Canadian study permit financial requirements
What IRCC expects you to show, how the GIC works, and how to build a clean financial history.
Check my financial planLast updated 29 September 2026Figures checked against official sources, listed at the end
How much you must show
| First-year tuition | As on your letter of acceptance, less anything already paid |
|---|---|
| Living costs, one person | CAD 23,448 (applications from 1 September 2026) |
| Family members | Extra amounts for each person coming with you |
How the GIC works
A Guaranteed Investment Certificate is a deposit with a participating Canadian bank. You pay CAD 23,448 plus a bank fee of about CAD 150 to 200, and the bank releases the money to you in monthly instalments after you arrive. It shows IRCC you have living costs covered, but it is not your only evidence.
Build a clean financial history
- Since the Student Direct Stream closed, expect to show 4 to 6 months of bank statements.
- Explain where the money came from, such as salary, business income or a property sale, with documents.
- Avoid large, sudden deposits just before applying.
- Keep your sponsor’s documents consistent with your letter of explanation.
Official sources
- IRCC: proof of financial support ↗Checked 2026-09-29 · next review 2026-10-29
These are dated editorial checks, not a live data feed. Recheck the original page before applying or paying.
About this guide. Researched by the Student Visa From Bangladesh editorial team from the official sources listed above and last checked on 29 September 2026. We are not a university or a government agency, and admission and visa outcomes are never guaranteed. Read our editorial policy.