IRCC requires all study permit applicants to demonstrate they can support themselves financially during their studies in Canada.
| Component | Amount (CAD/year) |
|---|---|
| Living costs — single applicant (outside Quebec) | 22,895 |
| Living costs — Quebec | 14,549 |
| Spouse or common-law partner (additional) | 4,000 |
| Each dependent child (additional) | 3,000 |
| Tuition fees | First year in full (varies by programme) |
Source: IRCC (canada.ca — Study permit: Proof of financial support). Amount updated effective 1 September 2025.
Acceptable proof: Bank statements showing sufficient funds, a Guaranteed Investment Certificate (GIC), a letter from a Canadian institution confirming a funded scholarship, or a combination of these.
A Guaranteed Investment Certificate (GIC) is a Canadian investment that guarantees your deposit. For study permit purposes, you purchase a GIC before arriving, and the funds are released to you in monthly instalments after you arrive — essentially functioning as a forced savings plan for living expenses.
| Detail | Information |
|---|---|
| SDS GIC amount | CAD 20,635 |
| Required for | Study Direct Stream (SDS) applicants from 14 eligible countries |
| Regular stream | GIC optional — can use bank statements instead |
| Participating banks | Scotiabank, CIBC, ICICI Bank Canada, SBI Canada, RBC, BMO, TD, National Bank |
| Release schedule | Initial lump sum (~CAD 2,000) + monthly instalments |
| Refund if visa refused | Full refund minus admin fees (typically CAD 50–150) |
Source: IRCC (canada.ca — Study permit: Proof of financial support); participating bank GIC programme pages.
| Category | Monthly Range (CAD) | Notes |
|---|---|---|
| Accommodation (shared) | 800–1,400 | Room in shared apartment; varies widely by city |
| Groceries | 300–400 | Cooking at home; Asian grocers often cheaper for staples |
| Meal plan (university) | 400–600 | If living in residence with mandatory meal plan |
| Public transport | 47–130 | Vancouver U-Pass ~CAD 47; Toronto ~CAD 128 |
| Utilities (electricity, heat, internet) | 100–150 | Often included in residence; shared in private rentals |
| Health insurance (UHIP/equivalent) | 50–80 | Some provinces cover students; others require private plan |
| Mobile phone | 25–50 | Prepaid plans from Freedom, Fido, Koodo |
| Personal and entertainment | 100–250 | Clothing, social activities, gym |
Source: EduCanada (educanada.ca — Education costs); individual university cost-of-living guides.
Toronto is Canada’s largest city and most expensive student destination. Home to the University of Toronto, York University, Ryerson (TMU), and others, it offers the most job opportunities but comes with premium living costs.
| Category | Monthly Cost (CAD) |
|---|---|
| Shared accommodation (room in shared apartment) | 1,000–1,400 |
| University residence | 800–1,500 |
| One-bedroom apartment (solo) | 2,100–2,600 |
| Groceries | 350–450 |
| TTC post-secondary monthly pass | ~128 |
| Utilities (share of bills) | 100–150 |
| Total estimated range | 1,750–2,250 |
Source: University of Toronto (utoronto.ca — estimated costs); TTC (ttc.ca — fares).
Saving tip: Living in Scarborough, North York, or Etobicoke and commuting via TTC can save CAD 300–600/month on rent compared to downtown. The post-secondary monthly pass covers all TTC routes.
Vancouver rivals Toronto for cost, particularly in housing. UBC, SFU, and BCIT are the major institutions. The mild climate and natural beauty make it popular despite the high costs.
| Category | Monthly Cost (CAD) |
|---|---|
| Shared accommodation | 1,000–1,500 |
| University residence | 900–1,400 |
| Groceries | 350–450 |
| TransLink U-Pass | ~47 |
| Utilities | 100–140 |
| Total estimated range | 1,800–2,350 |
Source: UBC (ubc.ca — cost of living); SFU (sfu.ca); TransLink (translink.ca — U-Pass BC).
Key advantage — U-Pass: The U-Pass BC programme is mandatory for full-time students at participating institutions and costs approximately CAD 47/month. It provides unlimited travel on all TransLink services (bus, SkyTrain, SeaBus) across all zones — making it one of the best student transit deals in Canada.
