Canada: Canada has increased the amount of funds international students must show for living expenses while applying for a study permit. The new requirement will apply to students submitting applications from September 1, 2026.
According to the Immigration, Refugees and Citizenship Canada (IRCC), the updated financial requirement has been introduced in view of the rising cost of living in the country. Students who applied by August 31, 2026 will not be affected by the new requirement.
Single Student Must Show CAD 23,448
Under the updated rules, a single student applying to study anywhere in Canada, except Quebec, must show CAD 23,448 as funds for living expenses. This is approximately ₹17 lakh, depending on the exchange rate.
The required amount is separate from the student’s tuition fees and travel expenses. Applicants will therefore need to demonstrate sufficient funds for their first-year tuition, living expenses and transportation costs.
Higher Funds Required for Families
The financial requirement increases when a student is accompanied by family members. According to the IRCC’s updated figures, the required living-expense funds are:
- 1 person: CAD 23,448 — around ₹17 lakh
- 2 people: CAD 29,185 — around ₹20.10 lakh
- 3 people: CAD 35,880 — around ₹24.74 lakh
- 4 people: CAD 43,562 — around ₹30.04 lakh
- Each additional person: CAD 6,315 — around ₹4.35 lakh extra
These requirements apply across Canada except Quebec, which has separate financial requirements for international students.
Why Has Canada Increased the Requirement?
The IRCC has linked the change to the rising cost of living in Canada. Expenses such as rent, groceries and basic utilities have increased in recent years, making the earlier financial requirement less reflective of students’ actual living costs.
From September 1, new applicants will need to provide proof of funds covering their first-year tuition fees, the required living expenses and travel costs from India to Canada.
Students planning to apply for a Canadian study permit should check the latest requirements on the official IRCC website and ensure that their financial documents meet the applicable threshold.