Starting September 1, 2025, international students, including those from India, will need to show more money as proof of living expenses to study in Canada.
What’s Changing?
Canada’s immigration department, Immigration, Refugees and Citizenship Canada (IRCC), has increased the amount of money students need to show by CAN $2,260.
- New Requirement: CAN $22,895 (approx. ₹14 lakh)
- Old Requirement: CAN $20,635
This applies to all provinces and territories in Canada, except Quebec.
Who Needs to Show This Money?
All students applying for a study permit on or after September 1, 2025 must show they have enough funds to support themselves and any family members going with them.
Required Funds Based on Family Size:
- 1 person: CAN $22,895
- 2 people: CAN $28,502
- 3 people: CAN $35,040
- 4 people: CAN $42,543
- 5 people: CAN $48,252
- 6 people: CAN $54,420
- 7 people: CAN $60,589
- Each additional member: CAN $6,170
Note: If you apply before September 1, 2025, you only need to show CAN $20,635 for one person.
What Can Be Used as Proof of Funds?
You can use any of the following to prove you have enough money:
- A Canadian bank account in your name (with money already transferred)
- A Guaranteed Investment Certificate (GIC) from a Canadian financial institution
- A student/education loan from a bank
- Bank statements for the past 4 months
- A bank draft that can be converted to Canadian dollars
- A letter from a person or school giving you money
- Proof of funding from a Canadian source (like a scholarship or Canadian-funded program)
This change is part of Canada’s effort to ensure that international students have enough financial support while living and studying in the country.
