New Financial Rules for International Students in Canada (Effective September 1, 2025)

Starting September 1, 2025, international students applying for a Canadian study permit must show a higher proof of funds requirement. Immigration, Refugees and Citizenship Canada (IRCC) has increased the minimum living expense threshold by $2,260 CAD, bringing the total to $22,895 CAD for a single applicant.

This change reflects rising living costs in Canada and ensures that international students are financially prepared for their stay. The increase applies in addition to tuition fees and travel costs, meaning students must demonstrate sufficient funds to cover all expenses.

Key Highlights of the New Requirement

• Effective Date: September 1, 2025.
• Single Applicant: Now required to show $22,895 CAD (+$2,260 from previous requirement).
• Family Members: Fund requirements increase with each additional dependent. For example:
  • 2 people: $28,502 CAD
  • 3 people: $35,040 CAD
  • 4 people: $42,543 CAD
  • Each additional member: $6,170 CAD
• Independent of Tuition: Students must also show how they will pay tuition fees at their Designated Learning Institution (DLI).
• Quebec Students: Must show proof of funds twice – once for Quebec’s CAQ (Certificate of Acceptance of Quebec) and once for IRCC. Quebec requirements also cover living expenses, tuition, settlement funds, and healthcare coverage.

Acceptable Proof of Funds Documents

Students can demonstrate financial capacity through:

• Tuition and housing receipts (at least for the first year).
• Canadian bank account evidence in the student’s name.
• Guaranteed Investment Certificate (GIC).
• Approved student or education loan from a recognized bank.
• Bank statements for the last four months.
• Bank drafts in Canadian dollars.
• Letters of financial support from sponsors (with supporting evidence).
• Proof of scholarship or Canadian-funded support programs.

Why the Change?

• The adjustment aims to ensure students are financially secure during their studies.
• Helps prevent cases where students face financial hardship after arrival.
• Reflects updated cost of living standards in Canada.

For a consultation about Immigration options, reach out to the CAD IMMIGRATION today!