Canada's proof of funds is CA$23,448 from 1 September 2026 — and Quebec did not move
IRCC's cost-of-living requirement rises CA$553 for applications submitted on or after 1 September 2026. Quebec stays at CA$24,617 on its own January clock. The full family table, who the change actually catches, and what to do if your GIC is already open.
The number, and the date that decides it
From 1 September 2026, a single applicant outside Quebec must show CA$23,448 in living funds for the first year of study. That is up from CA$22,895 — an increase of CA$553.
Quebec did not change. It stays at CA$24,617, and the rest of this piece explains why those two facts are not a contradiction.
One thing matters more than the number itself, and it is the thing most pages leave out:
The amount is assessed on the date you submit the application — not the date you opened the GIC, not the date you got your letter of acceptance.
A file submitted on 31 August is assessed against CA$22,895. The same file, unchanged, submitted on 1 September is assessed against CA$23,448. If your GIC was opened in July at the old figure and you file in September, you are CA$553 short.
That is not a rounding error you can explain away. Section 220 of the Immigration and Refugee Protection Regulations says an officer shall not issue a study permit unless the applicant has sufficient funds. There is no discretion in "shall not."
The full table
IRCC counts family members including you. One person means the applicant alone.
| Family members | Funds required from 1 Sept 2026 | Previous | Increase |
|---|---|---|---|
| 1 (you) | CA$23,448 | CA$22,895 | +CA$553 |
| 2 | CA$29,192 | CA$28,502 | +CA$690 |
| 3 | CA$35,888 | CA$35,040 | +CA$848 |
| 4 | CA$43,572 | CA$42,543 | +CA$1,029 |
| 5 | CA$49,419 | CA$48,252 | +CA$1,167 |
| 6 | CA$55,736 | CA$54,420 | +CA$1,316 |
| 7 | CA$62,054 | CA$60,589 | +CA$1,465 |
| Each additional | CA$6,318 | CA$6,170 | +CA$148 |
This is living costs only. First-year tuition and return travel are shown separately and in addition. The single most common misreading of this figure is treating it as a fee, or as something to add on top of a living budget you have already calculated — it is the living budget, in IRCC's estimation.
Quebec is a different number on a different clock
This is where advice goes wrong, and it goes wrong in a direction that costs students money.
Quebec assesses financial capacity itself, through MIFI, as part of the Quebec Acceptance Certificate — before IRCC ever opens your file. Two consequences follow:
One: the amount is higher. CA$24,617 for a single applicant, against the federal CA$23,448. A Quebec-bound student who prepares the federal figure is CA$1,169 short at the provincial stage.
Two: it moves on a different date. MIFI set CA$24,617 on 1 January 2026, and reviews on a January cycle. IRCC applies its recalculation every 1 September. The September 2026 federal increase did not touch Quebec at all.
| Outside Quebec | Quebec | |
|---|---|---|
| Single applicant | CA$23,448 | CA$24,617 |
| Set by | IRCC | MIFI (for the CAQ) |
| Effective | 1 September 2026 | 1 January 2026 |
| Next expected review | 1 September 2027 | 1 January 2027 |
Quebec's January 2026 change was not a small one — the single-applicant requirement went from CA$15,508 to CA$24,617, and the new figure folds in settlement fees and health insurance that used to be counted separately. If you are reading older guidance for Quebec, check its date carefully.
Who this actually catches
Not the student who reads the news in September. The ones caught are:
People who opened a GIC early. A GIC opened in June at CA$22,895 is a correct GIC for a June application and an insufficient one for a September application. Nothing about it changed; the bar moved.
People holding an application back for a document. A file waiting on a transcript or a medical since August, submitted in September, is assessed against the September figure. The delay moved the goalposts even though the funds never moved.
People given a number by somebody who has not checked since last year. This figure has been CA$10,000, then CA$20,635 (January 2024), then CA$22,895 (September 2025), now CA$23,448. Any agent quoting a bare number without a date beside it is quoting from memory.
Quebec applicants handed the federal number. Covered above, and it is the most expensive version of this mistake.
What to do, depending on where you are
Not yet submitted, submitting on or after 1 September. Top up by CA$553 before you file. Most banks will let you add to an existing GIC rather than opening a new one; ask for the updated certificate afterwards, because the certificate is what the officer reads.
Already submitted before 1 September. Nothing to do. Your application is assessed against the figure in force on your submission date.
Submitting in the next few days and undecided. If your file is genuinely complete, submitting before 1 September is assessed at CA$22,895. Do not rush an incomplete file to beat the date — an incomplete application costs far more than CA$553, and a refusal follows you into the next one.
Quebec-bound. Work to CA$24,617, and remember MIFI assesses you first. The same funds satisfy both stages, but they have to meet the stricter of the two requirements, which is Quebec's.
The rule worth keeping
A proof-of-funds figure without a date beside it is not information. This one is recalculated every spring and applied every 1 September, and Quebec's runs on a January clock that is unrelated to it. Whatever you read — here included — check the figure on canada.ca, and the Quebec figure on Québec.ca, on the day you file.
Figures in this article checked 31 August 2026 against IRCC's published cost-of-living requirement and MIFI's financial capacity table.
UniStep opens the GIC for students we work with, and we check the figure on the day the application goes in rather than the day the account was opened. If your GIC is already open and you are not sure whether it still clears the bar, ask us before you file.