To apply for a Canada study permit, you must show proof that you have enough funds to cover:

1. First-year tuition fees (as per your university/college offer letter)
2. Living expenses for yourself and any accompanying family members
3. Return transportation for yourself and family members (if applicable)

Living Expenses Requirement (from January 1, 2024):

The minimum funds required (excluding tuition fees) are:

- Student: CAD 20,635 per year (outside Quebec)
- First accompanying family member (spouse/common-law partner): CAD 7,000 per year
- Each additional family member: CAD 3,500 per year

Example Calculation (One student, no dependents):
- Tuition Fees (as per offer letter): e.g., CAD 18,000
- Living Expenses: CAD 20,635
- Total: CAD 38,635

Note:
If you’re applying through the SDS (Student Direct Stream), you must purchase a GIC (Guaranteed Investment Certificate) of CAD 20,635 and pay the first year’s tuition fee in advance.

Proof of Funds Can Include:

- Bank statements (last 4-6 months)
- Education loan sanction letter
- GIC certificate (for SDS)
- Scholarship or funding letters (if applicable)
- Proof of payment of tuition and accommodation fees

Quebec Students:

Living expenses requirement is slightly different. Please let me know if you are applying to a Quebec institution for details.

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Do you want help with preparing your financial documents or selecting the right bank for your GIC? Pollster Education provides complete guidance!
You can reach us at +919324480791 or info@pollstereducation.com, or visit our office at Grant Road (E), Mumbai.