Canada Raises Financial Requirements for Study Permit Applicants Starting September 2025

Ottawa, July 2025 International students planning to study in Canada will soon face higher financial thresholds for proving their ability to support themselves during their stay. Starting September 1, 2025, the Government of Canada will implement a significant increase in the minimum cost-of-living requirement for study permit applicants.

According to the latest announcement from Immigration, Refugees and Citizenship Canada (IRCC), the new cost-of-living threshold for a single applicant will be raised to CAD 22,895, up from the previous requirement of CAD 20,635. This marks an increase of over CAD 2,000, or approximately 11%.

“The revised amount reflects updated living costs across Canada and aims to ensure students are financially secure during their studies,” IRCC stated in a release.

Applies Nationwide — Except Quebec

This new requirement will apply to all provinces and territories except Quebec, which has its own financial criteria for international students. Importantly, the cost-of-living amount is in addition to other financial requirements such as:

• ✅ First year’s tuition fees
• ✅ Travel expenses to and from Canada
• ✅ Support for accompanying family members, if applicable

Breakdown of Updated Living Expense Requirements

Here’s the full breakdown of required funds based on family size (excluding tuition and travel):

Acceptable Proof of Funds

Applicants can demonstrate their financial readiness using any of the following:

• Bank statements (last 4 months)
• Canadian bank account in the applicant’s name
• Guaranteed Investment Certificate (GIC)
• Proof of a student loan or education loan
• Documents proving scholarships or Canadian program funding
• Letter from a sponsor, if applicable

Applications Before September 1

Students submitting their study permit applications before September 1, 2025, will continue to be assessed based on the existing financial threshold of CAD 20,635.

Policy Rationale

The IRCC stated that aligning the cost-of-living requirement with Canada’s Low-Income Cut-Off (LICO) is part of broader efforts to ensure student well-being, reduce financial stress, and prevent exploitation by ensuring students have adequate resources from the outset.

Study permit: Get the right documents – Proof of financial support – Canada.ca