Montreal is consistently the most affordable major student city in Canada. It is home to McGill, Concordia, Universite de Montreal, and several CEGEPs. The bilingual environment (French and English) adds a unique cultural dimension.
| Category | Monthly Cost (CAD) |
|---|---|
| Shared accommodation | 650–1,000 |
| University residence | 600–1,100 |
| Groceries | 280–380 |
| STM monthly pass (reduced fare) | ~57 |
| Utilities | 80–120 |
| Total estimated range | 1,350–1,800 |
Source: McGill University (mcgill.ca — cost of living); Concordia University; STM (stm.info — fares).
Key advantages: Rent in Montreal is 25–35% lower than Toronto or Vancouver. Quebec’s electricity rates (via Hydro-Quebec) are among the lowest in North America, keeping utility costs down. However, note that Quebec has its own study permit requirements (CAQ — Certificat d’acceptation du Quebec) in addition to the federal study permit.
Alberta’s two major cities offer a strong balance of quality universities and affordable living. The University of Calgary, University of Alberta (Edmonton), and Mount Royal are key institutions.
| Category | Calgary (CAD) | Edmonton (CAD) |
|---|---|---|
| Shared accommodation | 800–1,200 | 700–1,050 |
| One-bedroom apartment | ~1,900 | ~1,600 |
| Groceries | 300–400 | 280–380 |
| Transit monthly pass | ~109 | ~100 |
| Utilities | 120–160 | 120–160 |
| Total estimated range | 1,500–2,000 | 1,400–1,850 |
Source: University of Calgary (ucalgary.ca); University of Alberta (ualberta.ca); Calgary Transit; Edmonton Transit Service.
Alberta advantage: Alberta has no provincial sales tax (PST), meaning you only pay the 5% federal GST. In Ontario and British Columbia, the combined HST/GST+PST is 13% and 12% respectively. This saves money on everyday purchases.
| City | Shared Rent (CAD/month) | Groceries | Transit Pass | Total Range |
|---|---|---|---|---|
| Vancouver | 1,000–1,500 | 350–450 | ~47 | 1,800–2,350 |
| Toronto | 1,000–1,400 | 350–450 | ~128 | 1,750–2,250 |
| Calgary | 800–1,200 | 300–400 | ~109 | 1,500–2,000 |
| Edmonton | 700–1,050 | 280–380 | ~100 | 1,400–1,850 |
| Montreal | 650–1,000 | 280–380 | ~57 | 1,350–1,800 |
Source: University cost-of-living guides; EduCanada; municipal transit authority published fares.
| Detail | Value |
|---|---|
| Work limit (during academic sessions) | 24 hours per week |
| Work limit (scheduled breaks) | Full-time (unlimited) |
| Federal minimum wage | CAD 17.75/hour (from April 2025) |
| Ontario minimum wage | CAD 17.20/hour |
| BC minimum wage | CAD 17.85/hour |
| Alberta minimum wage | CAD 15.00/hour |
| Estimated monthly earnings (24 hrs/week) | ~CAD 1,846 (federal rate, before tax) |
Source: IRCC (canada.ca — study permit work conditions); Government of Canada (canada.ca — minimum wage by province).
Note: The 24-hour weekly work limit took effect in 2024, replacing the previous 20-hour cap. Students do not need a separate work permit — the right to work is part of the study permit conditions. On-campus work has no hour restrictions.
| Category | Budget (Montreal) | Mid-Range (Calgary) | High Cost (Toronto/Vancouver) |
|---|---|---|---|
| Shared accommodation | 750 | 950 | 1,200 |
| Groceries | 300 | 340 | 400 |
| Eating out | 80 | 120 | 180 |
| Transit pass | 57 | 109 | 128 |
| Utilities + internet | 90 | 130 | 140 |
| Health insurance | 60 | 60 | 65 |
| Mobile | 30 | 35 | 40 |
| Personal / entertainment | 100 | 150 | 200 |
| Total | ~1,467 | ~1,894 | ~2,353 |
Source: Estimates based on EduCanada data, university cost-of-living guides, and transit authority fares.
