International students eyeing Canada as their study destination will soon face a new financial hurdle to secure a study permit.
Starting September 1, 2025, international students applying for a Canadian study permit must show they have at least CAD 22,895 set aside for living expenses — over CAD 2,000 more than before. The change will take effect for international students applying for a study permit on or after September 1, 2025..
According to Immigration, Refugees and Citizenship Canada (IRCC), the change represents a nearly 11% increase in the minimum financial support threshold, exclusive of tuition and travel costs. The new requirement is meant to help students avoid financial surprises once they arrive in Canada.
Canadian officials say the adjustment is designed to keep pace with the rising cost of living, ensuring that students can cover their basic needs without relying solely on part-time work. The goal is to set students up for success, not struggle.
Prospective students may need to delay their plans to save up the extra funds. For many, it's extra months of saving, more support from family, or even reconsidering their plans. For some, the higher requirement could mean reconsidering Canada as a study destination. It's a reminder that studying abroad requires more than ambition—it takes careful preparation and, now, a bigger financial safety net.
The required funds are adjusted each year to reflect the rising cost of living.
Applicants must provide proof of funds through one or more accepted methods, such as:
These documents help demonstrate that you have sufficient funds to support your studies and living expenses in Canada.
Effective September 1, 2025, international students are required to show they have more money set aside for living in Canada, not just for themselves, but for any family members coming along. This change means that before you can start your studies, you must prove you have enough to cover everyday costs such as rent, groceries, and transportation.
The following table will help you see exactly how much you have to show for living expenses when applying for a Canadian study permit:
| Number of People (including you) | Minimum Funds Required per Year (CAD) |
|---|---|
| 1 | 22,895 |
| 2 | 28,502 |
| 3 | 35,040 |
| 4 | 42,543 |
| 5 | 48,252 |
| 6 | 54,420 |
| 7 | 60,589 |
| Each additional person (over 7) | 6,170 |
The updated minimum funds requirement reflects the rising cost of living and ensures students are better prepared to support themselves while studying in Canada.
If you are planning to apply for a Canadian study permit, keep in mind that the new financial requirements will apply to anyone submitting their application on or after September 1, 2025. Make sure to check the updated rules so you are fully prepared for your next steps.
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