Dear future neighbour,
Starting September 1, 2025, international students applying for study permits in Canada (outside Quebec) must show they have at least CAD 22,895 to cover living expenses—not including tuition and travel. This is an increase from the previous requirement of CAD 20,635.
This new rule applies only to applications submitted on or after September 1, 2025. Applications filed before that date can still follow the old requirement.
Why the Increase?
The financial requirement is based on Canada’s Low-Income Cut-Off (LICO), which is updated annually to reflect the rising cost of living. The goal is to make sure students can support themselves without financial hardship.
New financial benchmarks (excluding Quebec):
| Family Size | New Requirement (per year, excluding tuition & travel) |
|---|---|
| 1 | CAD 22,895 |
| 2 | CAD 28,502 |
| 3 | CAD 35,040 |
| (Amounts increase by approx. CAD 6,170 per additional family member) |
What counts as proof of funds?
Students can provide:
-
Bank statements (Canada or home country)
-
GIC (Guaranteed Investment Certificate)
-
Education loans
-
Scholarship letters
-
Receipts for paid tuition or housing
-
Letter of financial support (e.g., from a parent or sponsor)
Why it Matters
This change is part of a wider effort by Canada to:
-
Protect international students from financial struggles
-
Ease pressure on housing and student services
-
Reduce the number of low-quality education providers
-
Control the overall number of incoming students
For example, during the first quarter of 2025, study permit approvals for Indian students dropped by 31% (from 44,295 to 30,650), illustrating how heightened requirements are impacting applicant numbers.
What Should You Do?
-
Apply before August 31, 2025 if possible, to meet the lower financial threshold.
-
Prepare documents early especially if you’re applying after the new rules take effect.
-
Budget carefully- include tuition, living costs, and travel.
-
Plan for family- each additional person significantly increases the required funds.
Canada remains a top study destination, but it’s becoming more selective. If you’re planning to study there, be financially prepared and stay informed about the latest immigration policies.
Need help with your Canadian admission process?
If you need help selecting the right school in Canada, preparing your application documents, or simply feel overwhelmed by the admission process, we’re here to guide you every step of the way. Schedule a consultation or contact us at: info@eseumohimmigration.com