Updated On: 05 July 2025
Canada to increase financial support requirements for International Students
If you are looking to study in Canada, you need to read this.
Additional funds of over $2000 will soon be required from foreign nationals who apply for Canadian study permits.
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IRCC has updated the proof of financial support requirement established for study permit applications.
The minimum amount of funds required is for a family of one; it would be on top of first year's tuition and travel costs and would increase to $22,895, up from $20,635.
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As of September 1, 2025, this change will be set into operation for international students applying for a study permit on or after this date.
It applies to all international students in all provinces and territories outside Quebec.
International students must prove that they have sufficient funds for living expenses to maintain themselves, plus any family members with them, while in Canada.
Financial support requirements are updated annually by Canada to correspond with increasing costs of living.
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Funds required for those applying for a study permit on or after September 1, 2025
|
Family members (including the applicant) |
Funds required per year |
|
1 |
CAN$22,895 |
|
2 |
CAN$28,502 |
|
3 |
CAN$35,040 |
|
4 |
CAN$42,543 |
|
5 |
CAN$48,252 |
|
6 |
CAN$54,420 |
|
7 |
CAN$60,589 |
|
If more than 7 people, each additional family member |
CAN$6,170 |
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The funds required as proof of financial support for study permits are updated annually.
Proof of Ability to Pay for Living Expenses While Studying in Canada
International students may present the following evidence of funds for a study permit:
- Proof of Canadian bank account in the name of the applicant, if they have transferred money to Canada.
- Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution.
- Proof of student or education loan from a bank.
- Bank statements for the past 4 months.
- Bank draft that can be converted into Canadian dollars.
- Letter from a person or school providing money.
- Proof of funding paid from within Canada, as in the case of a scholarship or Canadian-funded educational program.
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Conclusion
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