Canada Raises Financial Proof Requirement for Study Permits from September 2025
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International students applying for study permits in Canada will soon face stricter financial requirements. Immigration, Refugees and Citizenship Canada (IRCC) has announced that from 1st September 2025, the minimum proof of funds for a single applicant will rise to CAD $22,895, an increase of CAD $2,260.
The revised threshold will apply to all new study permit applications submitted on or after the effective date. The update is intended to ensure that students and their dependents can sustain themselves financially while studying in the country.
For families, the requirement scales according to household size. A family of four must now show proof of CAD $42,543 – up by CAD $4,197 – while a family of six will need to demonstrate at least CAD $54,420. Each additional member adds CAD $6,170 to the total. A three-member household must provide CAD $35,040.
Students bound for Quebec face additional steps, as they must also meet proof of funds criteria set by Quebec’s Ministry of Immigration, Francisation and Integration (MIFI). Living expenses in Quebec currently range from CAD $7,756 for a single minor to CAD $27,499 for a family of four.
Applicants may demonstrate financial capacity in various ways, including receipts for tuition or housing, Canadian bank accounts, Guaranteed Investment Certificates (GICs), student loans, bank drafts, financial support letters, or scholarships. However, IRCC emphasised that country-specific rules, such as foreign exchange restrictions, will continue to apply.
The Canadian government maintains that the new measures reflect rising living costs and aim to protect students from financial hardship once in Canada. With the country continuing to attract thousands of international students annually, the move is seen as a step to ensure they are adequately supported throughout their academic journey.
Source: THE PIE NEWS
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