Canada Increases Proof of Funds for International Students Starting September 2025
Getting ready to study in Canada? Important changes are coming for international students applying for study permits. Starting September 1, 2025, you’ll need to demonstrate greater financial capacity to cover your living expenses, transportation, and tuition fees. This means you’ll need more savings upfront and won’t be able to rely on projected income from part-time jobs in Canada to meet the requirements.
How Much Money Will I Need?
The minimum proof of funds for a single student applicant has increased to CAN$22,895 per year. However, this amount is a baseline. The required amount will vary based on factors like:
Factors Influencing Required Funds:
- Family Size: If you’re bringing family members with you, you’ll need to show significantly more funds to cover their expenses too.
- Study Location: The cost of living differs across Canada. Expect higher requirements for more expensive cities.
- Québec Applicants: Québec has separate requirements, so check those specifically if you plan to study there.
Along with the increased financial thresholds, updates have also been made to the acceptable types of financial proof and documentation. Make sure to check the official government resources for a complete list of acceptable documents and the most up-to-date information.
