For Canada, international students applying for a Canadian Study Permit must show proof of sufficient funds to cover both tuition fees and living expenses (also called "proof of funds" or "financial capacity").

As per the latest IRCC (Immigration, Refugees and Citizenship Canada) update (from January 1, 2024):

Minimum Living Expenses (Outside Quebec)

- CAD $20,635 per year for a single student
- For each accompanying family member:
- First family member: CAD $7,000 per year
- Each additional family member: CAD $3,500 per year

Example: Funds Required for One Student (without family)

- First year’s tuition fee (varies by institution/program)
- Living expenses: CAD $20,635
- Return transportation (usually covered within the above funds, but having extra for flight tickets is recommended)

How to Show Proof of Funds

- Bank statements (last 4-6 months)
- Education loan sanction letter
- GIC (Guaranteed Investment Certificate) – mandatory under the SDS (Student Direct Stream): Minimum CAD $20,635
- Proof of paid tuition and accommodation fees
- Scholarship or funding letter (if applicable)

Note: If you are applying through the Student Direct Stream (SDS), you must purchase a GIC of at least CAD $20,635.

Quebec has separate requirements – let me know if you wish to know about studying in Quebec!

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Would you like details on the types of acceptable funds, or guidance on how to arrange and document them for your application?