Canada Study Permit Proof of Funds Calculator

For study outside Quebec: first-year tuition plus at least $22,895 CAD in living funds for a single applicant, under the IRCC table in force since September 1, 2025. The living amount rises with family size — $28,502 for two people and $35,040 for three — and IRCC updates the table annually, so always verify the current figure on the official site before applying. Travel costs come on top.

A GIC was never mandatory for the regular stream, and since IRCC ended SDS in November 2024 it no longer buys faster processing for anyone. That said, a Guaranteed Investment Certificate from a Canadian bank — typically $22,895, matching the single-applicant living minimum — is still one of the most convincing proofs of funds an officer can see, because the money is already in Canada and paid back to you monthly after arrival. The calculator lets you toggle it on or off and shows how it affects your total.

Yes, and not linearly. IRCC publishes a separate living-cost minimum per family size ($22,895 for one, $28,502 for two, $35,040 for three, and so on), so a second person adds about $5,600 while a third adds about $6,500. The calculator picks the correct row automatically from your spouse and children inputs, adds travel per person, and warns you if your GIC, living funds and buffer fall below the federal minimum for your household.

Commonly accepted evidence includes a GIC certificate from a Canadian bank, bank statements covering the past four months, an education loan approval or sanction letter, receipts for tuition and housing already paid, a sponsor letter with the sponsor's proof of income such as tax returns, and scholarship or funding award letters. The breakdown this tool copies or downloads ends with exactly this checklist so you can tick documents off as you gather them.

No — Quebec sets its own financial-capacity thresholds for the CAQ and study permit, separate from the federal $22,895 table. If you are heading to a Quebec institution, use this calculator for a realistic overall budget (tuition, travel, monthly living), but confirm the current Quebec minimums with the province before you apply.

Canada Study Permit Proof of Funds Calculator is 100% free — no signup, no watermarks and no usage limits. It’s one of 200+ free tools we build and give away.

No — it’s a free, accurate planning estimate. Always confirm final details with IRCC, the official Canadian authority.