Canada Raises Fund Support Criteria for Study Permit Candidates from September 2025

Nationwide Visas
[Published 17 Jul, 2025 | 05:34 AM]
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According to the recent announcement by Immigration, Refugees and Citizenship Canada (IRCC), which reflects the increased cost of living, and aims to ensure that International students are financially stable during their tenure in Canada.

The updated changes apply to applicants aiming to study in Canada as international students outside Quebec in the territories and provinces. The funds requirement is more than enough to cover not just tuition fees, but also transportation and living expenses for the candidate and any additional family members.

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Updated Financial Support Requirements Effective September 1st, 2025

According to the revised guidelines, there is an increase in the minimum fund requirement (except tuition fees). For a single candidate, the new limit is CAN$22,895, a noticeable difference from the present CAN$20,635.

For instance, if a candidate brings two additional family members, the necessary proof of funds is around CAN$35,040, expect travel and tuition costs.

Required Documents as Financial Support Proof

To be eligible for a study permit, International students are required to show that they can bear the cost of living in Canada without depending on a job while completing their studies. IRCC requires one or more of the documents given below as proof:

• Paid Housing and tuition fees for the first year at least
• Applicant’s name in the Canadian Bank Account (showing transferred funds)
• An approved Canadian financial Institution’s Guaranteed Investment Certificate (GIC)
• Student Loan or education loan proof from an authorised bank
• The previous four months’ bank statements
• A convertible bank draft
• A financial support letter from an institution or individual, along with funds for the student
• Financial support or a scholarship from a Canadian program or institution

Students from foreign exchange-controlled countries must present legitimate documentation demonstrating their ability to export the necessary funds.

Quebec Candidates Should Qualify with Separate Financial Requirements

Students who are applying for Quebec Institutions, the financial criteria differ and are set by the ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI). The candidates should prove that they are fulfilling Quebec’s specific cost-of-living thresholds, which are different from the other parts of Canada.

Significance for International Students

Annual updates to the financial requirements are in line with Canada's initiatives to:

• Safeguarding International Students from Financial Difficulty
• Make sure that newcomers can support themselves financially during their study period
• Avoid over-dependency on social support systems or employment

For various international students, particularly those from low-income countries, the increase might make it difficult to get in. However, it also guarantees that those coming to Canada are fully prepared to take care of their living expenses.

What’s Next for Applicants?

If you’re applying for a Canada Study Visa before 1st September, 2025, the present financial threshold still applies. However, applicants applying on or after that date, the revised figures will be mandatory.

It is strongly recommended to:

• Review the updated financial eligibility
• Prepare documents in advance
• To ensure that the application is accurate and comprehensive, work with knowledgeable consultants or immigration consultants.

Conclusion

As Canada welcomes International students, these updated financial thresholds are made to uphold the commitment of the immigration system while taking care of students’ well-being. If you are study in Canada as an International student, prepare early and be aware of the updated Canada immigration news, which includes all the differences.