Canada hikes study permit funds requirement: Students now need a minimum of CA$22,895 

Starting September 1, international students seeking Canadian study permits will face higher financial thresholds. Immigration, Refugees and Citizenship Canada (IRCC) has raised the minimum proof of funds by CA $2,260 for a single applicant, pushing the total to CA $22,895. The hike also scales with family size, meaning students travelling with dependents must show significantly more to qualify.

The updated rules, effective for all applications submitted on or after September 1, 2025, require families to demonstrate higher funds. According to CIC News, a family of four will now need CA $42,543, an increase of CA $4,197. Each additional family member adds CA $6,170 to the requirement.

Students planning to study in Quebec must submit separate proof of funds to both Quebec’s immigration ministry (MIFI) and IRCC. Living expense requirements in Quebec range from CA $7,756 for a single minor applicant to CA $27,499 for a family with two adults and two children.

IRCC accepts multiple forms of proof of funds, including tuition and housing payment receipts, Canadian bank accounts, Guaranteed Investment Certificates (GICs), student loans, bank statements, bank drafts, letters of financial support, or scholarships. Applicants must also comply with any country-specific regulations, such as foreign exchange controls.

The updated requirements aim to ensure that international students and their families can financially sustain themselves during their studies.

New fund requirements for study permits (from September 1, 2025):