For a Canadian student visa in 2026, you need to show a minimum of CAD 35,000 to CAD 45,000 — covering your first year's tuition, living expenses based on IRCC's updated LICO figures, and return travel costs. The exact amount depends on your program, province, and whether you're applying under SDS or the regular stream.
Here's the full breakdown.
The exact amount you need to show depends on which part of Canada you're planning to study in. However here is an approximate expense breakdown:
| Expense | Estimated Amount (CAD) |
|---|---|
| Tuition (Diploma/PG Certificate – per year) | CAD 12,000–20,000 |
| Living Expenses (LICO 2026 – Outside Quebec) | CAD 20,635 |
| Return Airfare (Estimated) | CAD 2,000–3,000 |
| Minimum Total Funds Required | CAD 35,000–45,000 |
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If you're applying under the Student Direct Stream (SDS) — which most Indian students do, because it's faster — the fund requirement works differently.
Under SDS, you don't show living-expense funds on bank statements. Instead, you must open a GIC (Guaranteed Investment Certificate) of CAD 20,635 with a designated Canadian bank before submitting your application.
A GIC is a fixed deposit you make with a Canadian bank. The bank holds the amount and releases it to you in monthly instalments after you arrive in Canada — essentially proving to IRCC that your living costs are secured.
Important: GIC processing takes 2–3 weeks. Start early — you can't submit your study permit application without the GIC certificate in hand.
Full SDS fund requirement in 2026:
| Requirement | Amount (CAD) |
|---|---|
| GIC (living expenses) | CAD 20,635 |
| First year tuition (paid upfront) | CAD 12,000 – 20,000 |
| Return travel | CAD 2,000 – 3,000 |
| Total | CAD 35,000 – 44,000 |
If you don't qualify for SDS, you apply under the regular stream. Processing takes longer (8–12 weeks), and you must show the full funds through bank documents — no GIC required, but IRCC will scrutinise your statements closely.
What you need to show:
| Expense | Amount (CAD) |
|---|---|
| First year tuition | CAD 12,000 – 20,000 |
| Living expenses (LICO 2026) | CAD 20,635 |
| Return travel | CAD 2,000 – 3,000 |
| Total | CAD 35,000 – 45,000 |
If you're bringing a spouse or dependents, you must show funds based on your total family size — not just the single-person figure.
| Family Size | Annual LICO (CAD) | Monthly (CAD) |
|---|---|---|
| 1 person | CAD 20,635 | ~1,720 |
| 2 persons | CAD 25,687 | ~2,141 |
| 3 persons | CAD 31,568 | ~2,631 |
| 4 persons | CAD 38,346 | ~3,196 |
| 5 persons | CAD 43,482 | ~3,624 |
| 6 persons | CAD 49,025 | ~4,086 |
| 7+ persons | CAD 54,570 | ~4,548 |
Most provinces, such as Ontario, British Columbia, Alberta, Manitoba, and Nova Scotia follow the federal LICO figures. The living expense requirement in these provinces is CAD 20,635/year. Quebec is the exception.
Quebec sets its own cost-of-living thresholds through MIFI (Ministère de l'Immigration, de la Francisation et de l'Intégration). Students going to Quebec must:
The living expense (LICO) figure jumped significantly from 2024 to 2025 and holds steady in 2026. If you're using old estimates, your numbers are wrong.
| Requirement | 2025 | 2026 |
|---|---|---|
| LICO (single student) | CAD 17,968 | CAD 20,635 |
| GIC amount (SDS) | CAD 20,635 | CAD 20,635 (unchanged) |
| Tuition upfront (SDS) | Full year | Full year |
| PAL (Provincial Attestation Letter) | Required | Required |
Q1. How much money do I need to show for a Canada student visa in 2026?
Most Indian students need to show between CAD 35,000 and CAD 45,000 — covering first-year tuition (CAD 12,000–20,000), living expenses (CAD 20,635 as per LICO 2026), and return travel costs. SDS applicants must also open a GIC of CAD 20,635 before applying.
Q2. What is the GIC requirement for Canada student visa 2026?
SDS applicants must open a Guaranteed Investment Certificate (GIC) of CAD 20,635 with a designated Canadian bank before submitting their study permit application. The bank releases the amount in monthly instalments after you arrive in Canada.
Q3. Has the fund requirement changed in 2026 compared to 2025?
The LICO-based living expense figure increased from CAD 17,968 (2025) to CAD 20,635 (2026). The GIC amount remains the same. Tuition upfront payment requirement under SDS continues.
Q4. Do I need to show funds separately if my tuition is already paid?
Yes. Paying tuition upfront is a requirement under SDS, but IRCC still requires proof that you can cover living expenses. Under SDS, this is satisfied by the GIC. Under Non-SDS, you show it through bank statements.
Q5. Can I use a fixed deposit as proof of funds?
Yes, for Non-SDS applicants. A fixed deposit certificate from a recognised bank is acceptable as long as the funds are accessible and the maturity date lines up with your study start.
Q6. What are the funding requirements if I'm going to Quebec?
Quebec has separate rules set by MIFI. The CAQ must be approved before your federal study permit application, and living expense requirements differ from federal LICO figures. Check the MIFI website for current amounts.
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Disclaimer: The tuition fees, living expenses, and other costs mentioned above are estimated figures for informational purposes only. Actual expenses may vary depending on the university, program, location, exchange rates, and changes in government or institutional policies. Fees and financial requirements are subject to change at any time without prior notice. Always verify the latest information with the respective university and official Canadian immigration authorities before applying.
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