How much money do you need to study in Canada? A 2026 cost guide

Studying in Canada is an investment in your future. Like any investment, you need to know the real cost before you start. Many students only think about tuition and get surprised later by living costs, government fees, and money they must show at the border.

This guide breaks down every main cost for 2026 in simple terms, so you can plan with confidence.

1. Tuition: usually your biggest cost

Tuition is the fee you pay your school to study. For international students, it is often the largest single cost. How much you pay depends a lot on the type of school you choose.

College diploma programs are usually the most affordable choice. Many international students pay around CAD $15,000 to $22,000 per year for a college program. Colleges are popular because the programs are shorter, job-focused, and cost much less than a university degree.

University degrees cost more. For comparison, international undergraduate (bachelor's) programs average about CAD $41,746 per year, and graduate (master's) programs average about CAD $24,028 per year, according to Statistics Canada. Fees also change by province and program. Courses like medicine, dentistry, engineering, and business usually cost the most.

For most students who want strong career results at a lower cost, a college diploma offers the best value. That is why this guide focuses on the college path.

2. Living costs: money for daily life

After tuition, you need money to live. This includes rent, food, transport, phone, and other daily needs.

A good rule is to budget at least CAD $23,000 per year for living costs as a single student. Big cities like Toronto and Vancouver can cost more. Smaller cities and towns cost less, which can make your budget go much further.

3. Proof of funds: money you must show the government

This is a cost many students forget, and it is very important. When you apply for a study permit, you must prove you can support yourself in Canada. This is called "proof of funds."

As of September 1, 2025, a single student must show CAD $22,895 for living expenses. This is separate from your tuition and your travel costs. In other words, you must show this amount on top of your first year of tuition.

If you bring family, the amount rises. A student with two accompanying family members must show CAD $35,040 for living costs.

You can prove your funds in several ways. Common options include:

• A Guaranteed Investment Certificate (GIC) from a Canadian bank
• Proof of a student or education loan (Passage loans)
• Bank statements for the past four months
• A letter from a person or school giving you money
• Proof of a scholarship or Canadian-funded program

4. Government and application fees

There are several smaller fees that add up. Plan for these:

• Study permit application fee: CAD $150
• Biometrics fee (fingerprints and photo), if required: CAD $85

You may also pay for a medical exam and to have documents translated. These vary by country.

5. Travel and setup costs

Do not forget your flight to Canada, travel insurance, and the cost of setting up your new home. Furniture, warm winter clothes, and a first month of rent and deposit can cost a few thousand dollars in your first weeks.

Putting it all together

Here is a simple picture of a first-year budget for a single college student, using typical figures:

• Tuition: about CAD $20,000
• Living costs: about CAD $23,000
• Study permit and biometrics: about CAD $235
• Travel and setup: often CAD $3,000 to $5,000

That brings a realistic first-year total to roughly CAD $46,000 to $48,000 for a college diploma. A university degree costs more, mostly because tuition is higher, so many students choose the college route to save money.

Remember, the proof of funds figure is not an extra cost you spend. It is money you must show you have. Much of it becomes your living expenses once you arrive.

How to lower your costs

You have real ways to reduce the total. Choose a college diploma over a university degree if the career outcome is similar. Study in a smaller city with lower rent. Apply for scholarships. Work part-time during your studies, which most study permits allow. And use a student loan to cover the gap so you can still meet the proof of funds rule.

How Passage can help

A student loan can make Canada possible when your savings are not quite enough. At Passage, we help international students fund their studies at partner schools like George Brown College, Niagara College, and Bow Valley College. Our loans can also help you meet the proof of funds requirement.

See how much you may qualify for in just a few minutes at go.passage.com.

This article is for general information only. Costs and immigration rules can change, so always confirm the latest details on the official Government of Canada website before making decisions.