What is the total estimated first-year budget for international undergraduate tuition fees and the Guaranteed Investment Certificate (GIC) in Canada?
Budget roughly CAD 65,194 for your first year: CAD 41,746 average international undergraduate tuition plus CAD 23,448 in required proof of living funds. The old CAD 20,635 GIC under the Student Direct Stream ended in November 2024, so a GIC works only as one funds option, not a separate item.
Your realistic first-year budget is about CAD 65,194, combining Canada's average international undergraduate tuition with the living funds your study permit application now requires. Add a further CAD 1,000 to 2,000 for flights, biometrics and setup costs to get a safer total.
First-Year Cost Breakdown
| Item | Amount (CAD) |
|---|---|
| Average international undergraduate tuition | 41,746 per year |
| Required living funds (single student, outside Quebec, applications from September 1, 2026) | 23,448 per year |
| Study permit and biometrics fees | 150 plus 85 |
| Estimated first-year total | 65,194 plus setup costs |
Why the Old GIC Amount No Longer Applies
- Student Direct Stream ended: the SDS program and its fixed CAD 20,635 GIC requirement closed on November 8, 2024.
- Current rule: IRCC now asks you to demonstrate funds covering tuition, transportation and living expenses, and a GIC remains only one accepted way to show that.
- Province matters: 2025/26 tuition averages range from about CAD 18,867 in Newfoundland and Labrador to CAD 49,802 in Ontario, so your actual number can move a lot.
My Advice
Do not plan around the old CAD 20,635 GIC figure students often still quote online, it no longer reflects the current requirement. Get your province and university's exact tuition first, then work out your funds proof using the current CAD 23,448 living-cost figure, and keep a buffer for the exchange rate moving before you transfer money.
Got a budget of 40 to 50 lakhs? See what Canada costs.
Full tuition and living breakdown, plus universities that fit your number.
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