Canada Hikes Funds Required for International Student Permits

Canada has increased the amount of money international students must demonstrate they have available when applying for study permits.

The new financial requirements, announced by Immigration, Refugees and Citizenship Canada, will apply to study permit applications submitted from September 1, 2026.

Under the updated rules, applicants must demonstrate that they have sufficient funds to cover their living expenses while in Canada, in addition to tuition fees and transportation costs. Students travelling with family members must also show additional funds based on the number of accompanying relatives.

For applicants travelling with three family members, the required amount will rise to C$35,888, while those travelling with five family members will need to demonstrate C$49,419 in available living expenses.

Students travelling with six family members will be required to show C$62,054. For each additional family member beyond seven, applicants will need to demonstrate an extra C$6,318 in living expenses.

The financial requirement is separate from tuition fees and transportation costs. Applicants must therefore demonstrate that they can afford their education, accommodation and other living expenses, as well as the cost of travelling to and from Canada.

For students enrolling in programmes lasting more than one year, Canadian authorities also require applicants to explain how they intend to finance their studies for the entire duration of their programme.

Immigration, Refugees and Citizenship Canada said the financial thresholds are reviewed annually to ensure that they reflect changes in the cost of living across the country.

The department explained that the requirement is intended to ensure international students have adequate financial resources and are protected from financial hardship and potential exploitation while studying in Canada.

The increase comes as Canada continues to review its international student programme and measures aimed at ensuring prospective students have sufficient resources before arriving in the country.

Applicants are expected to provide acceptable evidence showing that the required funds are genuinely available to them. Meeting the financial requirement, however, does not by itself guarantee approval of a study permit, as applicants must still satisfy other eligibility and admission-related requirements.

The revised thresholds mean prospective international students and their accompanying families will need to plan for higher upfront financial requirements when preparing applications.

Students intending to submit applications from September should therefore review the new amounts carefully and ensure their proof of funds covers the applicable requirement, alongside tuition and travel expenses.