Canada to increase financial support requirements for international students
Foreign nationals applying for Canadian study permits will soon require over $2000 in additional funds.
Immigration, Refugees and Citizenship Canada (IRCC) has updated its proof of financial support requirement for study permit applications.
For a family of one, the minimum amount of funds required—on top of first year's tuition and travel costs—will increase to $22,895, up from $20,635.
The change, announced on June 2, 2025, will take effect for international students applying for a study permit on or after September 1, 2025.
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This applies to international students studying in all provinces and territories outside Quebec.
International students must provide proof that they have these funds as living expenses to support themselves and any accompanying family members in Canada.
Canada updates financial support requirements annually in line with increases in the cost of living.
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 |
The funds required as proof of financial support for study permits are updated annually.
The current requirement came into effect on January 1, 2024, and will remain in effect for all study applications submitted before September 1, 2025.
What documents does IRCC accept as proof that an international student can meet the cost-of-living financial requirements?
International students planning on studying in Canada can show the following as proof of funds for a study permit:
- Proof of a Canadian bank account in their name, if they have transferred the money to Canada.
- A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution.
- Proof of a student or education loan from a bank.
- Bank statements for the past 4 months.
- A bank draft that can be converted to Canadian dollars.
- A letter from the person or school that is giving them money.
- Proof of funding paid from within Canada, if they have a scholarship or are in a Canadian-funded educational program.
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- Do you need Canadian immigration assistance? Contact the Contact Cohen Immigration Law firm by completing our form
- Send us your feedback or your non-legal assistance questions by emailing us at media@canadavisa.com
