If you are applying for a Canadian study permit, one of the first things an officer checks is whether you can support yourself without working in Canada. For applications submitted on or after 1 September 2026, a single applicant studying outside Quebec must show at least $23,448 for living expenses. The previous amount was $22,895.
That figure is often read as the total amount you need. It is not.
What the figure covers, and what it doesn’t
IRCC requires you to show that you can pay for three separate things:
- tuition for your program
- living expenses for yourself and any family members coming with you
- transportation to and from Canada for you and those family members
The $23,448 covers only the living expenses of one person for one year. Tuition and travel are on top of it.
For programs longer than one year, you need to show that your first year’s tuition is paid or covered, and explain how you will fund the years after that.
If family members are coming with you, the living expense amount rises with each person. IRCC publishes the full table on its proof of financial support page and updates it every year, so check it close to the date you apply.
Which amount applies to you
The date you submit your application decides which amount applies:
- Submitted before 1 September 2026: assessed against $22,895.
- Submitted on or after 1 September 2026: assessed against $23,448.
When you received your letter of acceptance or provincial attestation letter makes no difference. If you prepared your documents over the summer and are only submitting now, update them to the new figure.
Quebec is different. Students going to Quebec must meet the financial requirements set by the Quebec government, which are separate from IRCC’s table.
Reaching the number is not the same as proving it
Showing the right balance is only part of the test. Officers look at where the money came from and whether it is actually available to you. Applications commonly run into trouble for reasons such as:
- a large deposit made shortly before applying, with no explanation
- a sponsor whose income does not support the amount they say they are providing
- statements that show a balance but no history
IRCC accepts several kinds of evidence, including:
- a GIC from a participating Canadian bank
- bank statements covering the past six months, including the month you submit your application or the month before
- proof of a student or education loan
- scholarship or funding letters
- proof of tuition and housing payments
- a letter from the person or institution supporting you, backed by evidence of their means
Whatever you use, the documents should tell a consistent story.
This is a different requirement from the settlement funds needed for Express Entry, which we cover in our proof of funds guide.
If your application was refused on financial grounds
A refusal citing insufficient funds often turns on how the evidence was presented, not only on the amount. Before reapplying, read the refusal reasons closely and consider requesting your GCMS notes to see the officer’s full assessment. Our post on study permit refusals walks through the options.
How Kabir & Alam can help
If you are preparing a study permit application or dealing with a refusal, book a consultation and we can review your financial evidence before you submit.