Increased Fund Requirements for Canadian Study Permits Now in Effect

As of September 1, 2025, international students applying for a Canadian study permit must now showcase an increased amount of financial support, with a new minimum proof of funds requirement of CAD 22,895 for a single applicant. This is an increase of CAD 2,260 and affects all new study permit applications submitted on or after this date.

Updated Fund Requirements for Canada Study Permit

The new requirements are decided according to the number of family members living with the applicant. For each additional family member, the required funds increase, with detailed amounts as follows:

Also Read: Nova Scotia PNP Plans to Invite 1,312 More PR Candidates Amid High Demand

Requirement for Quebec’s Proof of Funds for International Students

Students who want to study in Quebec might face extra steps because of the provincial regulations.

• They must obtain a Quebec Acceptance Certificate (CAQ) and show funds to both Quebec’s ministry and the federal immigration office (IRCC).
• The financial evidence must cover tuition, enrollment costs, travel, living expenses, settlement funds for the year (set at 500 CAD for 2025), and health insurance.

The living expenses that must be showcased for Quebec are:

Also Read: IRCC Revises Processing Times for the Third Time in August 2025

Acceptable Documentation for Proof of Funds for Canadian Study Permit

Applicants can provide evidence of financial capacity using several document types:

• Receipts for tuition and accommodation payments
• Proof of funds in a Canadian bank account in the student’s name
• Guaranteed Investment Certificate (GIC)
• Approved student or educational loans
• Four months of recent bank statements (Canadian or foreign accounts)
• Bank drafts in Canadian dollars (or easily converted)
• Financial support letters with supporting documents
• Official scholarship or sponsorship letters

Other documentation or additional requirements are also necessary based on the student’s country or personal circumstances. Applicants from countries with currency exchange restrictions must show the authority to transfer funds to Canada.

All in all, international students need to meet top benchmarks for proof of funds from September 2025 onward, with extra requirements if their destination is Quebec.

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