Canada tightens financial requirements for international students, changes take effect from September 2025, here's what you need to know
In a significant move to ensure international students are financially secure during their time in the country, the Canadian government has announced stricter financial requirements for study permit applicants.
The new guidelines will come into effect from September 1, 2025.
The revised policy mandates that prospective international students, including those from India, must demonstrate sufficient financial capacity not only to cover tuition fees but also higher living expenses and transportation costs—without relying on employment in Canada. The changes apply to all provinces and territories, with specific provisions for Québec.
Higher cost-of-living thresholds for applicants
Under the updated guidelines, the cost-of-living requirement for a single applicant (excluding tuition fees) will increase to CAN$22,895 per year. This marks a rise from the previous threshold of CAN$20,635. The required funds scale upwards depending on the number of accompanying family members. For instance, an applicant with two dependents must now show CAN$35,040 in available funds annually.
Below is a comparison of the financial requirements before and after the changes for applicants outside Québec:
Family size
Funds before Sept 1, 2025 (CAD)
Funds from Sept 1, 2025 (CAD)
Approx. funds from Sept 1, 2025 (INR)
1
20,635
22,895
13,96,595
2
25,690
28,502
17,38,622
3
31,583
35,040
21,37,440
4
38,346
42,543
25,95,123
5
43,492
48,252
29,43,372
6
49,051
54,420
33,19,620
7
54,611
60,589
36,95,929
Each additional
5,559
6,170
3,76,370
As an example, if a student and two family members plan to stay in a Canadian province (excluding Québec) for one year, they will now need to show CAN$31,583 in available funds for living expenses alone, up from CAN$25,690.
Acceptable forms of financial proof
To meet the new requirements, applicants must provide valid financial documentation. The accepted forms of proof include:
• Receipts showing payment of tuition and accommodation fees
• A Guaranteed Investment Certificate (GIC) from a recognised Canadian financial institution
• Bank statements for the past four months
• Proof of an education or student loan
• A Canadian bank account in the student's name
• Letters confirming financial support or scholarship details
• Proof that funds can be legally transferred to Canada (for applicants from countries with foreign exchange controls)
Students enrolled in multi-year programmes must provide evidence of payment for the first year's tuition.
Special provisions for Québec-bound students
Applicants intending to study in Québec must meet separate financial requirements set by the ministère de l'Immigration, de la Francisation et de l'Intégration. In addition to tuition, they must show funds to cover transportation, living expenses, settlement fees, and health insurance.
Below are the Québec-specific financial thresholds for 2025:
• One person under 18: CAN$7,756
• One person 18 or over: CAN$15,508
• Two persons 18 or over: CAN$22,745
• Two persons 18 or over and one person under 18: CAN$25,479
• Two persons 18 or over and two persons under 18: CAN$27,499
• Settlement fees (first year only): CAN$500
• Proof of health and hospital insurance for the full duration of stay is also mandatory unless exempt under Québec's insurance agreements
Applications assessed based on submission date
Applicants who submit their study permit applications before September 1, 2025, will be assessed using the current financial thresholds.
Those applying on or after this date must comply with the revised figures.
The Canadian government adjusts the financial requirements annually in accordance with the low-income cut-off (LICO) to reflect inflation and rising living costs.
Additional supporting documents and requirements
Depending on individual circumstances, applicants may also need to submit:
• A letter of explanation detailing their study plans and understanding of student responsibilities
• Medical examination results, if applicable
• A notarised Custodianship Declaration (IMM 5646) for minor children
• Proof of immigration status in the country from which they are applying, if not applying from their country of citizenship
• A re-entry permit, if required by the government that issued their passport
Prospective students are advised to consult local visa office instructions for region-specific requirements.
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