Increased fund requirements for study permits take effect
As of September 1, 2025, international students in Canada will now need to show an additional $2,260 CAD to be eligible for a study permit—bringing the total up to $22,895 CAD for a single applicant.
This change applies to all international students applying for a study permit on or after September 1, 2025.
This figure—known as the proof of funds requirement—increases depending on the number of family members an international student has accompanying them to Canada, meaning certain applicants for a study permit will need to show significantly more funds.
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The proof of funds requirement is independent of tuition and transportation costs.
This article will cover
- The new funds now required by Immigration, Refugees and Citizenship Canada (IRCC) for a study permit;
- Proof of funds requirements for students of Quebec institutions; and
- How international students can show proof of funds.
New fund requirements for a study permit
The following table shows the new fund requirements for international students, and the increase from the previous required funds:
| Number of family members | New fund requirement (Sept 1, 2025, onward) | Change from previous requirement |
|---|---|---|
| 1 (The principal applicant) | $22,895 | +$2,260 |
| 2 | $28,502 | +$2,812 |
| 3 | $35,040 | +$3,457 |
| 4 | $42,543 | +$4,197 |
| 5 | $48,252 | +$4,760 |
| 6 | $54,420 | +$5,369 |
| 7 | $60,589 | +$5,978 |
| Each additional member | $6,170 | +$611 |
Note that in addition to showing proof of these funds, international students must also make clear in their application how they intend to pay for tuition fees at their Designated Learning Institution (DLI).
Proof of funds requirements for international students to Quebec
International students wishing to study in Quebec must first obtain a Quebec Acceptance Certificate (CAQ) before applying to IRCC for a Canadian study permit. This is in contrast to students outside Quebec who can simply apply to IRCC directly.
Due to the fact that Quebec runs its own immigration ministry, international students to the province must therefore show two sets of proof of funds: one to the Quebec Ministère de l'Immigration, de la Francisation et de l'Intégration (MIFI), and another to IRCC.
Note that the same funds can be used to meet both requirements.
To obtain a CAQ, students must show that they have funds to cover:
- Their tuition fees;
- Costs required by the applicant's DLI to enroll in their study program;
- Their transportation costs;
- Costs required to make round-trips from the applicant’s country to Canada.
- Their living expenses*;
- Settlement funds for a year; and
- Settlement funds for 2025 amount to $500 CAD;
- Costs of health and health insurance.
- These costs can be waived if the applicant has valid health and hospital insurance in Quebec, or if the applicant’s country has a social security agreement with Quebec.
Living expense requirements are detailed below:
| Family Composition | Funds Required (CAN$) |
|---|---|
| One person under the age of 18 (the principal applicant) | $7,756 |
| One person aged 18 and over | $15,508 |
| Two people aged 18 and over | $22,745 |
| Two people aged 18 and over and one person under 18 | $25,479 |
| Two people aged 18 and over and two people under 18 | $27,499 |
How can students show proof of funds?
IRCC requires foreign students to provide supporting documents to prove they meet the above financial requirements.
Acceptable proof of funds documents
Students can provide one or more of the following types of documentation to prove that they have the required funds to cover their stay in Canada:
- Proof of tuition and housing payments:
- Receipts showing tuition to a student’s DLI, and accommodation fees have already been paid;
- For multi-year programs, proof of payment is required for at least the first year’s tuition. These must be accompanied by evidence that additional funds are available for living and travel costs.
- Canadian bank account in the student’s name:
- Evidence of funds transferred to Canada to a trusted Canadian bank.
- Guaranteed Investment Certificate (GIC):
- Student or education loan:
- Proof of an approved loan from a recognized bank.
- Bank statements:
- Covering the past four months, from either Canadian or foreign accounts.
- Bank draft:
- In Canadian dollars or easily convertible to Canadian dollars.
- Letter of financial support:
- From an individual or institution providing funds, supported by additional proof of available money.
- Scholarship or Canadian-funded program support:
- Documentation confirming financial assistance within Canada.
Note that the list above highlights common proofs of funds but is not exhaustive. IRCC may require other documents depending on the applicant’s country or personal situation.
In addition, foreign students should always check the relevant visa office instructions for their country or region to confirm any local requirements.
Applicants from countries with foreign exchange controls must also provide proof that they are authorized to transfer sufficient funds from their country to Canada to cover all expenses.
- 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
