International students submitting a Canadian study permit application on or after September 1, 2026 must meet revised financial requirements for living expenses. For a single applicant planning to study in a Canadian province or territory outside Quebec, Immigration, Refugees and Citizenship Canada (IRCC) now requires proof of at least CAD 23,448 to cover first-year living expenses.
This financial requirement is in addition to tuition fees and transportation costs, meaning students need to demonstrate sufficient funds beyond the CAD 23,448 living-expense amount.
The required living-expense amount depends on the number of family members accompanying the applicant to Canada.
| Family Members, Including Applicant | Required Annual Living Funds |
|---|---|
| 1 | CAD 23,448 |
| 2 | CAD 29,192 |
| 3 | CAD 35,888 |
| 4 | CAD 43,572 |
| 5 | CAD 49,419 |
| 6 | CAD 55,736 |
| 7 | CAD 62,054 |
| Each Additional Family Member | CAD 6,318 |
These financial requirements apply to students studying in Canadian provinces and territories outside Quebec.
Quebec follows a separate financial-capacity system as part of the Quebec Acceptance Certificate (CAQ) process, so applicants planning to study in Quebec should check the applicable provincial requirements.
For comparison, the minimum living-expense requirement for a single applicant was CAD 22,895 for study permit applications submitted between January 1, 2025 and August 31, 2026.
The amount applicants need to demonstrate is determined by the date their study permit application is submitted.
Students should understand that the required proof of funds extends beyond the minimum living-expense amount.
Applicants must demonstrate that they have sufficient financial resources to cover:
Therefore, simply showing CAD 23,448 in available funds may not be sufficient if tuition fees, travel expenses and other required costs have not been accounted for separately.
IRCC accepts different types of financial documents to demonstrate that students have sufficient and accessible funds for their studies in Canada.
Common supporting documents may include:
Current guidance also refers to providing bank statements covering the previous six months, including the month of application or the month immediately before submission.
Applicants should also provide documents that clearly explain the source of the funds shown in their account.
Students whose education is being funded by their parents, relatives or another sponsor should provide supporting evidence explaining the financial arrangement.
This may include:
Financial documentation should clearly demonstrate that the money is genuine and readily available for the student's education.
Large or sudden deposits without a reasonable explanation may make the financial history less clear, even when the final account balance appears sufficient.
Indian students planning to study in Canada should prepare a detailed financial plan rather than focusing only on the minimum proof-of-funds requirement.
Your first-year financial plan should include:
This provides a more realistic estimate of the total amount required to begin studying and living in Canada.
Because students in India usually arrange their finances in Indian rupees, exchange-rate fluctuations can affect the final amount available in Canadian dollars.
It is advisable to maintain a reasonable financial buffer instead of arranging exactly the minimum required amount.
This can help protect the application from short-term currency fluctuations before tuition payments, fund transfers or visa assessment.
Students should ensure that all financial documents support the information provided in their study permit application.
Important documents may include:
The financial information should also remain consistent with the student's chosen programme, institution and overall study plan.
Students should carefully review their documents before submitting a Canadian study permit application.
A complete application should clearly demonstrate:
Applicants should also review any local visa-office instructions that may require additional financial or supporting documents.
IRCC may consider not only the total amount of funds available but also whether those funds appear genuine, accessible and sufficient to support the student throughout the programme.
No. The CAD 23,448 requirement represents first-year living expenses for one applicant studying outside Quebec. Tuition fees and transportation expenses must be demonstrated separately.
No. The updated amount applies to study permit applications submitted on or after September 1, 2026.
Applications submitted up to August 31, 2026 are assessed using the earlier applicable financial requirement.
Yes. IRCC lists proof of a student or education loan from a bank as one of the documents that may be used to demonstrate financial support.
Applicants generally need to demonstrate the required funds for their first year. However, if the programme lasts longer than one year, students should also show a credible plan explaining how they intend to finance the remaining period of study.
No. Quebec has its own financial-capacity requirements linked to the Quebec Acceptance Certificate (CAQ) process. Students planning to study in Quebec should check the latest provincial requirements separately.
Immigration, Refugees and Citizenship Canada (IRCC):
https://www.canada.ca/en/immigration-refugees-citizenship/services/study-canada/study-permit/get-documents/financial-support.html