International Students Must Now Show More Money to Study in Canada

International students applying for a Canadian study permit must now show more money for living expenses, with the new requirement taking effect on 1 September 2026.

A single applicant must demonstrate access to CAN$23,448 for living expenses during the first year of study, up from CAN$22,895. The amount does not include tuition fees or travel costs, which means applicants must have additional funds to cover those expenses.

The requirement increases according to the number of family members accompanying the applicant. Two people must show CAN$29,192, while three people must demonstrate CAN$35,888. Families of seven or more must show more than CAN$62,054, with an additional CAN$6,318 required for each extra person.

The study permit allows foreign nationals to study at designated learning institutions in Canada. Under the revised requirements, applicants must demonstrate that they can cover their tuition, living expenses and transportation costs without depending on employment in Canada.

Students enrolling in programmes lasting more than one year are also expected to provide evidence that they can continue funding their studies. This may include proof of scholarships, parental support or other sources of financial assistance.

Applicants can use several types of documents to prove their financial capacity. These include tuition and accommodation receipts, bank statements, Guaranteed Investment Certificates (GICs), scholarship letters and pay slips.

Where another person is funding the student's education, the sponsor must provide a detailed letter explaining their occupation, relationship with the applicant, number of dependants and the amount of financial support they will provide. The increase is part of Canada's requirements for international students to demonstrate sufficient financial resources before receiving a study permit. 

For applicants from countries with weaker currencies against the Canadian dollar, the higher threshold may increase the overall cost of preparing for study in Canada.

The revised financial requirements apply from 1 September 2026.