Canadian Study Permit Funds: CAD 23,448 Living Costs, Bank Records and Family Support

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For applications from September 1, 2026, the first-year minimum living-expense amount outside Quebec is CAD 23,448 for one person. Tuition and transportation are additional. A balance slightly above that figure does not establish that the full study plan is affordable: explain the money's source, availability and ability to cover the household without relying on work in Canada.

Calculate the appropriate household amount

IRCC's table includes the applicant and relevant accompanying family members. The current annual living amounts outside Quebec are CAD 29,192 for two people and CAD 35,888 for three. Larger households have their own figures. Do not assume that every additional person simply adds another single-person amount.

Add the actual tuition and transportation to the applicable living amount. For a multi-year program, explain how the longer period will be funded as required. Local rent and other real costs can exceed the immigration minimum. A government threshold is not a complete relocation quotation or evidence that a household will live comfortably on that amount.

Make the bank history understandable

The current official examples include Canadian or foreign bank statements for the past six months, including the submission month or the previous month, with documents showing income sources. A single balance screenshot may not explain how the money became available. Retrieve records early enough to clarify missing pages or unexplained transactions.

A six-month statement request does not automatically mean every dollar must remain untouched for six months. Explain genuine new earnings, savings transfers or other documented sources accurately. Avoid temporary borrowing presented as unencumbered personal savings. Where funds move between your own accounts, do not count the same money twice in a household summary.

Document family support as a real arrangement

Identify who will provide support, their relationship to the student, the amount and purpose, and the evidence of ability to pay. IRCC's examples address supporter information and relevant identity or business records. A parent's short promise should not replace the financial evidence needed to understand the arrangement.

If money comes from a family company, distinguish company assets, the individual's lawful access to funds and the actual amount committed. Revenue is not automatically available personal cash. Also account truthfully for other dependants and liabilities. Follow the applicable visa-office instructions rather than assuming every country uses an identical package.

Treat a GIC as financial evidence, not approval

IRCC lists a guaranteed investment certificate from a Canadian financial institution as one possible evidence option. It does not follow that every applicant must buy the same bank product. Review access to the money, release arrangements, charges and refund terms before choosing a product.

The word guaranteed in the financial product does not guarantee a study permit. A GIC also does not remove the need to explain where funds came from. If cash has moved from a bank account into the investment, identify that transfer clearly so the original account balance and the investment are not both presented as separate available funds.

Explain awards, currency and remaining costs

Read scholarship or loan documents to establish what is actually covered. Tuition-only support differs from support including living expenses and travel. Record outstanding tuition separately from amounts already paid, keeping genuine institutional receipts. Do not describe an expected award as confirmed before it has been issued.

For funds held in another currency, identify the currency and a transparent conversion basis for budgeting. Where exchange controls apply, IRCC requires evidence that the funds can be exported for the expenses. Quebec uses different financial requirements and should be checked separately. Government application charges, professional fees and document costs also remain distinct from the living-expense table; the submission should show a realistic, traceable plan rather than only a headline balance.