of the clearest ways to prove living-cost funds because:
- the money is already in Canada, in your name
- the bank confirms the amount directly
- it gives you a steady monthly income for your first year
Compare current programs (fees, payout schedules) in our student GIC comparison.
Planning beyond year one
IRCC only asks about your first year, but your school may ask how you will pay for the full program, and you’ll need the money either way. Remember that:
- international tuition at many BC schools rises each year (UBC caps increases at 3% a year for students starting in 2026/27)
- part-time work is limited to 24 hours a week during classes — useful, but not enough to cover tuition
- once you’re enrolled in MSP you also pay a $75 monthly BC health fee
Next steps
Add your funds deadlines to a personal timeline with our arrival checklist, or read how GIC programs compare.