If you plan to study in Canada without a scholarship, the most important number on your checklist just changed. For study permit applications submitted on or after 1 September 2026, a single applicant must show at least CAD $23,448 for living expenses, up from CAD $22,895. This guide explains what the new requirement means, what it does not include, and how to prepare your funds, whichever country you are applying from.
Always confirm the current figure on the official IRCC (Immigration, Refugees and Citizenship Canada) website before you apply, because the amount is reviewed every year.
The new Canada proof-of-funds amounts
These amounts apply outside Quebec for applications submitted on or after 1 September 2026, according to immigration news reports and university international offices such as Simon Fraser University.
| People (including the applicant) | Minimum living-expense funds (CAD) |
|---|---|
| 1 (single applicant) | $23,448 |
| 2 | $29,192 |
| 3 | $35,888 |
| 4 | $43,572 |
| 5 | $49,419 |
| 6 | $55,736 |
| 7 | $62,054 |
| Each additional person | $6,318 |
The single-applicant figure is $553 higher than the previous amount of $22,895 that applied from 1 September 2025 to 31 August 2026.
What the amount does not include
This is the point many students miss. The living-expense figure is separate from tuition and travel. Applicants must also show that they can pay:
- the first year of tuition (or proof that it has already been paid),
- travel costs to and from Canada for themselves and any accompanying family members.
If your programme is longer than one year, be ready to explain how you will cover the remaining years.
A simple way to calculate your total budget
Total funds to show = living-expense minimum + first-year tuition + travel.
For a single applicant, that means CAD $23,448 plus your university’s first-year tuition plus a return flight. Tuition varies a lot by university and programme, so use the figure on your offer letter, not an average from a blog.
Who this applies to
- New applicants applying for a study permit from outside Canada.
- Current students applying to extend their study permit from within Canada, according to the SFU notice.
- Applicants for study anywhere in Canada except Quebec, which has separate financial requirements.
Applications received before 1 September 2026 are assessed under the earlier amount.
How to show your funds
Commonly accepted evidence includes:
- a Canadian bank account in your name with transferred funds,
- a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution,
- recent bank statements showing the money has been available,
- a bank draft that can be converted to Canadian dollars.
Moving2Canada notes that the funds must genuinely be available to you and that borrowed money cannot be used to meet this requirement. Check IRCC’s list of accepted documents for the exact rules that apply to you.
Tips to avoid a refusal
- Do not aim for the exact minimum. Keep a buffer in case exchange rates change before you apply.
- Explain large deposits. Sudden, unexplained amounts in a bank account raise questions. Keep records such as sale documents or gift letters.
- Match your documents. Names, dates and account details should be consistent across your application.
- Apply with the right year’s figure. Check the amount on the day you submit.
- Plan the timeline. Transfers and GIC setup can take time, so start before your offer deadline.
Frequently asked questions
Does the new amount apply to everyone, whatever country I am from?
Yes. The proof-of-funds requirement is the same regardless of nationality, but visa rules and accepted documents can differ by country of application, so check IRCC’s guidance for your location.
Is the amount per year?
Yes. The living-expense figure is an annual minimum, and IRCC updates it every year based on the cost of living.
Does this include tuition?
No. Tuition and travel are additional requirements.
What if I apply for Quebec?
Quebec has its own financial requirements. Check the Quebec immigration website for the current figures.
Can a sponsor or family member provide the funds?
Funds can sometimes come from a parent or sponsor, with supporting documents. Confirm the accepted evidence on the IRCC website.
Next steps
Planning a self-funded move abroad can feel overwhelming. Use the free profile assessment on Hum Scholars to compare destinations that match your budget, read our study destinations guide, look at scholarship options that could reduce your costs, or contact us for help preparing your application.
Sources: CIC News; Moving2Canada; Simon Fraser University ISAP; IRCC: study permit documents.