What is the cost of living in Canada for foreign students?

The cost of living in Canada for foreign students is obviously one of the most concerns for you when preparing to study there. Canada is often considered ‘canada expensive’ compared to some ‘other countries’, but it offers unique advantages for international students. The costs vary based on your living area but there are strict financial requirements set by the government that you must fulfill, regardless of where you stay.

Canada is a popular study destination for students from around the world. Compared to other popular study destinations, Canada stands out for its affordability and the strong reputation of Canadian universities, which are known for academic excellence, research opportunities, and support for international students. So, check out the latest version of the regulation and see how to deal with it!

Financial eligibility and cost of living requirements for foreign students in Canada

Before you can obtain your study permit, you must show proof that you qualify for all financial eligibility and cost of living requirements for foreign students in Canada. Importantly, starting September 1, 2025, there are new changes to the financial eligibility for international students.

You must now provide documentation of at least CAD $22,895 to pay living expenses, according to Immigration, Refugees and Citizenship Canada (IRCC). This is an increase of more than CAD $2,000 over the previous minimum of CAD $20,635. The reason for this is to reflect Canada’s growing cost of living and guarantee that you can sustain yourself during your stay.

If you apply for a study permit on or after September 1, 2025, you will have to provide further proof of your ability to support yourself (and your family, if applicable) while you are in Canada.

Below is a detailed overview of the New Annual Living Expense Requirements:

Number of family members**(including the applicant)**	OLD Minimum Funds Required  (CAD)(from January 1, 2024, to August 31, 2025)	NEW Minimum Funds Required  (CAD)  (on or after September 1, 2025)
1 Person	$20,635	$22,895
2 People	$25,690	$28,502
3 People	$31,583	$35,040
4 People	$38,346	$42,543
5 People	$43,492	$48,252
6 People	$49,051	$54,420
7 People	$54,611	$60,589
Additional Member	$5,559 per person	$6,170 per person

For example, if you and your mother want to come to a province or territory (other than Quebec) for a year, you will need $28,502 to cover the living expenses.

Note: The changes, which are intended to give a fair representation of living expenses in Canada’s largest cities and communities, impact all international students (except for those coming to Quebec).

For Quebec, its immigration authority announced on Nov. 21, 2025 that it would triple the financial requirements for study permits in 2026. Below is the breakdown of Quebec’s new updates for international students:

Number of family members**(including the applicant)**	OLD Minimum Funds Required  (CAD)	NEW Minimum Funds Required  (CAD)  (from January 1, 2026)
One person under 18	$7,756	$24,617
One person 18 or older	$15,508	$24,617
Two people 18 or older	$22,745	$34,814
Two people aged 18 or over and one person under the age of 18	$25,479	$42,638
Two people aged 18 or over and two people under the age of 18	$ 27,499	$49,234

However, this amount DOES NOT include the annual tuition fees and transportation costs, which you also need to demonstrate your ability to pay. Specifically, a single student needs to pay their annual tuition fees plus CAD $10,000 for a 12-month period (or CAD $833/month).

How to show you can afford the cost of living in Canada

To prove that you can qualify the financial eligibility and cost of living requirements for foreign students in Canada, you must submit certain documents. Let’s find out what they are now! These documents are required as part of the student visa application process.

Proof of funds for foreign students in Canada

All candidates for study permits must show that they are able to support themselves and any accompanying family members without having to work in Canada, according to Immigration, Refugees and Citizenship Canada (IRCC).

One of the most common causes of study permit denials is inadequate proof of funds. To shield students from financial hardship or exploitation, the government wants to make sure they can afford tuition, living expenses, and return transportation.

What documents are accepted as Proof of Funds?

IRCC accepts various documents as Proof of Funds, including:

• Proof you paid your tuition and housing fees (Supported by other documents proving you have sufficient funds to cover living expenses and transportation costs & proving you have paid your first year’s tuition for multiple-year programs)
• Proof of a Canadian bank account in your name
• Guaranteed Investment Certificates (GICs) from Canadian financial institutions
• Student or education loan approval from a recognized bank
• Bank account statements in your name (last 4 months)
• Bank drafts convertible to Canadian dollars
• Letters of financial support from family, sponsors, or institutions (Supported by by other documents showing proof of funds)
• Proof of financial support within Canada (e.g. You receive a scholarship or are in a Canadian-funded educational program)

It might also be necessary to have additional documents along with the mentioned above. For information on local requirements, refer to the guidelines provided by the visa office in your nation or area. Moreover, you might need to show proof that you are able to export money to cover all of your expenses if your country has foreign exchange regulations.

Last but not least, it is a must to have clear and current documents. Besides, you need to translate them into either French or English if they were originally written in a different language.

Preparing the financial documents for submission

Now that you know what you need to submit as your proof of funds, start collecting them. You can contact your bank, educational institution, and any other bodies or persons who may provide you with the information you need.

Next, you can upload all the information to the immigration application portal, BorderPass. This is where it becomes much easier. Just follow the instructions on the portal and upload the correct documents. In case you have a sponsor, you will need to fill in their details later!

