Money
Costs and scholarships
The visa proof-of-funds figure is a minimum, not a budget. A realistic plan adds tuition, rent in your actual city, insurance, travel and a cushion for the first months.
The minimums governments ask for
| Country | Living costs to show | Source and date |
|---|---|---|
| Canada (outside Quebec) | CAD 23,448 a year | IRCC, applications from 1 Sep 2026 |
| Quebec | CAD 24,617 a year | Quebec government, 2026 |
| UK, London | £1,570 a month, up to 9 months | UK Home Office, from 30 Nov 2026 |
| Australia | AUD 29,710 a year | Home Affairs, 2026 |
| Germany | €992 a month | German Federal Foreign Office, 2026 |
| Ireland | €10,000 a year | Irish immigration service |
What the minimum leaves out
Tuition is shown separately in every country. Rent in a large city can take most of the minimum figure on its own. Add the visa fee, health cover or surcharge, flights, a deposit for housing and the cost of furnishing a room.
Low-tuition countries
Public universities in Germany and some other European countries charge little or no tuition. UniversitiesDB has a guide to tuition-free and low-cost universities in Europe for 2027 applicants, which lists options country by country.
Scholarships to check
- Chevening, the UK government's scholarship for one-year master's degrees.
- DAAD scholarships for study and research in Germany.
- Erasmus Mundus joint master's degrees, which are funded by the EU and taught across several countries.
- Fulbright, for study in the United States.
- University entrance scholarships, which are often automatic for high grades.
- Scholarships from your own government. In Thailand, the Office of the Civil Service Commission funds overseas study in return for public service.
Exchange rates
Your costs are in a foreign currency. A 10 percent move in the exchange rate changes your budget by 10 percent. Build in a margin, and think about transferring money in stages.