What Finances Do I Need To Study In Canada As An International Student?

International students wishing to study in Canada must prove set levels of unencumbered available funds to cover tuition and living expenses to secure a Canada Study Permit.

You can prove funding with:

Proof of your Canadian bank account showing money you have transferred.
Guaranteed Investment Certificate (GIC) from a Canadian bank.
Proof of a student or education loan from a bank.
Your bank statements for the past four months.
A bank draft that can be converted to Canadian dollars.
Proof you paid for tuition and housing.
A letter from a person or school giving you money.
Proof of funding paid from within Canada, if you have a scholarship or are in a Canadian-funded educational program.

Tuition can vary significantly between institutions and study programs.

In addition to tuition, you must have adequate living expenses, calculated as follows:

Funds Required Outside of Quebec

Persons coming to Canada	Funds required per year (in addition to tuition)	Funds required per month (in addition to tuition)
Yourself	$10,000	$833
With a family member	$4,000	$333
Any additional family member	$3,000	$255

Funds Required Within Quebec

Persons coming to Canada	Funds required per year (in addition to tuition)	Funds required per month (in addition to tuition)
Yourself	$11,000	$917
First family member (18 years or older)	$5,100	$425
First family member (under the age of 18)	$3,800	$317
Every additional accompanying family member (18 years or older)	$5,125	$427
Every additional accompanying family member (under the age of 18)	$1,903	$159

How to Calculate Final Amount

Example: Tuition + $10,000 (student) + $4,000 (spouse)

Total proof of funds needed: Tuition + $14,000

Colin Singer

Colin Singer is an international acclaimed Canadian immigration lawyer and founder of immigration.ca featured on Wikipedia. Colin Singer is also founding director of the Canadian Citizenship & Immigration Resource Center (CCIRC) Inc. He served as an Associate Editor of ‘Immigration Law Reporter’, the pre-eminent immigration law publication in Canada. He previously served as an executive member of the Canadian Bar Association’s Quebec and National Immigration Law Sections and is currently a member of the Canadian Chapter of the American Immigration Lawyers Association. Colin has twice appeared as an expert witness before Canada’s House of Commons Standing Committee on Citizenship and Immigration. He is frequently recognized as a recommended authority at national conferences sponsored by government and non-government organizations on matters affecting Canada’s immigration and human resource industries. Since 2009, Colin has been a Governor of the Quebec Bar Foundation a non-profit organization committed to the advancement of the profession, and became a lifetime member in 2018.