To facilitate your preparation, it is ideal to research living costs for your particular area well in advance before your study permit application. This research will give you a clearer idea of how much funds you need to cover. If the result indicates that the cost might be a problem, you still have time to consider changing the location.

Living costs for international students in Canada

Understanding the living costs where you live in Canada will facilitate your preparation of Proof of Funds and minimize the chances of rejection. It is important to be aware of the average living expenses for international students, as these can vary significantly depending on the city and university you choose.

Moreover, this knowledge will help you make a thorough plan for financial management during your stay. Calculating your monthly cost is essential to manage your budget effectively and ensure you are financially prepared for all necessary expenses.

Accommodation costs in Canada for foreign students

On campus accommodations are generally more affordable and safer for international students in Canada. If you stay on campus, you benefit from lower costs, added convenience, and a secure environment. Alternatively, you can choose to rent an apartment or room off-campus, which offers more freedom and flexibility, but the cost is almost always higher than on-campus living.

For example, depending on the room and meal plan, 8 months of on-campus residence at the University of Toronto might cost anywhere from CAD $6,500 to CAD $20,500, with a monthly fee that varies based on the type of accommodation and services included. Meanwhile, a one-bedroom apartment typically costs CAD $2,100 a month or more in the province of Toronto.

Food and grocery costs in Canada

You have to budget for food and grocery shopping if you live off campus and don’t have a meal plan. Obviously, these costs vary depending on where you choose to shop and the city you choose to live in.

International students, including Indian students, can save money on groceries by shopping at affordable supermarkets, visiting local markets, and planning meals in advance to manage expenses efficiently.

For example, according to Statistics Canada, single-person households in cities like Toronto or Vancouver often spend more than $400 per month because of increased transportation and retail rivalry costs.

Transportation costs for students in Canada

To get around, a lot of international students use public transit. Public transport in Canada is widely available, affordable, and offers various options such as buses, trains, and light rail, making it convenient for students to commute. Fortunately, transportation expenses are frequently covered by tuition, granting you unrestricted use of the city’s whole transportation network.

Still, you can purchase your own monthly pass at a discounted price in several places, which provides unlimited travel and is a cost-effective option for regular commuters. For instance, a monthly pass costs $128 CAD in Toronto.

Understanding transportation Canada options and their associated costs is essential for students to budget effectively and make the most of their time in the country.

Healthcare costs for foreign students in Canada

The health system in Canada is publicly funded. Yet, every province and territory has its own healthcare system. Depending on where you live in Canada, you may or may not be eligible for publicly subsidized medical coverage.

Your educational institution may compel you to sign up for a certain insurance plan or obtain your own private coverage if you are ineligible for public healthcare. To find out exactly what coverage you need to study safety in Canada, you should consult your institutions.

For example, based on the plan, the average annual cost of healthcare for international students in Toronto is between $63 and $756. Health insurance costs for students in Canada ranges widely depending on the province or territory, with some regions offering lower premiums and others requiring higher payments. This expense is frequently mandatory and covered by an institution’s plan, such as the University Health Insurance Plan (UHIP) in Ontario.

Daily living expenses

There are other less prominent living expenses associated with studying overseas, and Canadian students should be aware of these. Some items, such as winter clothing, can be a significant expense for new students.

First, you may need to buy a mobile phone plan, which can cost around $101 CAD/month. Some students may opt for an unlimited data plan as part of their monthly expenses. This might be among the highest in the world but it comes with many benefits including, international phone calls or messages to your family back home, uninterrupted internet connection, etc.

Second, clothing costs are the hidden costs to pay attention to! For example, the winter in Canada is famously harsh, so you will need to buy warm winter clothing like a jacket, boots, socks, gloves, hat, and scarf. Yet, if you prepare these clothes at home before you come to Canada, it could save some money.

Finally, it is fine to go out and take part in some recreational and outdoor activities. They will help you to relax after long hours of study and broaden your knowledge of Canada’s social or cultural aspects. The average cost of movie tickets is about $14 CAD, which is a typical entertainment expense for students. Don’t over-enjoy it to stay within your budget but also don’t hold yourself back too hard from exploring the place!

Additional costs: Tuition fees & Other educational costs

Tuition fees and other educational costs might not be counted as living expenses. But they still play a role in your financial plan and affect how you prepare to meet the cost of living requirements for foreign students in Canada.

In fact, you need to pay between CAD $7,000 and CAD $36,100 for tuition fees (for different study levels from colleges and vocational schools to undergraduate degrees). Thus, factor these costs in your calculation of the amount needed for a study permit application.

Many students take up part time jobs to help cover tuition and other educational costs while studying in Canada.

Regional variations in cost of living across Canada

The cost of living in Canada can vary significantly depending on the region, city, and province you choose for your studies. Major cities like Toronto and Vancouver are known for their higher living costs, especially when it comes to accommodation costs and food expenses. British Columbia, for example, is popular for its mild climate and vibrant lifestyle, but this desirability often comes with a higher price tag for students.

