Canada Raises Fund Requirement for Student Visa Applicants

• Minimum funds for individual applicants rise to CA$22,895.
• Family of four must show CA $42,543; additional members add CA $6,170.
• Quebec students must provide separate proof of funds to MIFI and IRCC.

Beginning September 1, international students applying for Canadian study permits must demonstrate increased financial resources to be eligible.

Immigration, Refugees and Citizenship Canada (IRCC) has raised the minimum required funds by CA$2,260 for an individual applicant, making the total needed CA$22,895.

The updated regulations affect all applications received on or after September 1, 2025, and the necessary amount increases with the number of family members accompanying the student.

As per a CIC News article, a family of four must now demonstrate CA $42,543, which is an increase of CA $4,197 from earlier requirements. Every extra family member adds an additional CA $6,170.

Students intending to pursue their studies in Quebec must provide distinct proof of funds to both the province’s immigration ministry (MIFI) and the IRCC. In Quebec, living expenses vary from CA $7,756 for a single minor applicant to CA $27,499 for a family consisting of two adults and two children.

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IRCC recognizes various types of proof of funds, such as receipts for tuition and housing payments, Canadian bank accounts, Guaranteed Investment Certificates (GICs), student loans, bank statements, bank drafts, financial support letters, or scholarships.

Applicants are required to adhere to any regulations specific to their country, including foreign exchange controls. The new requirements are implemented to guarantee that international students can sustain themselves and their families financially while studying.