Proof of Funds and the GIC, Explained
By Editorial Team · 08 Jul 2026
Proving you can support yourself is central to a study permit. The Guaranteed Investment Certificate (GIC) is the most common way international students do it.
Why proof of funds matters
IRCC wants confidence that you can cover tuition and living expenses without unauthorised work. Showing genuine, accessible funds is one of the most important parts of your application.
How a GIC works
You deposit a set amount with a participating Canadian bank before you arrive; the bank releases it to you in instalments once you land, helping cover living costs during your first year.
Plan the full picture
Beyond the GIC, budget for tuition, flights, insurance and settling-in costs. Under-budgeting is stressful once you arrive and can complicate future permit extensions.
Next steps
Use our university directory and scholarship listings to compare your options, then send an enquiry and our advisors will help you build a shortlist and application plan.
This article is general guidance for international students considering Canada. Tuition, immigration rules and deadlines change often — always confirm the latest details with the official university and Government of Canada (IRCC) sources before making decisions.