Must-have papers

Proof of Funds for a Canada Study Permit

A study permit is the paper that lets you study in Canada. The border officer gives it to you at the airport. To get one, you must show enough money for first-year tuition, a year of living costs and travel. Here is how much and which papers count.

MONEY PAPERS

CANADA STUDY PERMIT

PAPERS NEEDED

Bank statements

REQUIRED

Letter from the person who pays

IF SPONSORED

Education loan letter

IF APPLICABLE

Scholarship letter

IF APPLICABLE

Immigration, Refugees and Citizenship Canada (IRCC) is Canada's immigration office. For permit applications sent on or after 1 September 2026: CAD (Canadian dollars) 23,448 a year of living costs for one person outside Quebec, plus tuition and travel

How Much Money You Need

IRCC sets the living cost amount. Tuition and travel are extra.

Living Cost Amount Required (CAD)

Undergraduate

CAD 23,448 a year for 1 person, living costs only

for one student, plus first-year tuition and travel

Graduate

CAD 23,448 a year for 1 person, living costs only

for one student, plus first-year tuition and travel

Dependents

CAD 29,192 a year for 2 people, living costs only

for you and one family member, plus tuition and travel

What Your Proof Must Cover

Your proof must cover all three parts.

Tuition for your first year, as your school states it.
Living costs: CAD 23,448 a year for one person outside Quebec.
Travel to and from Canada for you and any family who come with you.

Important Notes

These amounts are for living costs only. Tuition and travel are extra.
They apply to applications sent on or after 1 September 2026, outside Quebec.
IRCC changes the amounts every year, so check again before you apply.
Pay from work in Canada does not count.

See Canada tuition fees See Canada living costs

Money Papers IRCC Accepts

These are examples. You do not need all of them, but together they must show you meet every part of the rule.

Bank statements

From a bank account in Canada or in another country

•
IRCC: the past 6 months, including the month you apply or the month before.
•
Show the source of the money, such as salary or savings.
•
Pakistan: the Islamabad visa office asks for the past 12 months.

Guaranteed Investment Certificate (GIC)

Money you lock in a Canadian bank

•
IRCC accepts a GIC from a Canadian bank or similar company.
•
At Scotiabank, a student GIC can be CAD 5,000 to CAD 50,000.

Education loan

From a bank

•
A letter that proves a student or education loan.

Scholarship letter

An award or funding

•
Shows the amount and how long it lasts.
•
If it covers tuition only, also show money for living costs and travel.

Other Papers You Can Use

Receipt showing you already paid first-year tuition and housing to your school
Pay slips (pay stubs) from your job
A letter from the person who pays. It says their job, how they are related to you, how many people they support and how much they will give
Proof of money from rent, or papers about a pension plan
India: your income tax papers and your parents' income tax papers for the past 2 years

What Your Papers Must Show

IRCC checks how much money you have, where it came from and whether it can pay for your whole course.

For Every Paper

Amount

Tuition, living costs and return travel for you and any family who come with you.

Source

IRCC checks where the money came from.

Translations

Papers not in English or French need a certified translation.

Money leaving home

Some countries limit how much money you can send out. If yours does, show proof that you may send enough.

Paper by Paper

Document Type	Requirements	Validity Period
Bank statements	Include the month you apply or the month before. Show where the money came from.	Past 6 months (IRCC). Pakistan: past 12 months (Islamabad visa office)
Sponsor letter (India)	How your studies will be paid. Your relationship to the sponsor. The sponsor's job and full contact details. How many people the sponsor supports. A letter from the sponsor's employer with its address.	-

Special Cases

•
Quebec: Only for Quebec: you also need a Quebec Acceptance Certificate (CAQ). The Quebec government has its own money rules for it.
•
Family coming with you: You need more money for each family member who comes with you. Two people need CAD 29,192 a year outside Quebec.

See all study permit requirements

When You Send Your Money Papers

You send your money papers with your study permit application. Students from India and Pakistan also need a visitor visa (temporary resident visa) to enter Canada. IRCC puts it in your passport when it approves your study permit.