Canada Increases Financial Requirements for International Students: Proof of CAD 22,895 Now Needed from September 2025
If you’re planning to study in Canada, here’s a major update you can’t afford to miss.
Starting September 1, 2025, international students applying for a Canadian study permit will now be required to show proof of CAD 22,895 for living expenses—up from the previous requirement of CAD 20,635. This move comes as part of the Canadian government’s effort to ensure international students are financially secure without having to rely on part-time work to survive.
What’s Changing?
The Immigration, Refugees and Citizenship Canada (IRCC) has announced new financial benchmarks that align with Canada’s updated low-income cut-off (LICO), reflecting the true cost of living for students. These changes apply to all study permit applications submitted on or after September 1, 2025, outside of Quebec.
New Minimum Proof of Funds
| Family Size | Required Funds (CAD) |
|---|---|
| Single Student | 22,895 |
| Two People | 28,502 |
| Three People | 35,040 |
| Four People | 42,543 |
| Five People | 48,252 |
| Six People | 54,420 |
| Seven People | 60,589 |
| Additional Family Member | +6,170 each |
These requirements exclude tuition fees and apply strictly to living expenses.
✅ Why the Change?
The Canadian government stated that the goal is to:
Ensure students have adequate financial support throughout their studies.
Reduce the number of international students falling into financial hardship.
Avoid over-reliance on off-campus jobs, which typically cannot cover full living costs.
This move follows broader efforts to regulate and improve the international student experience in Canada.
What Can Be Used as Proof of Funds?
To meet the new financial requirement, applicants can provide:
Bank statements (minimum of 4 months)
GIC (Guaranteed Investment Certificate)
Scholarship or grant letters
Student loan documents
Sponsor letters
Official admission and tuition fee receipts
Proof of accommodation or travel allowances
Ensure all documentation is official, valid, and clearly shows your ability to meet the new financial threshold.
Who’s Affected?
All international students applying for a study permit on or after September 1, 2025
Students outside Quebec (Quebec uses a separate requirement system)
Those planning to study full-time in Canadian Designated Learning Institutions (DLIs)
Key Takeaways
Plan early: Don’t wait until the last minute to prepare your financial documents.
Be realistic about the cost of living in Canada—this change reflects the actual expense of surviving in the country.
Ensure complete and honest documentation—false claims can lead to visa denial.
Final Word
This update from Canada is a reminder that while the country remains one of the most welcoming destinations for international students, it is also serious about making sure you can thrive—not just survive—while studying.
If you’re applying for the 2025/2026 academic session, take this requirement into account immediately.
For more scholarship opportunities and application tips for studying in Canada, stay connected with our platform!
