To study in Canada, you must show proof of sufficient funds to cover your tuition fees, living expenses, and return transportation for yourself and any accompanying family members.

As of 2024, the minimum proof of funds required by Immigration, Refugees and Citizenship Canada (IRCC) is:

1. Living Expenses ("Cost of Living Requirement")

- Student (outside Quebec): CAD 20,635 per year (effective from January 1, 2024)
- First family member (spouse or partner): CAD 7,720 per year
- Each additional accompanying family member: CAD 3,860 per year

2. Tuition Fees

- Varies by university and program. You must show funds to cover the first year’s tuition (or the full program amount if less than a year).

3. Return Transportation

- You should also demonstrate you can afford travel to and from Canada (usually a flight ticket, but a specific amount is not mandated).

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Example Calculation (Single Student, 1 Year Program):
- Tuition fees (example): CAD 18,000 (may vary by program/university)
- Living expenses: CAD 20,635
- Total proof of funds needed: CAD 38,635

If you are bringing family, add CAD 7,720 for your spouse and CAD 3,860 for each child.

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Acceptable Forms of Proof of Funds

- Bank statements (last 4-6 months)
- Guaranteed Investment Certificate (GIC) – especially for SDS applicants
- Proof of paid tuition and housing fees
- Education loan from a recognized financial institution
- Bank draft in convertible currency
- Proof of funding paid from within Canada (scholarship, Canadian-funded program)

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Need help calculating your exact required proof of funds or preparing your financial documents?
Contact Pollster Education for personalized assistance:
- Call: +919324480791
- Email: info@pollstereducation.com
- Visit: 8, Alankar Building, 1st Floor, Balaram Street, Above Bank of India, Grant Road (E), Mumbai.

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