Canada hikes funds needed by study permit applicants
Applicants for Canadian study permits will need more money to get approved, when applying on or after September 1, 2026, with the intention of studying anywhere in Canada outside Quebec.
A single applicant with no dependants will require $553 more. An applicant with six additional family members will need $1,465 more.
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These increases to the cost-of-living amounts are added on top of whatever sums are required for
- the first full year of tuition; and
- travel to and from Canada
According to the immigration department’s Study permit – Proof of financial support webpage, which was updated on August 28, 2026, the new cost-of-living amounts are as follows:
| Number of family members | Amount required – September 1 onward | Change from previous requirement |
|---|---|---|
| 1 (principal applicant) | $23,448 | +$553 |
| 2 | $29,192 | +$690 |
| 3 | $35,888 | +$848 |
| 4 | $43,572 | +$1,029 |
| 5 | $49,419 | +$1,167 |
| 6 | $55,736 | +$1,316 |
| 7 | $62,054 | +$1,465 |
| Each additional family member | $6,318 | +$148 |
Applications before September 1, 2026, will be assessed based on the cost-of-living amounts that were in place at the time they were received.
In addition to meeting the financial capacity requirement, an applicant whose program extends beyond one year must explain how they plan to pay for the rest of their studies.
Calculation of financial capacity requirements
When calculating an applicant’s family size for the required cost-of-living amount, the immigration department counts the applicant themselves, as well as any family members accompanying them to Canada.
Transportation costs to and from Canada also include those for the applicant, plus costs for any accompanying family members.
For the cost of tuition, Immigration, Refugees and Citizenship Canada (IRCC) expects the applicant to show that they have sufficient financial resources to cover cost of enrollment for the first year.
The federal government updates proof-of-funds requirements annually to reflect changes in the cost of living, with the amounts set at 75% of Statistics Canada’s Low Income Cut-Off (LICO) for the applicable family size.
Acceptable resources and proof
Study permit applicants must provide documentation showing they have sufficient funds for their stay in Canada, with IRCC listing several examples of acceptable proof.
These have been broken down into three categories: already paid fees, currently available funds, and expected or promised support.
Fees already paid
- Proof of paid tuition and housing fees (e.g., a receipt from the relevant school).
- This must be accompanied by additional evidence of available funds for living and travel costs.
Funds currently available
- Proof of a student or education loan from a bank;
- Proof of a Canadian bank account in the student's name, if money has been transferred to Canada;
- A guaranteed investment certificate from a Canadian bank;
- Bank statements (Canadian or foreign) from the last six months;
- Financial documents related to a pension plan; and
- Proof of income from rental properties.
Expected or promised support
- Proof of a scholarship or participation in a Government of Canada-funded educational program;
- Pay stubs from recent employment; and
- A letter from the financial supporter or institution;
- Must confirm their relationship with the applicant, occupation or employment, number of dependants (if any), and the amount of support they intend to provide.
- Must be accompanied by supporting evidence verifying the applicant’s connection to the person or institution providing the funds, as well as a copy of the supporter’s photo identification or proof of business registration.
The examples in each above list do not constitute a complete list. Applicants may be required to provide further documentation based on their country and individual situation.
IRCC advises international students to check the relevant visa office instructions for their country or region to confirm any local requirements.
Applicants from countries that impose foreign exchange controls must provide evidence they'll be authorized to export funds to cover all applicable expenses.
Financial documentary evidence is now subject to closer scrutiny following updates to IRCC’s officer instructions in July 2026. Officers must now assess where a study permit applicant’s funds come from in all cases, not just in “high-risk” circumstances, as was the case before.
Studying in Quebec
International students wishing to study in Quebec are required to first obtain a Quebec Acceptance Certificate (QAC) prior to applying to IRCC for a study permit.
To obtain the QAC, individuals must demonstrate the ability to meet Quebec-specific study costs, which include separate living expense requirements, which are comparably higher.
Below are the proof of funds requirements for Quebec, last updated on January 1, 2026:
| Number of family members | Funds required for one year |
|---|---|
| 1 (principal applicant) | $24,617 |
| 2 | $34,814 |
| 3 | $42,638 |
| 4 | $49,234 |
| 5 | $55,045 |
| 6 | $60,299 |
| Each additional family member | $5,254 |
These figures do not include tuition fees and transportation costs. To be eligible for a study permit, applicants must demonstrate their financial capacity to cover all these expenses.
Both the provincial and federal government will assess an applicant’s proof of financial support. The same funds are assessed by both governments; applicants aren’t required to provide additional funds for IRCC assessment.
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