Every student visa asks you to prove you can pay for your first year. The UK, US, Canada and Australia each calculate that amount differently, and all four set it at a minimum rather than a realistic budget. Students who save exactly what the visa asks for often find out after they land that it isn't enough.
What each country asks
UK: a monthly amount, for up to nine months. It's £1,529 a month in London or £1,171 elsewhere, capped at nine months, so £13,761 in London or £10,539 outside it. The money has to sit in your account for 28 consecutive days. Tuition is separate, based on the first-year figure on your CAS. Also note that the Graduate Route drops from two years to 18 months for applications made on or after January 1, 2027; apply this year and you still get two years.
US: no fixed number. You need to show whatever your school's I-20 lists as the annual cost of attendance, which ranges from the mid-$40,000s to over $80,000 depending on the school. Bank statements, a sponsor's proof of income and scholarship letters all count. A DHS rule published July 17 replaced "duration of status" with a fixed admission period tied to the program end date and cut the grace period after graduation from 60 days to 30. It took effect September 15.
Canada: a set amount plus tuition. A single applicant outside Quebec needs CA$22,895 a year, plus tuition and travel, and a family of two needs CA$28,502. The Student Direct Stream and its GIC shortcut ended in November 2024, so every application now goes through the regular stream, and most applicants also need a Provincial Attestation Letter.
Australia: one annual figure. It's AU$29,710 for living costs, plus tuition and travel, with more required for a partner or child. That's the highest living-cost requirement of the four.
Why the visa amount won't cover the year
The visa figure only shows you won't run out of money partway through. In London, the most the visa asks for in living costs is £13,761, which covers about nine months of basic rent and food. A real first year adds tuition (commonly £20,000–£38,000 for undergraduates), deposits, flights, insurance and setup costs, and actual spending usually runs about double the visa figure. Canada works the same way: CA$22,895 doesn't last long once you're paying Toronto or Vancouver rent, and visa officers know that, so showing comfortably more than the minimum helps.
Prepare the visa file to the required amount, but plan the family budget around what the year will really cost. A rental deposit and the first two months of living expenses are due within days of arriving.
The rest of the checklist
Beyond money, all four countries want the same core documents: a passport valid for your whole course, proof of admission (a CAS for the UK, an I-20 for the US, an acceptance letter plus PAL for Canada, a CoE for Australia), language test results as your school requires, and medical and background checks where they apply. The UK also charges the Immigration Health Surcharge, £776 a year, paid upfront with the visa fee.
Two details about holding the money catch people out. The UK's 28-day rule is strict: if the balance drops below the threshold for even one day, it doesn't count. Canada has no fixed holding period, but a sudden large deposit will raise questions, so a history of salary payments and dated deposits is easier to explain than one recent lump sum.
Sources: gov.uk student visa money page, IRCC proof of financial support, Australia Home Affairs Subclass 500, Dream Uni's 2026 seven-country comparison (each figure linked to its official page), DHS rule of July 17, 2026. Figures are the current 2026 requirements.