In contrast, provinces such as Quebec and Manitoba are considered more affordable, offering lower living costs and a range of budget-friendly options for international students. Cities like Montreal and Edmonton typically have lower rent and daily expenses compared to Canada’s largest urban centers. When planning your study abroad journey, it’s important to research the specific living costs in your chosen city, including accommodation, transportation costs, food, and entertainment expenses.

By understanding these regional differences, international students can create a realistic budget and make informed decisions about where to study in Canada. Careful planning will help you manage your expenses, find affordable options, and ensure you have enough money to enjoy your experience while focusing on your academic goals.

Strategies to reduce the cost of living in Canada for foreign students

If the cost of living in Canada may seem like a problem to you, we recommend you take into consideration the following strategies to help you cope with it.

Apply for financial aid

Applying for scholarships and bursaries is definitely something that international students all want to do. There are many options for you including government-funded scholarships and university-specific scholarships. Each has their own eligibility criteria like academic merit or a specific ability.

You need to research thoroughly their requirements before submitting any applications. A scholarship could fully or partially cover your tuition fees and possibly your living expenses (check the information of each award to see what’s covered).

Another option of financial aid that international students can turn to is the student loans. Federal and private loans are the two primary categories. A federal student loan is one that the government offers like the Canada Student Loan program. A student loan offered by a privately funded institution is known as a private student loan. 

Since no one wants to wind up with more debt than they can pay back, we encourage you to only borrow what you really need.

Find part-time work in Canada

There will be chances that your scholarship doesn’t cover the costs of living or you fail to receive any form of financial aid. So, you must find other ways to make ends meet. One of the common ways is to work a part-time job. In Canada, international students are allowed to work part-time while studying under strict rules you must follow. 

First, you can work on campus or off campus but it is only legitimate when your program has started. Second, there is a limitation on hours worked, which is 20 hours each week. Finally, you must apply for a Social Insurance Number prior to working. 

You can expect to make between CAD $1,200 and CAD $1,600 a month during your academic sessions. However, there will be no restriction on working hours during scheduled breaks like summer or winter holidays. This means you can work full time and earn up to CAD $2,400 to CAD $3,200.

This income would remarkably contribute to your financial budget, allowing you to stay financially healthy. Nevertheless, don’t forget your main goal coming to Canada, which is to obtain a degree, not working part-time. Any violations of the part-time work rules can adversely impact your student status in Canada.

Manage your expenses wisely as a foreign student

Earning money is a good way to cope with the cost of living. However, if you focus on that too much, it may hinder your ultimate academic goal. Besides, the more you earn, the more you may want to spend. That shows how our lifestyle can influence the costs of our living. Therefore, you need to have self-discipline and manage your expenses wisely. Here is what you can do:

• Keeping track of your spendings and earnings carefully using apps 
• Looking for student discounts or discounts in general when shopping
• Taking advantage of your student status to enjoy exclusive benefits like buying discounted bus fares, getting access to free internet at school, etc.
• Creating a savings account to set money aside for short-term goals or emergencies
• Making detailed financial plans for any activities of entertainment
• Staying determined and sticking with your plan 

In Summary

You must demonstrate that you are able to financially support yourself and any dependents or family members who are traveling with you in Canada. Proof that you have paid your tuition after your first year of study is not necessary. However, that is only true provided there are no suspicious issues with your proof of funds.

To make sure you have adequate proof of funds, you need to look up the cost of living in your specific area as it will differ across the country. Besides, living expenses greatly depend on how you spend your funds, so learn to manage your spending strategically with our tips above.

FAQs

1. What are the Top Ways to Show Proof of Funds for a Canadian Study Permit?

• Tuition Fee Payment Receipt
• GIC Certificate from a Bank
• Scholarship or Funding from Your Educational Institution
• Letter from a Person or Institution Funding Your Studies
• Proof of a Canadian Bank Account in Your Name

2. What are the Reasons for Proof of Funds Rejection?

It is important to learn the common reasons for Proof of Funds rejection to help you avoid in your future application:

• Insufficient Funds: You will be turned down if the assessors determine that you do not have enough money to meet your costs while in Canada. Therefore, look for ways to raise enough money, such as applying for a student loan or scholarship.
• Bulk Deposits: It will arouse suspicions among immigration officials as a sign of systemic fraud. If you wish to make a large deposit, think about including an explanation letter. Additionally, consider making the deposit at least four months or more before applying or providing an alternate form of financial evidence.
• Personal Loans: Personal and educational loans are typically viewed differently by the IRCC. Depending on your financial institution, a personal loan typically lacks the same guarantees as an educational loan. To prevent rejection, whenever possible, try to obtain an educational loan rather than a personal one.

3. Do I Have to Show the Source of the Funds?

Certain types of evidence, such as GICs or student loans, are preferred by IRCC. Yet, you do not have to provide complete proof of the source of the funds.