Overview

• International students must show proof of CAN$22,895 in living expenses when applying for a study permit on or after September 1, 2025.
• Required funds escalate with family size from CAN$28,502 for two people to CAN$60,589 for seven people, with an extra CAN$6,170 per additional member.
• The update applies to study permit applications across all provinces and territories outside Quebec.
• IRCC accepts a Canadian bank account, a Guaranteed Investment Certificate, education loans, recent bank statements, bank drafts, sponsor letters or Canadian-based funding as proof of funds.
• This annual adjustment supports Canada’s broader strategy to cap study permits and manage temporary resident inflows to address housing and infrastructure pressures.