Canada hikes funds required for international student permits

Canada is raising the financial threshold for international students applying for study permits, requiring them to demonstrate more funds for living expenses starting September 1, 2026. Immigration, Refugees and Citizenship Canada announced the change, which will see a single student applying from outside Quebec needing to show C$23,448.

This amount represents an increase of C$553, or approximately 2.4 percent, from the current requirement of C$22,895. The financial proof is separate from tuition fees and transportation costs. Applicants must also provide evidence of sufficient funds for any family members accompanying them to Canada, with required amounts increasing based on family size.

For instance, a family of three will need to demonstrate C$35,888, a family of five will require C$49,419, and a family of six will need C$62,054. For each additional family member beyond seven, an extra C$6,318 in living expenses must be shown.

Immigration, Refugees and Citizenship Canada stated that these amounts are reviewed annually to align with the rising cost of living in Canada. The department aims to protect international students from financial difficulties and exploitation by ensuring they have adequate resources. The new financial requirements will be effective for all study permit applications submitted on or after September 1, 2026.