Canada Study Permit: New Financial Requirements for 2025
New Financial Requirements for International Students in Canada Starting September 1, 2025
If you’re planning to study in Canada as an international student, there’s an important update you should know about. Starting September 1, 2025, the financial requirement to apply for a Canadian study permit is going up. This change affects all new applicants and aims to ensure students have enough funds to support themselves during their studies.
Let’s walk through the updated proof of funds requirements, how this impacts students applying to schools in Quebec, and what acceptable documents you’ll need to provide as part of your application. We’ve got it all broken down for you in this post, so grab a coffee and let’s get into the details!
Key Highlights
- New minimum proof of funds: $22,895 CAD for a single applicant, an increase of $2,260 starting September 1, 2025.
- Family members coming along? You’ll need to show even more, based on how many dependents are joining you.
- Students heading to Quebec must meet both federal and provincial financial requirements.
- Proof of funds is separate from tuition and travel costs—you must show how you’ll pay those too.
- Acceptable documents include bank statements, GICs, proof of scholarships, and more.
- Plan ahead: Your study permit won’t be approved without clear, up-to-date financial documentation.
What’s Changing in 2025?
As of September 1, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has increased the proof of funds requirement for international students applying for a study permit. For a single applicant, the new amount is $22,895 CAD, which is $2,260 more than the previous threshold.
This requirement goes up if you have family members coming with you. Here’s a quick look at the new figures compared to the previous ones:
| Number of Family Members | Funds Required (from Sept 1, 2025) | Increase from Previous |
|---|---|---|
| 1 (Principal Applicant) | $22,895 | +$2,260 |
| 2 | $28,502 | +$2,812 |
| 3 | $35,040 | +$3,457 |
| 4 | $42,543 | +$4,197 |
| 5 | $48,252 | +$4,760 |
| 6 | $54,420 | +$5,369 |
| 7 | $60,589 | +$5,978 |
| Each additional member | $6,170 | +$611 |
It’s important to note that this amount only covers living expenses. You’ll still need to prove you can afford your tuition and transportation costs on top of this.
What If You’re Studying in Quebec?
If your study destination is Quebec, your financial prep will be a bit more layered. Quebec has its own immigration process, and students must first obtain a Quebec Acceptance Certificate (CAQ) before applying for a federal study permit from IRCC.
What does that mean for your wallet? You’ll need to show proof of funds to both the Quebec immigration ministry (MIFI) and to IRCC. The good news? You can use the same funds to meet both requirements.
What You’ll Need to Show:
- Tuition fees set by your school
- Transportation costs (to and from Canada)
- Living expenses for one year
- Settlement funds (currently $500 CAD)
- Health insurance coverage (or proof of exemption)
Here’s what Quebec’s living expense requirements look like for 2025:
| Family Composition | Funds Required (CAD) |
|---|---|
| One person under 18 | $7,756 |
| One person 18 and over | $15,508 |
| Two adults | $22,745 |
| Two adults + one child | $25,479 |
| Two adults + two children | $27,499 |
How Can You Show Proof of Funds?
When you submit your study permit application, IRCC expects you to include documents that clearly back up your financial claims. Being thorough here can make or break your application.
Accepted Types of Proof
- Receipts for tuition and accommodation – Especially helpful if you’ve already paid some of these costs.
- Canadian bank account statement – Funds transferred to a Canadian financial institution in your name.
- Guaranteed Investment Certificate (GIC) – A common and trusted way to show sufficient funds.
- Student or education loan – Must be from a recognized bank or financial lender.
- Bank statements – Provide at least four months of transaction history.
- Bank draft – Should be in CAD or easily convertible to CAD.
- Letter of financial support – If someone is helping fund your studies, this letter must be backed by matching financial documents.
- Scholarship confirmation – Include official documentation if you’ve been awarded a scholarship or are part of a Canadian-funded program.
Keep in mind that IRCC may request additional documents depending on your country of residence or specific circumstances. It’s a good idea to check with your local visa office to see if there are any extra requirements you need to meet.
Final Thoughts
Canada remains a top destination for international students, and for good reason. But with the updated financial requirements taking effect on September 1, 2025, it’s more important than ever to start planning early. Whether you’re applying solo or bringing your family along, make sure your finances align with these new standards.
And if Quebec is on your radar, remember that you’ll need to satisfy both provincial and federal financial requirements. It might feel like a lot—but with the right preparation, you’ll be well on your way to studying in one of the most welcoming countries in the world.
Looking for more help with your Canadian study plans? You can also explore options through programs like the Manitoba PNP, which offers pathways to permanent residency for international graduates.
Still have questions about how to meet Canada’s proof of funds requirements? Contact us today or browse our other resources for international students!
