Proof of funds required for Canada student visa (2026)

The Canada student visa, or study permit, is essential for international students wishing to study in Canada for programs longer than six months. It allows students to live and study in Canada legally. To apply, students must be accepted by a Designated Learning Institution (DLI) and demonstrate sufficient financial resources.

As of 2026, students must provide proof of funds amounting to CAD 20,635 for living expenses, in addition to their tuition fees. This amount is to ensure that students can support themselves financially during their studies. The funds must be readily available and can be shown through bank statements, financial support letters, or scholarship letters.

Tuition fees vary significantly depending on the program and institution. On average, international students can expect to pay between CAD 7,000 and CAD 29,000 per year. It is crucial to check with the specific institution for accurate tuition costs. Additional costs may include health insurance, books, and supplies.

Living costs can vary by city. For example, in Toronto, the average monthly budget ranges from CAD 2,500 to CAD 5,000, which includes rent, utilities, groceries, and transportation. A one-bedroom apartment in Toronto typically costs around CAD 1,800 per month. In contrast, living in cities like Vancouver or Montreal may have different cost structures.

To apply for a Canada student visa, you will need several documents, including:

• A valid passport
• Acceptance letter from a DLI
• Proof of sufficient funds
• Passport-sized photos
• Immigration medical examination results (if required)
• Police clearance certificate (if required)

Ensure all documents are in order to avoid delays in processing.

International students in Canada can work on-campus without restrictions and off-campus for up to 24 hours per week during academic sessions. This can help cover living expenses and gain valuable work experience. After graduation, students may also be eligible for a Post-Graduation Work Permit (PGWP).

Preparing for your move to Canada as a student involves understanding the financial requirements and ensuring you have the necessary documentation. Start by researching your chosen institution, estimating your total costs, and gathering your proof of funds. For more detailed information, visit the official IRCC website.