Choose Montreal or the Prairies for lower costs. Montreal offers world-class universities at 25–35% lower living costs than Toronto or Vancouver. Winnipeg, Edmonton, and Saskatoon are even more affordable, though with fewer large university options.
Share accommodation. Splitting a two-bedroom apartment reduces your rent by 30–50% compared to a one-bedroom. Platforms like Kijiji, PadMapper, and Facebook Marketplace are widely used for student rentals.
Cook at home and shop smart. Groceries at No Frills, FreshCo, and Food Basics are significantly cheaper than Loblaws or Whole Foods. Asian grocery stores (T&T, local shops) offer affordable staples. Cooking at home saves CAD 300–500/month compared to eating out regularly.
Take advantage of Alberta’s no-PST. If studying in Alberta, you save 7–8% on purchases compared to Ontario (13% HST) and BC (12% GST+PST). This adds up over the course of a degree.
Use student discounts aggressively. SPC cards, UNiDAYS, and your university student card provide discounts at hundreds of retailers. Many museums, cinemas, and attractions offer student pricing. Software (Microsoft 365, Adobe) is often free through your university.
Apply for university emergency funds and bursaries. Most Canadian universities have emergency financial assistance and bursary programmes for enrolled students facing financial difficulty. These are often underutilised — check with your university’s financial aid office.
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IRCC requires international students to demonstrate at least CAD 22,895 per year for living costs (outside Quebec), plus first-year tuition fees. If bringing a spouse, add CAD 4,000; each dependent child adds CAD 3,000. For Quebec, the living cost requirement is CAD 14,549. You can show proof through bank statements, a Guaranteed Investment Certificate (GIC), or a combination of both. (Source: IRCC — canada.ca/study-permit/financial-support)
A Guaranteed Investment Certificate (GIC) is a Canadian investment product that guarantees a deposit amount. For the Study Direct Stream (SDS), applicants from 14 eligible countries must purchase a GIC of CAD 20,635 from a participating financial institution. Regular-stream applicants are not required to use a GIC but can do so voluntarily. The GIC amount is released to you in monthly instalments after you arrive in Canada. (Source: IRCC — canada.ca/study-permit/financial-support)
Montreal is generally the most affordable major student city in Canada, with annual living costs of approximately CAD 16,000 to CAD 20,000 — about 25 to 35 percent lower than Toronto or Vancouver. Cities in the Prairie provinces (Winnipeg, Edmonton, Saskatoon) are also significantly cheaper. Calgary falls between these at roughly 10 percent lower than Toronto. (Source: EduCanada — educanada.ca; Statistics Canada cost-of-living data)
Yes. Study permit holders can work up to 24 hours per week during academic sessions and full-time during scheduled breaks. At the federal minimum wage of CAD 17.75 per hour (from April 2025), working 24 hours per week would earn approximately CAD 426 per week or CAD 1,846 per month before tax. Provincial minimum wages vary and some are higher. (Source: IRCC — canada.ca; Government of Canada — minimum wage)
In Toronto, a one-bedroom apartment typically costs CAD 2,100 to CAD 2,600 per month. Sharing a two-bedroom apartment brings your portion to approximately CAD 1,000 to CAD 1,400 per month. University residence rooms range from CAD 800 to CAD 1,500 per month depending on the institution and room type. (Source: University of Toronto housing; individual university accommodation pages)
Yes. The U-Pass BC programme provides unlimited access to TransLink public transit (buses, SkyTrain, SeaBus) for approximately CAD 47 per month. It is mandatory for full-time students at participating Metro Vancouver post-secondary institutions. The fee is included in your tuition and covers all zones. This is significantly cheaper than Toronto’s post-secondary monthly pass at approximately CAD 128 per month. (Source: TransLink — translink.ca; UBC; SFU)
Official Sources Referenced:
IRCC — Study permit financial support: canada.ca — Financial support
EduCanada — Education costs: educanada.ca — Costs
Government of Canada — Minimum wage: canada.ca — Minimum wage
TransLink — U-Pass BC: translink.ca — U-Pass
TTC — Fares: ttc.ca — Fares
