For a Canada student visa (Study Permit), you must show proof of sufficient funds to cover your first year’s tuition fees plus living expenses for yourself and any accompanying family members.

Minimum Proof of Funds for Canada Student Visa (2024/2025 Update)

For students (outside Quebec):

You must show you have enough money for:

- Tuition fees for your first year (as per your university/college admission letter)
- Living expenses:
CAD $20,635 for one year (as per IRCC update effective January 1, 2024)
- Return transportation:
Enough funds for a return ticket home (usually not strictly checked, but advisable to show some extra funds)

Sample Calculation (Single Student, Outside Quebec):

- Tuition Fee: (e.g., CAD $18,000 per year)
- Living Expenses: CAD $20,635 per year
- Total Required Bank Balance:
CAD $38,635 (approx. tuition + living expenses)

If you bring family members:

- Additional fund requirements:
- First accompanying family member: CAD $4,000
- Each additional family member: CAD $3,000

How to Show Proof:

- Recent bank statements (past 4-6 months)
- Education loan sanction letter (if applicable)
- GIC (Guaranteed Investment Certificate) – especially for SDS applicants (CAD $20,635 in GIC)
- Scholarship letters (if applicable)

Note:

- The exact amount may vary slightly depending on your tuition fee and whether you’re applying under the SDS (Student Direct Stream) or regular stream.
- Some provinces (like Quebec) have different requirements.

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Need help calculating your exact required bank balance or preparing your financial documents for a Canada visa?
Contact Pollster Education for personalized guidance:

- Address: 8, Alankar Building, 1st Floor, Balaram Street, Above Bank of India, Grant Road (E), Mumbai
- Phone: +91 9324480791
- Email: info@pollstereducation.com

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