Study Permit Required Funds to Increase from September 1, 2025

From September 1, 2025, the funds required to meet the proof of financial support eligibility will increase, and here is what you need to know. 

Key Takeaways 

• Single applicants will need to show $2,260 CAD additional funds to meet the funds requirement for a Canadian study permit submitted on or after September 1.  

• Applicants who are bringing family members will need to show even more funds per year, ranging from an additional $2,812 for 2 applicants to an additional $5,978 for a family of 7.  

New Funds Requirement for Study Permits in Canada From September 1, 2025 

If you are planning to apply for a study permit on or after September 1, 2025, you must meet the new financial support thresholds listed below for each year of your study program. Keep in mind that these amounts are in addition to your tuition. 

So, if you’re single and planning to pursue a two-year program in Canada, you’ll need to demonstrate at least $45,790 CAD in available funds, plus the full cost of tuition,  as part of your study permit application.

Why Has the Funds Requirement Increased?  

This review is part of IRCC’s broader effort to protect international students from financial hardship and reduce the risk of exploitation. The shift began in December 2023, when IRCC doubled the previous funds requirement, which had remained unchanged for over a decade, and introduced annual updates to the fund requirements, tied to Statistics Canada’s Low-Income Cut-Off (LICO).  

Moving forward, we expect the financial support thresholds for study permit applications to be reviewed annually to reflect real-world living costs in Canada.  

What If You Don’t Meet the New Financial Requirement? 

If you do not meet the financial requirements or your documentation isn’t strong enough, you are not ready to apply for your study permit. In this case, you should consider deferring your intake, securing a scholarship, or working with your institution’s financial aid team to explore other options before submitting your study permit application. 

What Counts As Proof of Meeting the Funds Requirement? 

If you are applying for a study permit, to meet the proof of financial support requirement listed above, you’ll need to show documented evidence of available funds. Acceptable documents include: 

• A Canadian bank account in your name, if money has been transferred to Canada 

• A Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution 

• Proof of a student or education loan from a bank 

• Bank statements from the past four months 

• A bank draft that can be converted to Canadian dollars 

• Receipts showing you’ve paid tuition and housing fees 

• A letter from the person or school providing you with money 
• Proof of funding from within Canada (e.g. a scholarship or Canadian-funded education program).  

Tips for Strengthening Your Proof of Funds Documentation 

When preparing your study permit application, make sure the documents you submit demonstrating your proof of funds are clear, well-documented, and easy for IRCC officers to verify. While all accepted proof of funds documentation listed above are equally valid in the eyes of IRCC, some options may result in a smoother review process. You can learn more about how a GIC can help your study permit application here.  

As requirements for study permits continue to evolve, it’s more important than ever for prospective students to plan ahead. From eligibility criteria to documentation and timelines, every detail matters when preparing to study in Canada.

Staying informed and organized can help you avoid common pitfalls like refusals due to insufficient funds or documentation, and put you on the path to a successful study experience in Canada.