Proof of funds: what it means for students
What it means, who decides it and where to check the official source.
Proof of funds means documents showing you can pay for studies and living costs; IRCC and each school state what they accept.
In more detail
Proof of funds is the set of documents that show money is available to cover study and living costs. It may include bank records, evidence of a program such as a GIC, or documents about who is paying.
What counts, and how much is expected, is set by IRCC and the school, and changes over time. A figure quoted online can be out of date.
Keep documents clear and consistent with the rest of the application. If a sponsor is involved, their documents need to match the story in the application.
Who decides
IRCC and the school each decide what they accept.
Where to check
- Government of Canada
Look for the current proof of financial support guidance.
What to ask a counsellor
- Which documents should I collect before I speak with the bank?
- Where do I check the current wording of the proof of funds requirement?
Related terms
Questions about a term?
Bring it to a free counselling session. We explain how schools and programs work and help you prepare questions. We do not give immigration advice.
Independent advice
- Study Master Canada is an independent education counselling firm. We are an authorized agent of certain colleges and universities, directly and through recruitment partners, and the institutions compensate us. Our counselling is free to you.
- We help you choose a program and connect you with the college.
- We do not determine eligibility or funding, and we are not affiliated with any government.
- Regulated immigration work is done only by Visa Master Canada, a licensed RCIC partner, and only when you retain them directly.